Northern VCTs report June NAV
Analysis based on 8 articles · First reported Jul 31, 2026 · Last updated Jul 31, 2026
The NAV increases across the three VCTs reflect positive portfolio performance and successful realisations, which may support investor confidence and share prices. The new investments in AI-focused companies signal continued deployment of capital in growth sectors, potentially enhancing future returns.
Northern 2 VCT PLC PLC, Northern 2 VCT PLC PLC, and Northern Trust PLC, all managed by Mercia Fund Management Limited, released their unaudited net asset values (NAV) as at 30 June 2026. Northern 2 VCT PLC reported NAV per share of 88.5 pence (up from 85.1 pence at 31 March 2026), Northern 2 VCT PLC reported 56.7 pence (up from 54.6 pence), and Northern Trust reported 60.1 pence (up from 57.8 pence). During the quarter, each VCT made two new investments: in Fifth Dimension AI, a software company providing decision-intelligence tools for real estate, and Flok Health, a digital healthcare company providing AI-enabled physiotherapy services. They also made additional investments in existing portfolio companies and realised several investments, including partial sales of Pure Pet Food and sales of AIM-quoted holdings such as Netcall, Pebble Beach Systems, ECO Animal Health, Synectics, Velocity Composites, CellBxHealth, and Sorted Holdings. The VCTs issued new shares under the final allotment of the 2025/26 fundraise, raising gross proceeds of £18.2 million for Northern 2 VCT PLC, £10.0 million for Northern 2 VCT PLC, and £14.1 million for Northern Trust. The VCTs maintain approval by HM Revenue & Customs under Section 274 of the Income Tax Act 2007.
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