Oxford Technology 3 Venture Capital Trust plc
OTT.L
London Stock Exchange34.00
GBp
-2.00
(-5.56%)
Oxford Technology 3 Venture Capital Trust plc
OTT.L
(London Stock Exchange)
Recent
price
34.00
P/E
ratio
-0.13
div
yld
- -
ROIC.AI
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- Business
- Oxford Technology 3 Venture Capital Trust plc (OTT.L) is a United Kingdom-based closed-end venture capital trust that provides equity financing to early-stage, technology-based companies, primarily unlisted science, technology and engineering businesses located within approximately 60 miles of Oxford; it invests typically in the range of £100,000 to £500,000 per company and targets start-ups that have developed initial products or services close to first sales, with a portfolio historically including biopharmaceuticals such as Scancell Holdings plc and Arecor Therapeutics plc (both now AIM-listed), document management software distributor Select Technology Ltd, vaccine developer ImmunoBiology Ltd (ImmBio), and others like Diamond Hard Surfaces Ltd, BioCote Ltd and Getmapping Ltd. The trust, founded in 2002 and headquartered at Magdalen Centre, Oxford Science Park, Oxford, raised initial capital of £5.4 million in 2002-03 with further top-up offers totalling £995,000 through 2007-10, paying cumulative dividends of 42 pence per share to February 2022 from prior exits including Telegesis, Allinea, Commerce Decisions, BioAnaLab, MET and Ixaris; it operates within the UK with a focus on maximising shareholder value through managed exits and distributions via dividends or buybacks. In a major strategic reorganisation, Oxford Technology 3 VCT merged as a separate share class into Oxford Technology 2 Venture Capital Trust plc on 30 June 2022, retaining its net asset value tracking and portfolio while benefiting from consolidated costs and operations under OT2 Managers Ltd (services subcontracted to Oxford Technology Management Ltd); the OT3 share class NAV declined to 15.1 pence per share at 28 February 2025 from 22.4 pence a year earlier amid market challenges for early-stage tech, with key portfolio developments including Select Technology's September 2024 acquisition of NordicDoc Solutions AB (boosting pro forma turnover by about 25% and expanding European presence), ImmBio's IP exchange for a £4 million grant to fund a Phase 2 trial of its PnuBioVax pneumococcal vaccine in Malawi (with dosing imminent and valuation up over 20%), a liquidity-driven sale of 580,000 Scancell shares at a small profit, receipt of final Ixaris deferred consideration, and ongoing clinical progress at Scancell (ImmunoBody and Moditope platforms) and Arecor (Arestat-formulated insulins and peptides) despite share price declines of 19% and 64% respectively.