Gresham House Income & Growth VCT NAV dips 1.29p in Q2 2025

LONDON - Gresham House Income & Growth VCT plc reported a decrease in its net asset value (NAV) per share to 66.59p for the quarter ended June 30, 2025, down 1.29p from 67.88p at the end of March, according to a company press release statement.

The decline was primarily attributed to a 2.50p per share dividend payment made on April 11, which was partially offset by an increase in the unrealised valuation of the portfolio. On a total return basis, adjusting for the dividend payment, the NAV per share increased by 1.21p or 1.8% during the quarter.

The company, which changed its name from The Income & Growth VCT plc on June 18, 2025, reported net assets of £215.88 million as of June 30, compared to £218.73 million at the end of March. The number of shares in issue increased to 324,196,653 from 322,242,893.

During the quarter, the company made four new investments totaling approximately £5.69 million, including £2.49 million in Nu Quantum Limited, a quantum networking hardware developer, and £1.28 million each in Spinners Group Limited and Modo25 Limited.

The company also completed three exits during the period. Its investment in Rotageek Limited was sold to Elmo Software for £4.56 million, representing a 1.5x multiple on the original investment cost. The company also divested its stakes in MyTutorweb Limited and SEC Group Limited.

After the quarter end, Gresham House Income & Growth VCT completed three follow-on investments totaling £1.12 million and repurchased 2,007,084 of its own shares at 62.11p per share.

On September 22, 2025, the company declared a second interim dividend of 2.50p per share for the year ending September 30, 2025, payable on October 30 to shareholders on record as of October 3.

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