"Octopus Apollo VCT has launched an offer for up to £100 million (£75 million + £25 million overallotment). The VCT has total net assets of £523 million and a portfolio of around 45 companies. Octopus Apollo invests in B2B software businesses, targeting businesses that are at the most mature end of the VCT spectrum with revenues of £2-£8 million a year."
"Octopus Apollo's portfolio of B2B software companies is, by VCT standards, dull. B2B companies benefit from large, hopefully reliable, corporate customers. Software is an inherently cash generative business, since once the product's built it can be sold again and again with very little additional cost per customer. By targeting more established companies that are already making £2 million a year or more in revenues the manager hopes to invest after product-market fit has been achieved and the business has been substantially derisked."
Octopus Apollo VCT has launched an offer of up to £100 million, including a £25 million overallotment. The VCT holds £523 million in net assets and a portfolio of around 45 companies. The strategy focuses on B2B software businesses at the mature end of the VCT spectrum, typically generating £2–£8 million in annual revenue. Over the five years to September 2025 the VCT delivered a NAV total return of 53.2%. The VCT targets an average annual dividend equal to 5% of NAV. The manager targets companies with product-market fit and reliable corporate customers to prioritise cash generation and downside mitigation.
Read at London Business News | Londonlovesbusiness.com
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