**A new (2022) interview is available here: [Interview with Karen McCormick on ProVen VCTs](https://www.youtube.com/watch?v=djP0aOtZVhY)**
In this interview, Alex Davies, founder and CEO of Wealth Club, speaks with Karen McCormick, chief investment officer of Beringea and manager of the ProVen VCTs. They discuss the investment strategies of ProVen VCTs, recent investments, and the potential opportunities for UK tax-efficient investors.
Beringea, with over 35 years of history as a corporation, manages more than $700 million across offices in the US and the UK. The ProVen VCTs, which make up over £200 million of their assets, have a track record of generating positive returns and funding special dividends for investors through successful exits like Watchfinder and Chargemaster in 2018.
Karen shares that they are currently raising £60 million across the two VCTs, with a £20 million over allotment. The primary reason for the raise is the belief in generating great returns due to the strong deal flow and a proven track record over 20 years. Additionally, with the anticipation of a potential market correction or softening, they see it as a good time to invest.
What sets ProVen VCTs apart is their consistent track record and investment strategy as early stage growth capital investors. They look for businesses with an established commercial history and track record, generally with at least £1 million in revenue at the time of investment. Their focus areas include business software and services, consumer products and technologies, and digital media.
Karen highlights a few companies in the ProVen VCTs’ portfolio, such as Chess Dynamics, which specializes in defence and security electro-optical systems, and My 1st Years, a personalized baby gifting company favored by the Royal Family. Other notable investments include Poq, an app commerce business, Blis Media, a marketing services company, and Monica Vinader, a successful jewelry company.
Recent investments made by ProVen VCTs include Smart Assistant, an Austrian-based digital shopping assistant used by companies like Canon and Sonos to guide consumers in purchase decisions.
For more information on ProVen VCTs and how to invest, visit [Wealth Club](https://www.wealthclub.co.uk/y/proven-vcts/).
IMPORTANT: The opinions expressed in this video are the interviewee’s own and do not necessarily reflect the view of Wealth Club Limited. VCTs are higher risk and less liquid than mainstream investments. Tax rules can change, and tax benefits depend on individual circumstances. Seek professional advice if unsure.
**Keywords/Tags**: Beringea, ProVen VCTs, venture capital, tax-efficient investments, VCTs, alternative investments, venture capital trusts, Watchfinder, venture capital investments, Chargemaster
** A new (2022) interview is available here:
Karen McCormick’s team at Beringea manages ProVen VCT and ProVen Growth & Income VCT, the alternative investments behind companies like Watchfinder and Chargemaster – both of which exited in 2018, generating positive returns and funding special dividends for investors. So what’s next for these popular venture capital trusts – where have they been investing lately? Who are the rising stars of the current portfolio? Has Karen’s team changed its approach following the VCT rule changes? Ultimately, why should UK tax-efficient investors consider the ProVen VCTs? Alex Davies, founder and CEO of Wealth Club, interviews Karen to find out.
For more details on ProVen VCTs, including offer documents and how to invest, see:
The opinions expressed in this video are the interviewee’s own and do not necessarily reflect the view of Wealth Club Limited. This interview, like our service, is not advice and the products featured are not suitable for everyone. VCTs are higher risk and far less liquid than mainstream investments. You could get back less than you invest. Tax rules can change and tax benefits depend on your circumstances. If you’re unsure an investment is right for you, please seek professional advice.