Smith Square Partners advises the Board of Octopus Titan VCT plc on its strategic review

On 30 September 2024, the board of directors (the “Board”) of Octopus Titan VCT plc (“Titan” or the “Company”) announced a strategic review in response to a prolonged period of underperformance. Smith Square Partners LLP (“Smith Square”) was appointed by the Board as independent financial adviser to support the review across multiple workstreams, including historical performance analysis, ongoing sustainability, the forward-looking realisations pipeline, future investment strategy, and assessment of the portfolio manager’s resources, culture and governance. The Board also considered appointing a new portfolio manager and held a number of exploratory discussions with potential candidates.

On 12 September 2025, Titan announced the conclusion of the strategic review and published a Circular convening a general meeting to approve amendments to the Company’s investment policy. The Board concluded that shareholders’ best interests will be served by certain changes to the investment strategy of the Company and restructuring its arrangements with its portfolio manager, Octopus Investments Limited (“Octopus”). The changes provide better alignment between the performance of Octopus and shareholders’ interests as well as cost savings from a reduced annual management fee and the suspension of the performance fee until 1 January 2034.

On 14 October 2025, shareholders approved the adoption of the revised investment policy at the General Meeting (97.73% votes in favour).