Key Information DocumentPURPOSE This document provides you with key information about this investment product. It is not marketing material. This information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products. You are about to purchase a product that is not simple and may be difficult to understand.Product: Triple Point Venture VCT plc, (the product or the VCT) Name of the PRIIP manufacturer:Triple Point Investment Management LLP (TPIM) Website: www.triplepoint.co.uk Call: +44 (0)20 7201 8989 Date of production of this document: 4 September 2024 TPIM is registered in England & Wales no. OC321250 and authorised and regulated by the Financial Conduct Authority (FCA) no. 456597. WHAT IS THIS PRODUCT? Type • Pay regular tax-free dividends to investors This product is an offer for new shares in the Triple Point • Maintain VCT status to enable investors to benefit from the Venture VCT plc, which is a Venture Capital Trust and anassociated tax reliefs Alternative Investment Fund (AIF). The share class launched on 18 September 2018 and is currently open to new Intended retail investor investment. The VCT has a premium listing on the Main The VCT has been designed for retail investors who Market of the London Stock Exchange. understand the risks and benefits of early stage investing and want to benefit from our challenge-led approach. Objectives and Summary Investment Policy The product aims to provide capital growth for investors, Investors should be UK taxpayers, over 18 years of age and where shares are invested for at least five years, whilst with one or more of the following characteristics: enabling investors to benefit from available VCT tax reliefs. The VCT aims to invest in businesses which have the • Understands the risk of investing in illiquid assets potential to generate long term capital growth, typically • An understanding that investing in small, young businesses investing in early stage companies often at seed andcomes with a higher risk profile than traditional investments pre-seed funding rounds - looking to maximise financial • Sufficient income and capital to commit to invest for the returns by investing in innovative companies solvingrecommended holding period (at least five years) and the real-world corporate challenges.ability to bear losses of up to 100% of the capital invested • Sufficient earnings to be able to benefit from the VCT The key objectives of the VCT are to: tax reliefs • Achieve capital growth for investors by investing in young, innovative companies with the potential to deliver Insurance benefits ground-breaking technology or products at scale and The VCT does not have any insurance benefits. transform marketsTriple Point Venture VCT plc Key Information Document 1 WHAT ARE THE RISKS AND WHAT COULD I GET IN RETURN? Risk indicator Lower Higher The risk indicator assumes you will hold the investment Risk Riskfor five years. The actual risk can vary significantly if you cash in at an early stage and you may get back less. You may not be able to cash in early. You may not be able to sell your product easily or you may have to sell1 2 3 4 56 7 at a price that significantly impacts on how much you get back. Risk summary The summary risk indicator is a guide to the level of risk of These investments do not include any protection from future these investments compared to other products. It shows how market performance so you could lose some or all of your likely it is that these investments will lose money because of investment. If the VCT were not able to pay what is owed, movements in the markets or because we are not able to pay you could lose your entire investment. However, you may you. We have classified this investment as 6 out of 7, whichbenefit from a consumer protection scheme (see the section is the second-highest risk class. This rates potential losses “what happens if we are unable to pay you”). The indicator from future performance at a high level, and poor marketabove does not consider this protection. conditions are very likely to impact the capacity of the VCT to pay you. This is because the VCT invests in early stage unquoted companies which, by their nature, involve a higher degree of risk than some other investments. INVESTMENT PERFORMANCE INFORMATION The performance of the VCT is dependent on the ability portfolio. How many companies are successful, and the level of Triple Point to source appropriate investments for the of that success will be a key factor in positively impacting VCT and on the selected Investee Companies performing your dividends and capital growth. Our challenge-led as expected. While our challenge-led approach seeks approach seeks to maximise this by selecting investments to increase the ratio of successful businesses within the that have already received market-validation. A buoyant portfolio, and therefore the returns to VCT investors, some market for VCT shares will also increase your ability to benefit companies within the portfolio will still fail. from the strong performance of such investee companies. There is no cap on the investment returns from these The VCT tax reliefs are dependent on individual successful investments. circumstances and anyone that is unsure as to whether they will be able to take advantage of any such reliefs should seek What could affect my return negatively? financial advice before investing. As mentioned above, not all investments in the portfolio will be successful and factors from changes in market conditions VCT shares are usually illiquid and must be held for five to new regulatory requirements can impact an investee years to qualify for the tax reliefs available. You may wantcompany’s performance. If fewer investee companies are to hold your shares for longer than this to maximise returnssuccessful, the value of your VCT investment would be and secure the best sale price as VCT shares are infrequently impacted. Where the VCT portfolio does perform well, the traded. Please note there is no relevant index or benchmark market for shares is a consideration and it may be harder to for Venture Capital investments.find a buyer during a negative economic cycle. Where it is hard to find a buyer and/or where the VCT is unable to buy What could affect my return positively? back your shares, selling your investment quickly may mean Venture capital investments are high risk but also come withaccepting a price that is lower than the net value of the VCT’s the potential of high return. It is generally accepted that a assets or a sale may not be possible at all. Please see the Risk number of early stage investments will fail but that value Factors section of the Brochure for more details of what could will be generated by the successful investments within the negatively impact your return. WHAT HAPPENS IF TRIPLE POINT IS UNABLE TO PAY OUT An investment in the VCT is not covered by the FinancialClient Account, prior to shares being allotted. While money is Services Compensation Scheme (the FSCS). As such FSCS held in the Client Account it is protected by the FSCS deposit protection does not apply to investments held in the VCTprotection which is currently £85,000 per eligible person per once shares have been allotted. However, deposit protection bank. To find out more go to www.fscs.org.uk. applies to when money belonging to investors is held in the Triple Point Venture VCT plc Key Information Document 2 WHAT ARE THE COSTS? The Reduction in Yield (RIY) shows what impact the totalThe person selling or advising you about this investment may costs you pay will have on the investment return you might charge you other costs. If so, this person will provide you with get. The total costs take into account one-off, ongoing and information about these costs and show you the impact that incidental costs. The amounts shown here are the cumulative all costs will have on your investment over time. costs of the product itself, for three different holding periods. There are no potential early exit penalties. The figures assume you invest £10,000 and are estimates which may change in the future. Investment of If you cash in If you cash in If you cash in £10,000after one year after three yearsafter five years Total costs£515£1,069 £1,664 Impact on return (RIY) per year % 5.31% 3.57%3.22% The table below shows the impact each year of the different types of costs on the investment return you might get at the end of the recommended holding period; and the meaning of the different cost categories. Composition of Costs This table shows the impact on return per year based on the recommended five year holding period One-off costs Entry Costs 0.48% The impact of the costs you pay when entering your investment. Ongoing costs Exit costs 0.00% The impact of the costs of exiting your investment when it matures. There are not any applicable exit costs. Portfolio 0.05% The impact of the costs of us buying and selling underlying investments for the VCT. transaction costs Other ongoing 2.58% The impact of the costs that we take each year for managing investments for the VCT. This costs figure includes 2% management fees. Total ongoing costs are capped at 3.5% Incidental costs Performance fees0.12% The impact of the performance fee. Triple Point is entitled to a performance fee of 20% on the NAV’s total return in excess of an annual threshold of 3.0% calculated on a compound basis. Example based on a moderate return scenario over 5 years. Carried interests 0.00% The impact of carried interests. There are no carried interests applicable to this product.HOW LONG SHOULD I HOLD IT AND CAN I HOW CAN I COMPLAIN? TAKE MONEY OUT EARLY? Triple Point has a complaints procedure in place which requires the firm to deal fairly with any complaint received. If Recommended holding period an investor has a complaint, they should write to Complaints, The recommended holding period of this investment is a Triple Point Investment Management, 1 King William Street, minimum of five years which is necessary to benefit from London, EC4N 7AF, who will acknowledge receipt of your the VCT tax reliefs, but investments may be held for longer letter, investigate the circumstances and report back to you. to maximise returns given the early stage nature of the If the investor remains unsatisfied with Triple Point’s handling underlying holdings and as exits are only expected to take of the complaint, they may be eligible to refer the complaint place within five to ten years from the VCT’s first investment. to the Financial Ombudsman Service. Therefore, you should recognise an investment in the VCT is long term in nature. Shares in the VCT may be illiquid. The VCT offers investors a share buyback facility, provided there are funds available and subject to the Board’s OTHER RELEVANT INFORMATION discretion, priced at a 5% discount to the NAV. Full details For a detailed overview of risks and the terms and conditions of this facility can be found in the Prospectus available at associated with an investment in the VCT, please refer to the https://www.triplepoint.co.uk. Brochure and Prospectus available on the Triple Point website or on request at contact@triplepoint.co.uk. Should investors dispose of shares before the end of the five year holding period they will be required to repay any income tax relief received. There is no tax claw-back on a disposal following the death of the investor within the five year holding period. Triple Point Venture VCT plc Key Information Document 3