9 January
2025
Mindflair
plc
("Mindflair"
or the "Company")
Infinite Reality raises US$3 billion on a US$12 billion
valuation
Mindflair plc (AIM: MFAI), the
company investing in next generation technology focused on AI, is
pleased to note the
public announcement by Infinite Reality ("iR") on 8 January 2025. Key information in this announcement
includes:
·
iR has raised additional equity of US$3 billion in
cash, increasing iR's indicative valuation to US$12.25
billion.
·
Execution of a 5 year deal with Google
Cloud.
·
Launch of FIM SGP-Verse in collaboration with
Warner Bros Discovery Sports.
The first Sure Valley Ventures fund
("SVV1") has an equity shareholding in iR as a result
of
iR's acquisition of SVV1's portfolio company
Landvault in July
2024, in a US$450 million all-share transaction.
At the time of the acquisition, SVV1 had a 7% shareholding in
Landvault. iR's publicly declared valuation at that time, following
a US$350 million fund raising, was US$5.1
billion.
Mindflair holds a 13% direct
interest in SVV1 and a 6.1% indirect interest via its holding in
Sure Ventures plc who in turn has a 25.9% holding in
SVV1.
SVV1 is a venture capital fund,
investing in a range of software companies with a focus on
companies in AI and machine learning, Immersive Tech, Metaverse and
Cybersecurity sectors. SVV1 is one of a number of funds managed by
Sure Valley Ventures whose sovereign-backed investors include the
British Business Bank and Enterprise Ireland.
Nicholas Lee, Director of Mindflair,
commented:
"We are pleased to see the
increasing valuation of iR driven by a further significant cash
investment being made into that business. This clearly bodes well
for the future realisation of our investment."
The Directors of the Company are
responsible for the release of this announcement. The person who
arranged for the release of this information is Nicholas Lee, a
director of the Company.
Enquiries:
|
Mindflair plc
Nicholas Lee, Director
|
Tel: +44 (0) 20 3368 8961
|
|
Nominated Adviser
Cairn Financial Advisers
LLP
Liam Murray
Ludovico Lazzaretti
|
Tel: +44 (0) 20 7213 0880
|
|
Joint broker
Peterhouse Capital Limited
Duncan Vasey/Lucy Williams
|
Tel: +44 (0) 20 7469 0935
Tel: +44 (0) 20 7469 0936
|
|
Joint broker
Shard Capital Partners LLP
Damon Heath
|
Tel: +44 (0) 20 7601 6100
|
Notes to Editors
About Mindflair plc
Mindflair plc (AIM: MFAI) is an
investment company providing investors with access to a portfolio
of next generation technology businesses focused on AI with
significant growth potential.
The Company is building an
investment portfolio of high-tech businesses across areas such as
Artificial Intelligence, Internet of Things, Cyber Security,
Machine Learning, Immersive Technologies and Big Data, which the
Board believes demonstrate evidence of traction and the potential
for exponential growth, due to increasing global demand for
development in these sectors.
For further information, visit
is http://www.mindflair.tech/.
Caution regarding forward looking statements
Certain statements in this
announcement, are, or may be deemed to be, forward looking
statements. Forward looking statements are identified by their use
of terms and phrases such as ''believe'', ''could'', "should"
''envisage'', ''estimate'', ''intend'', ''may'', ''plan'',
''potentially'', "expect", ''will'' or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward-looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements reflect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.