A venture capital trust (VCT) is a listed company that has been approved by HMRC to invest in – or lend money to – unlisted companies. It’s one of four government schemes designed to encourage individual investors to put money into high-growth businesses. See also Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS) and Social Investment Tax Relief (SITR). A Venture Capital Trust (VCT) is a listed company (i.e. a company whose shares are traded on the London stock market), which aims to make money by investing in smaller unlisted businesses.A VCT is run by a fund manager who provides private investors with a tax-efficient means of investing in high-growth companies, under Enterprise Investment Scheme (EIS) rules. Investors buy shares in a VCT and thereby get access to a basket of small businesses. They can invest by subscribing to new shares when a trust is launched or by buying shares from other investors after the trust has been established.Your business might be eligible for VCT investment (along with advice and support) if: you have no more than £15m in gross assets you have no more than 250 employees it’s been less than seven years since your first commercial sale