Portfolio Update

Octopus AIM VCT 2 plc

19 August 2020

Portfolio Update

The investment portfolio of Octopus AIM VCT plc (the "Company") as at 19 August 2020 is as follows (the valuations being the unaudited valuations, at bid price, as at 31 July 2020):

Investee Company	Sector	Book cost (£000)	Movement in valuation (£000)	Fair Value (£000)
GB Group plc	Software and Computer Services	425	4,199	4,624
Learning Technologies Group plc	Software and Computer Services	701	3,409	4,110
Breedon Group plc	Construction and Materials	573	3,055	3,628
Ergomed plc	Pharmaceuticals and Biotechnology	960	2,308	3,268
Craneware plc	Health Care Providers	479	1,990	2,469
EKF Diagnostics Holdings plc	Medical Equipment and Services	864	1,261	2,125
IDOX plc	Software and Computer Services	356	1,461	1,817
Ixico plc	Pharmaceuticals and Biotechnology	697	996	1,693
Judges Scientific plc	Electronic and Electrical Equipment	209	1,437	1,646
Trackwise Designs plc	Technology Hardware and Equipment	1,605	(41)	1,564
Creo Medical Group plc	Medical Equipment and Services	981	526	1,507
Diaceutics plc	Health Care Providers	620	848	1,468
Animalcare Group plc	Pharmaceuticals and Biotechnology	824	576	1,400
Intelligent Ultrasound Group plc	Medical Equipment and Services	1,279	78	1,357
Gear4music Holdings plc	Leisure Goods	372	938	1,310
Brooks Macdonald Group plc	Investment Banking and Brokerage Services	610	640	1,250
Popsa Holdings Ltd*	Software and Computer Services	640	531	1,171
Hasgrove plc*	Media	153	996	1,149
Renalytix AI plc	Medical Equipment and Services	246	891	1,137
Sosandar plc	Retailers	1,235	(149)	1,086
PCI-Pal plc	Software and Computer Services	944	101	1,045
RWS Holdings plc	Industrial Support Services	99	917	1,016
Gamma Communications plc	Telecommunications Service Providers	244	760	1,004
Quixant plc	Technology Hardware and Equipment	391	543	934
llika plc	Energy	542	325	867
Access Intelligence plc	Software and Computer Services	589	263	852
VR Education Holdings plc	Software and Computer Services	653	196	849
Adept Technology Group plc	Telecommunications Service Providers	502	344	846
Maxcyte Inc	Pharmaceuticals and Biotechnology	689	114	803
Scientific Digital Imaging plc	Medical Equipment and Services	119	684	803
The Panoply Holdings plc	Software and Computer Services	653	141	794
Synairgen plc	Pharmaceuticals and Biotechnology	135	637	772
Netcall plc	Software and Computer Services	356	400	756
Cello Health plc	Health Care Providers	205	511	716
Gooch & Housego plc	Technology Hardware and Equipment	281	419	700
C4X Discovery Holdings plc	Pharmaceuticals and Biotechnology	600	100	700
Next Fifteen Communications Group plc	Media	344	260	604
Beeks Financial Cloud Group plc	Software and Computer Services	302	302	604
Advanced Medical Solutions Group plc	Medical Equipment and Services	495	93	588
Fusion Antibodies plc	Health Care Providers	497	67	564
Clinigen Group plc	Pharmaceuticals and Biotechnology	469	79	548
Restore plc	Industrial Support Services	171	288	459
LoopUp Group plc	Software and Computer Services	197	237	434
British Honey Company plc	Retailers	400	18	418
Vertu Motors plc	Retailers	777	(361)	416
Osirium Technologies plc (Loan Notes)	Software and Computer Services	400	0	400
Vectura Group plc	Software and Computer Services	332	35	367
Mattioli Woods plc	Investment Banking and Brokerage Services	101	230	331
Equals Group plc	Industrial Support Services	632	(321)	311
Rosslyn Data Technologies plc	Software and Computer Services	286	0	286
WANdisco plc	Software and Computer Services	96	188	284
Cloudcall Group plc	Software and Computer Services	380	(103)	277
TP Group plc	Aerospace and Defense	452	(194)	258
Feedback plc	Electronic and Electrical Equipment	200	50	250
Genedrive Plc	Pharmaceuticals and Biotechnology	241	(18)	223
DP Poland plc	Travel and Leisure	678	(457)	221
Cambridge Cognition Holdings plc	Health Care Providers	400	(200)	200
Falanx Group Limited	Industrial Support Services	600	(400)	200
MyCelx Technologies Corporation	Oil, Gas and Coal	980	(801)	179
Maestrano Group plc	Software and Computer Services	424	(254)	170
airNow plc*	Software and Computer Services	837	(672)	165
DXS International plc	Software and Computer Services	200	(50)	150
KRM22 plc	Closed End Investments	454	(322)	132
Velocity Composites plc	Aerospace and Defense	532	(421)	111
Osirium Technologies plc	Software and Computer Services	900	(795)	105
Microsaic Systems plc	Electronic and Electrical Equipment	922	(819)	103
Enteq Upstream plc	Oil, Gas and Coal	687	(608)	79
Fusionex International plc*	Software and Computer Services	188	(109)	79
ReNeuron Group plc	Pharmaceuticals and Biotechnology	216	(166)	50
Escape Hunt plc	Travel and Leisure	659	(625)	34
Tasty plc	Travel and Leisure	336	(309)	27
Mears Group plc	Industrial Support Services	51	(26)	25
Rated People Ltd*	Software and Computer Services	236	(213)	23
Diurnal Group plc	Pharmaceuticals and Biotechnology	88	(67)	21
1Spatial plc	Software and Computer Services	200	(185)	15
Haydale Graphene Industries plc	Industrial Materials	399	(390)	9
Midatech Pharma plc	Pharmaceuticals and Biotechnology	400	(398)	2
Bond International Software plc	Software and Computer Services	1	1	2
Location Sciences Group plc	Software and Computer Services	509	(508)	1

Since 31 July 2020 there have been no new investments

Since 31 July 2020 there have been 6 disposals with a value of £1,478,137

Unless otherwise stated, all the investments set out above:

- are quoted on AIM or on the London Stock Exchange Full List
- represent equity investments except in the case of Osirium which include investment via loan stock: and
- are in portfolio companies incorporated in the UK with the exception of:

Mycelx – USA
VR Education Holdings plc – Ireland
Maxcyte Inc – USA
Breedon Group – Jersey
Fusionex International – Jersey
Falanx Group Limited – Birtish Virgin Islands

*Denotes unlisted company

Current Asset Investments

Investee Company	Sector	Book cost (£000)	Movement in valuation (£000)	Fair Value (£000)
Money Market Funds	n/a	3,486	0	3,486
Octopus UK Micro Cap Growth Fund	n/a	2,320	821	3,141
Octopus Portfolio Manager - Conservative Capital Growth	n/a	1,551	121	1,672
Octopus Portfolio Manager - Defensive Capital Growth	n/a	1,431	92	1,523
Octopus UK Multi Cap Income Fund	n/a	1,246	35	1,281

Since 31 July 2020 there have been no new investments or disposals of current asset investments.
For further information, please contact:

Graham Venables
Octopus Company Secretarial Services Limited

Tel:  [phone]