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<p>Dr Stuart Rollason<br>Investment Director, Puma Investments</p>

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Big is not always better

Puma Public Markets

Puma Public Markets is focused on small and midcap listed markets, favouring companies with strong margins, good returns and a consistent track record of cash generation. It is led by an experienced fund manager, Dr Stuart Rollason.

Puma Public Markets | Puma Capital Group

Dee Korab, Head of Impact at Puma Property Finance, explores why sustainability is now essential for protecting value and attracting investment.

Sustainability, liquidity and the cost of capital: why the real opportunity lies ahead for developers

Puma VCT 13 and Puma Alpha VCT have made a follow-on investment into HR Duo, the HR and workforce management SaaS platform for frontline-heavy businesses. 

Puma VCTs make follow-on  investment into HR Duo

Puma has provided a £14 million loan to the Morrison Community Care Group (“MCCG”) to fund the development of a new purpose-built 70-bed care home in Ipswich, Suffolk.

£14m loan provided to Morrison Community Care for new Ipswich care home

Portfolio company CameraMatics, the AI-powered video telematics and fleet intelligence platform, has successfully closed a major new funding round.

CameraMatics successfully closes a major new funding round

Puma VCTs make follow-on investment into Aveni

Insights from Bikmo and Puma Growth Partners on when scaling founders should appoint a Chair and how it strengthens governance.

Bringing in a Chair: a founder’s view from the inside

Puma Property Finance has provided a £15 million loan to Kier Property to fund the development of a new industrial and logistics development south of Manchester at the Sharston Industrial Estate, Wythenshawe.

£15m loan to Kier Property for Manchester industrial and logistics development 

In conversation with Lucky Saint: how the UK’s leading alcohol‑free beer brand is scaling through bold marketing, brand-building and innovation.


In conversation with Lucky Saint: Building the world's defining alcohol-free beer brand  

The Spring edition of Prosper magazine features portfolio highlights, interviews, industry news and practical resources to keep Shareholders informed.

Prosper magazine: portfolio updates for Puma VCT shareholders

Founder insights from LOVE CORN and Influencer on US expansion, economics, hiring and execution for UK scale‑ups going global strategies.

Going global – lessons from LOVE CORN and Influencer

Puma Property Finance has provided a £19 million loan to the McGoff Group to fund the development of a new purpose-built 70 bed care home and 14 residential townhouses in Congleton, Cheshire.

Puma Property Finance’s Impact Lending Framework delivers the first UK EDGE-certified care home

£19m loan to fund the development of a new care home and residential townhouses

Puma Property Finance and KKR form a joint venture to provide up to £500m in senior loans for UK residential, Build‑To‑Rent and student housing developments.

Puma Property Finance and KKR form up to £500m strategic joint venture to expand UK living sector lending 

Since inception, Puma has now funded over £500 million of new care homes, supporting the delivery of 49 care homes and more than 3,500 new care beds nationwide. 

Puma accelerates delivery of new UK care beds with £150m care loans provided in 2025

Puma Property Finance has provided a £20 million loan to McLaren Property, the leading residential and student accommodation developer, to support the delivery of a 145 studio co living scheme in Exeter city centre. 

£20m loan provided to McLaren Property for Exeter co-living scheme

Puma’s Personal Development Grant encourages employees to grow beyond the workplace, offering £200 each year to learn a new skill, pursue a passion or deepen an existing hobby. From Muay Thai and piano lessons to skiing, padel, yoga and creative workshops, the grant has helped colleagues build confidence, find community and enjoy meaningful personal development. The programme reflects Puma’s belief that growth is multifaceted - enhancing wellbeing, resilience and fulfilment both professionally and personally.

Puma benefit spotlight: Personal Development Grants

Gayle’s appointment will further strengthen Puma’s deal execution, portfolio oversight and legal rigour across its investment lifecycle.


Puma Growth Partners continues senior team expansion with Gayle Hawke appointment

Puma Growth Partners has completed an exit from premium cycling apparel brand Le Col, following its sale to global sports leader HEAD Group.

Puma Growth Partners announces sale of cycling brand Le Col to HEAD Group

Puma provides its largest loan to date, backing a major low‑carbon redevelopment to deliver 165,000 sq. ft. of Grade A office space in Bristol’s Harbourside. 

£74m redevelopment of iconic Canons Wharf in Bristol

Louis is the first in a series of strategic senior hires to strengthen Puma’s ability to support portfolio companies and drive growth.


Puma Growth Partners expands senior team with Louis Hopgood appointment

Rupert West and Jessica Franks discuss Autumn Budget 2025 VCT changes, what the new limits mean, and the potential impact on investors and Puma VCT strategy.

Autumn Budget 2025: VCT tax changes explained 

Puma Property Finance (“Puma”) is pleased to report the first close of Puma Real Estate Secured Credit Fund (“PRESC”), underpinned by a cornerstone commitment from Madison International Realty (“Madison”), a leading New York headquartered real estate private equity firm.

Puma Property Finance announces first close of Puma Real Estate Secured Credit Fund

Puma Investments is pleased to announce the launch of a new £20 million fundraise for Puma Alpha VCT, offering new and existing investors the opportunity to access a carefully curated portfolio of ambitious UK scale-ups. The VCT is designed to deliver attractive returns by investing in established businesses that have moved beyond the start-up phase and are demonstrating strong commercial growth.

New fundraise of £20m for Puma Alpha VCT to continue backing ambitious UK scale-ups

Farida Nurbhai, Business Development Manager at Puma Investments, shares her experience of balancing motherhood with her career.

What it’s really like being a Business Development Manager, a Manager, and mum, all before lunchtime

Puma VCTs have invested in HubBox

Puma Property Finance has provided a £45m loan for Victory Group to redevelop a 22,000 sq. ft. sustainable office building on Jermyn Street, St James’s, London.

£45m loan for prime central London office redevelopment

Puma Growth Partners visited Love Corn in New York and New Jersey to support its rapid US expansion, focusing on retail strategy, supply chain and brand positioning to drive sustainable growth.

Stateside with Love Corn: Strategic partnership in action

Puma Property Finance has provided three loans worth a total of £31 million to North Bay to fund the development of three care homes across the UK.

£31m loan to North Bay for three new UK care homes

Jessica is an accountant (ICAEW) and Chartered Tax Adviser (CIOT) with experience spanning asset management, HNW and private practice. She will play a critical role in growing Puma Investment's brand, industry connectivity, client engagement and innovative product design. 



Puma Investments appoints Jessica Franks as Commercial Director 

Jenny joined Puma in 2023 as Senior Strategic Partnerships Manager and has more than a decade of front‑line distribution and partnerships expertise. Through her career to date, she has built a deep and trusted network across the UK adviser community.

Puma Investments announces the promotion of Jenny Hunt to Head of Strategic Partnerships

In conversation with Rupert West, Managing Director. Hear Rupert's perspective on deal origination, portfolio strategy and the outlook for scale-up companies in the current environment.

In conversation with Rupert West: Accelerating growth- our approach to supporting scale-up businesses

New impact lead Dee Korab brings HSBC and ANZ experience to Puma Property Finance's strategy.


Puma Property Finance appoints Dee Korab as Head of Impact

A 432-bed purpose-built student accommodation scheme in Glasgow city centre, known as Broadway Studios, will be developed using the secured funding.

£58m loan to MRP for prime Glasgow PBSA development

Following a strong year of investment deployment into various high-growth UK scale-ups, Puma VCT 13 has launched a new £50 million fundraise.

Puma VCT 13 launches new £50m fundraise following strong deployment year

An operating system that enables global consumer brands to grow in the Chinese market

Puma VCTs have invested in YASO

Steve Emsley joins to help boost the institutional credit fund strategy with 18+ years’ industry experience.

Puma Property Finance appoints Steve Emsley as Finance Director

Louise Gillon is recognised as a leading authority on the hospitality sector, having previously spent 16 years heading up Leumi UK’s Hotel Finance team.

Puma Property Finance appoints Louise Gillon as Director, Head of Hotels

The fundraise follows the successful launch and listing of the VCT in September last year, the first AIM VCT in 18 years and the 15th Puma VCT launched since 2004.

Puma Investments launches new fundraise for Puma AIM VCT 

Q&A with Darius Laud, Origination Manager 

Inside Origination - Q&A with Darius Laud, Origination Manager 

From day one, the Puma Property Finance team made it clear they were invested in my growth at Puma. 

Jordan Gbamanja reflects on his internship at Puma

Helping to transform how businesses deliver rewards, incentives, and payouts worldwide.

Puma VCTs have invested in Runa, a leading global fintech infrastructure payments provider

Having an internship at Puma Growth Partners has been an incredible experience. From the first day, I felt welcomed and valued as a team member.

Daniel Adeusi reflects on his internship at Puma

The funding will to be used to fund the development of a market leading urban logistics development near Edinburgh Airport.

Puma Property Finance provides a loan to GSS Developments to fund urban logistics development

My internship at Puma Capital Group has truly been invaluable. From my first day, I was warmly welcomed by everyone, and people were always happy to share career advice and talk about their own journey. 

Beverley Azoba reflects on her internship at Puma

Joint research by Puma Property Finance and UCL highlights how limited transparency around sustainable finance may be hindering developers from adopting greener solutions.

Puma Property Finance and UCL research reveals less than 30% of development lenders offer clear sustainable finance solutions

This strategic hire marks a significant milestone in Puma’s continued growth and commitment to delivering exceptional service and investment opportunities to individual investors, their financial advisers and wealth managers. 

Puma Investments appoints Jeremy Roberts as Managing Director 

During May, 14 members of the Puma team bravely took on the Tough Mudder challenge to raise funds for our nominated charity of the year, The Honeypot Children's Charity. 

Pumas conquer Tough Mudder for The Honeypot Children's Charity

Madison has acquired a 24.5% minority stake in Puma Property Finance

Puma Property Finance enters strategic partnership with Madison International Realty 

A new strategic partnership with Madison International Realty 

Puma Investments launches Puma AIM VCT plc (LON: PAIM) on the LSE, the first AIM-focused VCT in 18 years, and has already backed its first scale-up company.

Puma AIM VCT launches on the London Stock Exchange – the first new AIM VCT in 18 years

The funding will be used to develop a state of the art Grade A industrial facility known as ‘Logistics City MK’

£21m loan for the development of a new industrial logistics unit in Milton Keynes

With savoury snacks now the largest and fastest growing category in food & beverage (F&B), LOVE CORN has grown rapidly since launching in 2016 and is now sold in 5,000 stores in the UK.

Puma VCTs have invested in LOVE CORN, a leading UK snack brand

We are thrilled to announce that Puma Capital Group has been certified as a B Corporation (or B Corp), joining the growing movement of companies that are reinventing business for the benefit of all people and our shared planet. 

Puma Capital Group becomes a Certified B Corporation

We are thrilled to announce that Puma Investments has been certified as a B Corporation (or B Corp), joining the growing movement of companies that are reinventing business for the benefit of all people and our shared planet. 

Puma Investments becomes a Certified B Corporation

We are thrilled to announce that Puma Property Finance has been certified as a B Corporation (or B Corp), joining the growing movement of companies that are reinventing business for the benefit of all people and our shared planet. 

Puma Property Finance becomes a Certified B Corporation

Puma Property Finance is proud to announce that in 2024, it provided loans for the development of over £150m of care homes in the UK. 

Puma funds over £150m of new UK care beds in 2024

James Ramsay, Head of Investment Product Management, discusses the benefits of investing in AIM VCTs in 2025, including growth potential, tax-free gains, and expert management.

The advantages of a new AIM VCT  

Discover how NRG Gyms, backed by a £4 million investment from Puma VCT 13 and Puma Alpha VCT, is revolutionising the UK fitness market with its high-value, low-price model and exceptional customer focus.

Interview with Shafiq Ahmed, Founder & CEO, NRG Gyms

The UN's International Women's Day theme for 2025 is "For ALL women and girls: Rights. Equality. Empowerment." Tarinee Pandey, Chief People Officer at Puma Investments reflects on empowering women in the workplace and collective effort.

If you’re not angry, then you’re not paying attention.

Tarinee Pandey reflects on the challenges and opportunities for women's rights, equality, and empowerment, emphasising workplace change and collective effort.

It’s good to talk - tackling the difficult conversations

Daniel Cane, Investment Director, discusses the rising interest in AIM VCTs, highlighting their tax benefits and the importance of expert management despite limited new shares.

The VCT-qualifying universe on AIM and the importance of experience and a disciplined process 

Stuart Rollason, Investment Director, provides an update on the AIM market. He discusses current growth prospects and potential rewards for AIM VCT investors. Read this article to discover why AIM is a leading small company stock market that supports growing SMEs, drives business development, and offers external finance.

The power and potential of AIM as a driver of CGT-free VCT growth 

Puma Impact Lending Framework registers £145m in loans across the UK in its first year, offering fee reductions and rewards based on delivery, with external verification.

Puma Impact Lending Framework registers £145m loans in its first year 

Puma Property Finance is pleased to announce that it has strengthened its senior legal team with the appointment of Dhwani Shah.

Puma Property Finance strengthens legal team with ‘Magic Circle’ hire

Supporting phase 1 of the retrofit development works of the Riverlabs life sciences campus in Ware, Hertfordshire

Puma Property Finance provides £46m loan for retrofit of the Riverlabs life science campus

Funding the development of a new 260-bed purpose-built student accommodation (PBSA) scheme in Newcastle.

Puma Property Finance has facilitated a £43 million loan to Vita Group

Market outlook from Dr Stuart Rollason, Investment Director, Puma AIM IHT portfolio

UK economy showed resilience in 2024 amid inflation and budget adjustments

Puma Property Finance has facilitated a £15 million loan facility for a low-carbon industrial development in North Yorkshire. 

Puma Property Finance facilitates £15m loan for low-carbon industrial development

Semeris provides what it calls ‘superhuman powers for legal docs’ by combining large language models with human expertise to analyse complex legal documents in the debt and structured finance markets.

Puma VCTs have led a $4.3 million investment into legal and financial technology specialist, Semeris

Puma VCT 13 and Puma Alpha VCT have invested £4 million investment into NRG Gyms (“NRG”), an award-winning, high-value, low-price gym group founded by Shafiq Ahmed.

Puma VCTs invest £4m into NRG Gyms to continue its rollout

The fundraise offers an opportunity for investors to gain exposure to a diversified portfolio of scale-up, high potential businesses with the aim of providing attractive but stable returns. 

Puma Alpha VCT launches £15m fundraise 

An article by Louise Peters, Senior Manager, Puma Property Finance

Purpose Built Student Accommodation: Still hot, or not?

Puma Growth Partners invests £4.75m in Bikmo to fuel European growth and strengthen partnerships. New leadership and strategic collaborations set the stage for significant expansion.

Puma Growth Partners invests a further £4.75m in specialist cycle insurer, Bikmo

Puma Property Finance has announced it is facilitating a £52 million loan facility for a Vita Group 267-bed purpose-built student accommodation (PBSA) scheme in Edinburgh city centre.

Puma Property Finance facilitates £52m loan to fund a new PBSA scheme in Edinburgh

Interview with Dave George, CEO and Founder, Bikmo

Protecting the world's riders

The 6 weeks I have spent on Puma Growth Partners' team have been incredibly rewarding and have offered me a comprehensive insight into the workings of early-stage growth investing. 

Ghalib Butt reflects on his internship at Puma

Puma Investments is pleased to announce that it has made two senior appointments to strengthen its AIM capabilities and Product.

Puma Investments continues growth with two senior appointments

Stepping from the world of academia into the corporate arena initially felt like a daunting leap. However, through Puma’s warm, collaborative and engaging atmosphere, I found myself energised and supported, ready to embrace the challenges and opportunities on offer.  

Niam Vaid reflects on his internship at Puma

Puma Private Equity has announced its expansion into Scotland and rebrand to Puma Growth Partners. The team in Scotland will be led by Investment Director, Ben Leslie who has relocated back to Scotland after spending six years helping to grow the Puma business in London.

Puma Private Equity expands into Scotland and rebrands to Puma Growth Partners

Puma Property Finance is pleased to announce that Rahul Malde has been promoted to Director. The promotion reflects Rahul’s continued contribution to Puma’s growth and success over recent years.

Puma Property Finance announces senior promotion – Rahul Malde

Puma Property Finance funds £17m for a 73-bed care home in Leicester, marking over £500m in new build care homes.

Puma Property Finance facilitates £17m loan to fund new care home in Thurnby, Leicester

Puma VCT 13 has launched a £50 million fundraise after a another successful year of investments.

Puma VCT 13 launches new £50m fundraise following year of strong deployment 

My 6 weeks at Puma Capital Group have been amazing. From day one, I was welcomed by everyone - whether it was people introducing themselves in the kitchen or Eliot Kaye, one of the Managing Directors of Puma Property Finance, taking me for a walk on my first day, the company’s superb culture was on full display.

10,000 Interns - Balerki Puplampu's experience at Puma

Puma Investments, the Investment Manager, has launched the Puma AIM VCT, the first new AIM VCT to be launched in the market for 17 years. 

Puma Investments launches Puma AIM VCT 

Upon the completion of my 6-week internship here at Puma Capital Group, I look back fondly on the experience and perspective I have gained, and a passion for an industry I had little to no knowledge of prior to my time at Puma Capital Group. 

10,000 Interns - Emmanuel Owusu's experience at Puma

Puma Property Finance has provided an £11 million follow-on loan to Glenmore Group to fund the development of a further 98 PBSA beds in Dundee. The development facility will support a phase two extension to the existing 152 bed scheme, funded by Puma in 2023, and will provide a much-needed supply of student beds in the city. 

Puma Property Finance provides £11m Dundee follow-on loan to deliver 98 PBSA beds

Puma Property Finance has announced that Tony Throp has been appointed as the business’s first Head of Healthcare. This new role reflects Puma’s longstanding and continued commitment to the healthcare sector, supporting the development of much needed high-quality care homes and associated social infrastructure across the UK. 

Puma Property Finance appoints new Head of Healthcare

Puma Property Finance has provided a facility of £18m to fund the development of a new care home in Ewell, Surrey. The loan, provided to Morrison Community Care Group (“MCCG”), will deliver an 81-bed scheme in the residential area.

Puma Property Finance signs £18m loan to fund Surrey based care home

Interview with Ben Jefferies, co-founder & CEO of Influencer

In 2017, ambitious entrepreneur Ben Jeffries teamed up with serial entrepreneur and YouTuber Caspar Lee, with the goal of empowering creators to lead a new type of media format that would elevate brands and enhance their influence on social platforms. The global influencer marketing market has more than tripled since 2019 and is estimated to reach a record $24 billion in 2024.

Building a global influencer marketing platform

Puma Property Finance announces it has provided a £21 million loan to a private investor, Greyarc Investments, to fund the acquisition of an 88,000 sq. ft. office building in Oxford Business Park. The space, known as ‘Building 2700’, is a prominent self-contained building, constructed in 2005 and set over ground and two upper floors with a striking full height atrium and over 300 car parking spaces.

Puma Property Finance backs life sciences sector with new £21 million Oxford acquisition loan 

Dr Stuart Rollason, Investment Director, Puma AIM IHT portfolio comments on the last reporting period and the outlook for this reporting season:

Favourable tailwinds anticipated ahead for the AIM market as headline inflation settles 

Puma Property Finance has today announced that Senior Manager, Sarah Milne has been appointed as the business’s first Head of Impact. This new role reflects Puma’s continued commitment to encouraging sustainability in the construction industry through its ongoing partnership with UCL’s Bartlett School of Sustainable Construction and recent launch of its Impact Lending Framework. 

Puma Property Finance appoints new Head of Impact

At Puma Capital Group, celebrating diversity across our business is really important to us. Our recent International Women’s Day event was a great opportunity to put a spotlight on how much has been done to ensure women are represented and how much still needs to be achieved. 

Driving the difficult conversations – International Women’s Day 2024

Puma Property Finance has reinforced its commitment to funding essential social infrastructure in underserved areas across the UK, with new development loan facilities to two of the UK’s leading care home developers taking the total value of care homes funded to over £500m.

Puma Property Finance has funded over £500m of new build care homes

Isabela Castro, Head of Legal at Puma Capital Group

Isabela Castro shares her experiences as a female leader within Puma Capital Group this International Women's Day

In Q4 2023, the Puma AIM IHT model portfolio increased by +9.98%, outperforming both the FTSE AIM All-Share Index, which increased by +5.11%, and the FTSE All-Share Index, which increased by +2.54%. Since inception in July 2014, the cumulative performance of the model portfolio has increased by +96.90%, outperforming both the FTSE AIM All-Share Index (-2.81%) and the FTSE All-Share Index (+17.55%). 

Puma Property Finance has announced the launch of its Impact Lending Framework (‘the Framework’). The Framework has been established to provide direct financial benefits to property developers across the UK who are implementing measures in their vision and designs that deliver meaningful and impactful change. 

Puma Property Finance launches Impact Lending Framework

Puma Private Equity has led a £10 million investment round into Transreport, the UK’s fastest-growing accessibility technology company.  The investment will support the growth of its popular Passenger Assistance technology app as it seeks to expand the reach of the system to more users and wider modes of transport and industries.

Puma Private Equity leads £10m funding round for Transreport, the UK’s fastest-growing accessibility technology company

Puma Investments has opened a new £15 million fundraise for Puma Alpha VCT, with an overallotment facility for a further £5 million. The fundraise offers an opportunity for investors to gain exposure to a diversified portfolio of scale-up, high potential businesses with the aim of providing attractive but stable returns.

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Big is not always better