Octopus AIM VCT 2 plc
Portfolio Update
The investment portfolio of Octopus AIM VCT 2 plc (the "Company") as at 9 January 2026 is as follows (the valuations being the unaudited valuations, at bid price, as at 30 November 2025):
| Investee Company | Sector | Book cost (£000) | Movement in valuation (£000) | Fair Value (£000) |
|
| Hasgrove Limited * & *** | Unquoted Investment | 153 | 9,267 | 9,420 | |
| Craneware plc | Health Care Providers | 479 | 2,912 | 3,391 | |
| Popsa Holdings Limited * | Unquoted Investment | 1,060 | 1,586 | 2,646 | |
| Netcall plc | Software and Computer Services | 356 | 2,128 | 2,484 | |
| Idox PLC | Software and Computer Services | 314 | 1,985 | 2,299 | |
| Animalcare Group plc | Pharmaceuticals and Biotechnology | 824 | 1,346 | 2,170 | |
| Aurrigo International plc | Technology Hardware and Equipment | 1,105 | 526 | 1,631 | |
| GB Group plc ** | Software and Computer Services | 337 | 1,061 | 1,398 | |
| Judges Scientific plc | Electronic and Electrical Equipment | 157 | 1,207 | 1,364 | |
| Brooks Macdonald Group plc ** | Investment Banking and Brokerage Services | 610 | 625 | 1,235 | |
| Diaceutics plc | Health Care Providers | 620 | 603 | 1,223 | |
| Vertu Motors plc | Retailers | 777 | 416 | 1,193 | |
| Abingdon Health plc | Medical Equipment and Services | 1,677 | (517) | 1,160 | |
| Beeks Financial Cloud Group plc ** | Software and Computer Services | 272 | 885 | 1,157 | |
| PCI-Pal plc | Software and Computer Services | 863 | 244 | 1,107 | |
| SDI Group plc | Electronic and Electrical Equipment | 119 | 952 | 1,071 | |
| EKF Diagnostics Holdings plc | Medical Equipment and Services | 737 | 134 | 871 | |
| Windar Photonics plc | Electronic and Electrical Equipment | 624 | 140 | 764 | |
| Haydale Graphene Industries plc | Industrial Materials | 1,238 | (481) | 757 | |
| Gear4music Holdings plc | Leisure Goods | 353 | 377 | 730 | |
| Ixico plc | Pharmaceuticals and Biotechnology | 1,101 | (393) | 708 | |
| Equipmake Holdings plc | Electronic and Electrical Equipment | 1,414 | (741) | 673 | |
| Nexteq plc | Technology Hardware and Equipment | 338 | 308 | 646 | |
| Strip Tinning Holdings plc (Loan) * | Unquoted Investment | 600 | - | 600 | |
| Ilika plc | Electronic and Electrical Equipment | 706 | (115) | 591 | |
| The Beauty Tech Group plc ** | Personal Care, Drug and Grocery Stores | 576 | 2 | 578 | |
| JTC plc | Investment Banking and Brokerage Services | 401 | 130 | 531 | |
| Applied Nutrition plc ** | Food Producers | 331 | 157 | 488 | |
| Itaconix plc | General Industrials | 1,059 | (582) | 477 | |
| Oberon Investments Group plc | Investment Banking and Brokerage Services | 576 | (110) | 466 | |
| Cranswick plc ** | Food Producers | 404 | 60 | 464 | |
| Wise plc ** | Industrial Support Services | 364 | 89 | 453 | |
| Gamma Communications plc ** | Telecommunications Service Providers | 183 | 267 | 450 | |
| GENinCode plc | Medical Equipment and Services | 1,654 | (1,210) | 444 | |
| Cambridge Cognition Holdings plc | Health Care Providers | 717 | (308) | 409 | |
| Tan Delta Systems plc | Electronic and Electrical Equipment | 302 | 47 | 349 | |
| Eden Research plc | Chemicals | 1,080 | (748) | 332 | |
| KRM 22 plc | Software and Computer Services | 618 | (290) | 328 | |
| Bloomsbury Publishing Plc ** | Media | 419 | (120) | 299 | |
| DP Poland plc | Travel and Leisure | 678 | (441) | 237 | |
| Bytes Technology Group plc ** | Software and Computer Services | 326 | (123) | 203 | |
| Haydale Graphene Industries Plc (Loan) * | Unquoted Investment | 200 | - | 200 | |
| Alusid Limited * | Unquoted Investment | 200 | - | 200 | |
| GETECH Group plc | Oil, Gas and Coal | 200 | (10) | 190 | |
| MyCelx Technologies Corporation | Electronic and Electrical Equipment | 980 | (828) | 152 | |
| Rosslyn Data Technologies plc | Software and Computer Services | 779 | (644) | 135 | |
| TPXimpact Holdings plc | Software and Computer Services | 653 | (521) | 132 | |
| Gelion plc | Electronic and Electrical Equipment | 760 | (658) | 102 | |
| Velocity Composites plc | Aerospace and Defence | 533 | (433) | 100 | |
| Crimson Tide plc | Software and Computer Services | 378 | (296) | 82 | |
| Creo Medical Group plc | Medical Equipment and Services | 981 | (903) | 78 | |
| Fusion Antibodies plc | Health Care Providers | 497 | (426) | 71 | |
| Mears Group plc ** | Industrial Support Services | 51 | 14 | 65 | |
| Verici Dx plc | Pharmaceuticals and Biotechnology | 1,003 | (947) | 56 | |
| XP Factory PLC | Travel and Leisure | 659 | (605) | 54 | |
| Feedback plc | Medical Equipment and Services | 1,000 | (948) | 52 | |
| ENGAGE XR Holdings plc | Software and Computer Services | 1,253 | (1,202) | 51 | |
| Strip Tinning Holdings plc | Electronic and Electrical Equipment | 337 | (291) | 46 | |
| DXS International plc | Software and Computer Services | 200 | (170) | 30 | |
| Northcoders Group plc | Software and Computer Services | 253 | (225) | 28 | |
| 1Spatial plc | Software and Computer Services | 200 | (173) | 27 | |
| TheraCryf plc | Pharmaceuticals and Biotechnology | 700 | (684) | 16 | |
| Tasty plc | Travel and Leisure | 336 | (331) | 5 | |
| Genedrive Plc | Pharmaceuticals and Biotechnology | 145 | (143) | 2 | |
| Metir plc | Electronic and Electrical Equipment | 922 | (922) | - | |
| Sorted Group Holdings plc | Software and Computer Services | 509 | (509) | - | |
| Airnow Limited * | Unquoted Investment | 838 | (838) | - | |
| The British Honey Company plc | General Retailers | 880 | (880) | - | |
| Enteq Upstream plc | Oil, Gas and Coal | 687 | (687) | - | |
| Cloudified Holdings Limited | Software and Computer Services | 600 | (600) | - | |
| Rated People Ltd * | Unquoted Investment | 236 | (236) | - | |
| ReNeuron Group plc | Pharmaceuticals and Biotechnology | 990 | (990) | - | |
| Trackwise Designs plc | Technology Hardware and Equipment | 1,289 | (1,289) | - | |
| Verici Dx Plc | Pharmaceuticals and Biotechnology | 41 | (41) | - | |
| The Food Marketplace Ltd * | Unquoted Investment | 200 | (200) | - | |
| LungLife AI Inc | Pharmaceuticals and Biotechnology | 1,386 | (1,386) | - | |
| Libertine Holdings plc | Industrial Engineering | 2,000 | (2,000) | - | |
Since 30 November 2025 Octopus AIM VCT 2 plc has made £2.5 million investments and £9.3 million disposals.
Unless otherwise stated, all the investments set out above:
Cloudified Holdings Limited - British Virgin Islands
ENGAGE XR Holdings plc - Republic of Ireland
JTC plc - Jersey
LungLife AI Inc – USA - USA
MyCelx Technologies Corporation – USA
Windar Photonics – Denmark
* Denotes unlisted company
** Denotes company listed on the main market of the London Stock Exchange
*** Sale completed post 30 November 2025
Current Asset Investments (unaudited)
| Portfolio Company | Book cost (£’000) | Fair Value (£’000) |
| FP Octopus UK Microcap Growth Fund | 5,412 | 5,475 |
| FP Octopus UK Multi Cap Income Fund | 1,811 | 2,271 |
| FP Octopus UK Future Generations Fund | 1,684 | 1,620 |
| JPMorgan Sterling Liquidity Fund | 5,650 | 5,650 |
| BlackRock ICS Sterling Liquidity Fund | 5,607 | 5,607 |
| HSBC Sterling Liquidity Fund | 5,641 | 5,641 |
Since 30 November 2025 the Company has disposed of £0.6m from current asset investments.
The capitalisation of Octopus AIM VCT 2 plc as at 30 November 2025 was as follows:
| Shareholders' Equity | £’000s | |
| Called up Equity Share Capital | 21 | |
| Legal reserves | 690 | |
| Other reserves | 76,720 | |
| Total | 77,431 | |
There has been no material change to the capitalisation since 30 November 2025.
For further information please contact:
Rachel Peat
Octopus Company Secretarial Services Limited
Tel: +44 (0)80 0316 2067
LEI: 213800BW27BKJCI35L17
