Maven Income & Growth VCT 4 PLCs annual financial report for the year ended 31 December 2025 highlights a resilient performance despite economic challenges. Key points include
**NAV Total Return**Increased to 154.63p per Ordinary Share from 154.32p in 2024.
**NAV per Share**Decreased to 55.28p from 59.47p in 2024.
**Investments**Deployed over ยฃ6.6 million in new and follow-on investments.
**Exits**Completed two profitable private company exits and a partial realization post-period end.
**Dividends**Paid enhanced interim dividends of 2.75p and 1.00p per share, with a proposed final dividend of 0.60p, yielding 7.3% annually.
**Fundraising**Successfully raised ยฃ10 million through an Offer for Subscription in 2024 and launched a new offer in 2025.
**Portfolio**Added five new private companies, with a focus on high-growth sectors like SaaS, cybersecurity, and advanced manufacturing.
**Regulatory Changes**Welcomed increased VCT investment limits but expressed concern over reduced tax relief for investors post-April 2026.
**Treasury Management**Maintained a diversified portfolio of permitted non-qualifying holdings, ensuring compliance and generating a blended yield of over 3%.
**Strategic Focus**Continued emphasis on expanding the portfolio with high-growth potential companies and optimizing shareholder value through exits and dividends.
Overall, the company demonstrated adaptability and strategic growth amidst a challenging macroeconomic environment.
### Notes:
- **NAV per Ordinary Share**: Decreased by 7.04% from 59.47p in 2024 to 55.28p in 2025.
- **NAV Total Return**: Increased slightly by 0.20% from 154.32p to 154.63p.
- **Investments**: Over ยฃ6.6 million deployed in new and follow-on investments in 2025.
- **Dividends**: Enhanced interim dividends and a proposed final dividend leading to an annual yield of 7.3%.
- **Net Return on Ordinary Activities Before Taxation**: Significantly decreased by 78.12% from ยฃ2,235,000 to ยฃ489,000.
- **Net Gain on Investments**: Decreased by 56.36% from ยฃ3,107,000 to ยฃ1,356,000.
- **Earnings per Share**: Decreased by 79.75% from 1.58p to 0.32p.
- **Net Asset Value**: Increased slightly by 0.53% from ยฃ84,232,000 to ยฃ84,676,000.
- **Cash and Cash Equivalents**: Decreased slightly by 0.54% from ยฃ15,670,000 to ยฃ15,585,000.
- **Debt**: Increased by 35.35% from ยฃ331,000 to ยฃ448,000.