Portfolio also includes fintech and AI-commerce businesses Aveni, Pockit and Azoma
Puma Investments has opened a new £50 million fundraise for Puma VCT 13, giving retail investors access to a portfolio of more than 25 UK growth businesses. The VCT has invested more than £130 million since launching in 2018, including £19 million into new portfolio companies over the last 12 months. Its holdings include consumer brands LOVE CORN, MOTH Cocktails and Lucky Saint, alongside fintech and AI businesses such as Azoma, Aveni and Pockit.
Pockit won the UK Business Tech Awards Fintech of the Year 2025 award, while Aveni won the Innovation in Fintech award at the Barclays Entrepreneur Awards 2025, according to the release. Puma VCT 13 is also described as an early backer of influencer marketing agency Influencer, which the company said connects global brands including Apple, Nike, Pepsi and Spotify with content creators and has expanded across Europe, the Middle East and the US.
Over the past 12 months, the VCT invested a further £19 million into new portfolio companies including Azoma, HubBox, MOTH Cocktails and YASO. Azoma is described as an Agentic Commerce Optimisation platform helping brands with product discovery on AI shopping agents including ChatGPT, Gemini, Amazon Rufus and Walmart Sparky, with clients including L’Oréal, Unilever, Mars, Beiersdorf and Reckitt. HubBox provides out-of-home delivery software for e-commerce retailers, working with companies including UPS, DPD, Royal Mail, Asendia, PostNord and DHL. YASO is described as an operating system enabling global consumer brands to grow in China, with clients including Cowshed and Pixi Beauty.
The fundraise follows changes to VCT rules that took effect on 6 April 2026, which the company said increase both the size of companies that can qualify for VCT funding and the amount of investment they can receive. Puma Investments said this expands the opportunity for Puma VCT 13 to invest in more established scale-ups and provides greater flexibility to support existing portfolio companies as they grow.
Jessica Franks, Commercial Director at Puma Investments, said: “The UK has a strong track record of creating innovative businesses, but the challenge is ensuring they can access the capital they need to scale. The recent doubling of the VCT investment limits is an important step forward, giving VCTs greater capacity to support businesses further along their growth journey and helping to address a long-standing gap in UK scale-up capital.”
In Case You Missed It:
SNIB commits £50m to CIP’s Devilla as Scottish public capital deepens its role in UK battery build-out
Scotland’s Growth Businesses Are Resilient — But Tariffs, Energy Costs and Supply Chains Are Tightening the Squeeze
Scottish businesses report stronger optimism about their own trading prospects
Hoose Ltd Wins 2026 HEAT Competition for Forth Valley Businesses
Rupert West, Fund Manager, Puma VCT 13, said: “Puma VCT 13 gives investors access to a mature and diversified portfolio, from consumer brands such as LOVE CORN, MOTH Cocktails and Lucky Saint, to technology businesses responding to major shifts in commerce and financial services. New portfolio company Azoma is a good example of this. It is helping global brands navigate the move towards AI-powered product discovery. This fundraise will allow us to continue backing established businesses with the potential to become leaders in their markets.”
All Puma VCT 13 investors, including new investors, who are shareholders on the company’s register on 15 January 2027 are eligible for an upcoming 3.5p dividend. Puma Investments said eligible UK taxpayers investing in new VCT shares may benefit from up to 20% upfront income tax relief on investments of up to £200,000 per tax year, tax-free dividends, and tax-free capital gains when shares are sold.
