what is a venture capital trust vct 
the term venture capital trust vct refers to an investment vehicle that operates in the united kingdom the vct is a closed end fund that was created by the u k government in the 1990s to help direct investment into local private businesses these funds are tax efficient and allow individual investors to access venture capital investments via capital markets vcts seek out potential venture capital investments in small unlisted firms that are in their early stages to generate higher than average risk adjusted returns vcts are commonly listed on the london stock exchange lse 