Update on Fundraising

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BARONSMEAD SECOND VENTURE TRUST PLC

LEI: 2138008D3WUMF6TW8C28

6 January 2021

Update on Fundraising

On 17 September 2020 Baronsmead Second Venture Trust plc (the "Company") launched, in conjunction with Baronsmead Venture Trust plc an offer for subscription (the "Offer") to each raise up to £20 million together with an over allotment facility to each raise up to a further £17.5 million (the "Over Allotment Facility").

The Directors have been advised that, on the basis of the subscription forms that have been received so far, the Company will soon have raised the initial £20 million. Therefore, the Board has resolved that it is in the best interests of shareholders to utilise the Over Allotment Facility and subscriptions will be accepted to raise an additional £10 million, subject to the terms of the Offer. The Board will monitor the volume of subscriptions received from shareholders in relation to the Over Allotment Facility and the levels of investment activity and may release the remaining £7.5 million of new shares available under the Over Allotment Facility in due course.

Further information

For further information please contact:

Baronsmead VCT Investor Relations

020 3875 9862

[email protected]

Notes

This announcement does not constitute or form part of any offer to issue or sell, or any solicitation of any offer to subscribe or purchase, any investment in any jurisdiction, nor shall it (or the fact of its distribution) form the basis of, or be relied on in connection with, any contract therefor.

The issue and the distribution of this announcement and the Prospectus in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to in this announcement and the Prospectus comes should inform themselves about and observe any such restriction.  Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.