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About

About Seneca Growth Capital VCT Plc

Seneca Growth Capital VCT Plc (“the Company”) is a Venture Capital Trust, launched in 2001, which now aims to generate returns from a diverse portfolio of both unquoted and AIM/AQSE quoted growth capital investments. Until 23 August 2018 the Company was called Hygea vct plc.

The Company made an initial allotment of B shares on 23 August 2018, at which point Seneca Partners Limited (“Seneca”) was appointed as the Company’s Investment Manager. Further to the success of the Company’s B Share offers in the last two years under which the Company has raised £7.2 million a new offer of B shares was launched on 13 October 2020 to raise, in aggregate, up to £10 million with an over-allotment facility of up to a further £10 million (before issue costs).

As the Company’s Investment Manager, Seneca are responsible for the management of the Company’s B share pool investments, whilst responsibility for the management of the Ordinary share pool investments has been delegated to those members of the Board of Directors who served immediately prior to 23 August 2018, namely John Hustler and Richard Roth. The Company continues to manage both share classes in accordance with its investment policy, having expanded the range of qualifying investments in 2018.

The Board

The Board comprises three non-executive Directors, two of whom are independent of the Manager. Although the management of the Company and the investment decisions in relation to the B Share portfolio will be delegated to the Manager and the Manager will act as the Alternative Investment Fund Manager, the Directors retain overall responsibility for the Company’s affairs.

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John Hustler

Independent non-executive Chairman

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John Hustler

Independent non-executive Chairman


Joined Peat Marwick, now KPMG, in 1965 and became a Partner in 1983. Since leaving KPMG in 1993 to form Hustler Venture Partners Limited, he has advised and been a director of a number of growing companies. He is presently Chairman of Octopus Titan VCT plc. He was also a member of the Council of The Institute of Chartered Accountants in England and Wales and Chairman of its Corporate Finance Faculty from 1997-2000, and was a member of the Council of the British Venture Capital Association from 1989-1991.

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Richard Roth

Independent non-executive Director

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Richard Roth

Independent non-executive Director


Is a director of all the Oxford Technology Venture Capital Trusts and Chairman of Oxford Technology 2 Venture Capital Trust Plc. He is a Chartered Management Accountant and worked in the airline industry for a number of companies including easyJet and the Monarch Group, and was CFO of RoyalJet. He has subsequently had a number of consulting assignments, in particular helping companies determine their strategy, and implementing business improvements. Richard has been a VCT investor for over 15 years. He has invested in a number of small (mainly unquoted) companies and has also advised several potential start-up businesses – mainly travel-related.

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Richard Manley

Non-executive Director

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Richard Manley

Non-executive Director


Richard is a director and CEO of and shareholder in Seneca. He qualified as a chartered accountant with KPMG in 2004, joined NM Rothschild’s leveraged finance team in Manchester in 2007 before joining Cenkos Fund Managers in 2008. Richard joined Seneca on launch in 2010. Richard has been involved in the development of all areas of Seneca’s business and played a key role in its journey from start up to managing more than £100m. He has been a continuous member of Seneca’s investment and credit committees and has been involved in all of Seneca’s EIS growth capital investments to date leading 25 of these. Richard became Managing Partner in 2016 and CEO in 2017.

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Alex Clarkson

Independent non-executive Director

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Alex Clarkson

Independent non-executive Director


Alex is Managing Director of Bamburgh Capital. He qualified as a chartered accountant with PricewaterhouseCoopers in 1998, joined Brewin Dolphin Securities in 2000 before becoming co-founder of Zeus Capital in 2003. Alex then went on to co-found Bamburgh Capital in 2011, executing over 20 transactions acting on both the “buy” and “sell” side and raising funding. During this time, Alex was co-founder of Compass BioScience Group Limited and Collbio, two highly acquisitive companies, and became interim CFO of Collbio which undertook an IPO on the London Stock Market within an 18-month period, changing its name to Collagen Solutions. Given Alex’s experience of public markets and growth capital investing, his expertise and knowledge are highly relevant to the ongoing success of the Company.

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