The launch closely follows that of the Titan twin VCT in November last year. The twin trusts, known as Octopus Titan 1 and 2, have raised more than £30 million to date.

As with its forerunners, the typical deal size for Octopus Titan 3 VCT will be between £500,000 and £2 million. No more than ten per cent of the fund will be invested in any one company, and the portfolio will ‘encompass a broad range of sectors’, with particular emphasis on ‘key market growth sectors’, according to managers.

Simon Rogerson, chief executive of Octopus Investments, comments: ‘VCTs are one of the most attractive investment opportunities, given the combination of the substantial tax benefits they offer and the access they provide to what has historically been the UK’s best-performing asset class.’