Sure Ventures PLC Portfolio Update - VR Education Holdings & Buymie (8316N)
26 Maggio 2020 - 8:01AM
UK Regulatory
TIDMSURE
RNS Number : 8316N
Sure Ventures PLC
26 May 2020
Sure Ventures plc ('Sure Ventures' or 'the Company')
Portfolio Update -VR Education & Buymie
Sure Ventures plc, a London listed venture capital fund which
invests in early stage software companies in the rapidly growing
technology areas of Augmented Reality ('AR'), Virtual Reality
('VR'), Internet of Things ('IoT') and Artificial Intelligence (AI)
in Fintech. We are pleased to provide an update on its investment
portfolio.
-- VR Education Holdings - http://immersivevreducation.com/
On the 20(th) of May 2020 VR Education announced that HTC
Corporation ('HTC') has agreed to invest EUR3.0 million in the
Company (the 'Subscription') and that HTC and the Company are
entering into a strategic partnership for the distribution and
license of the Company's ENGAGE platform globally through HTC
enterprise sales channels.
This investment, which is subject to GM approval on the 11(th)
of June 2020, will give HTC a 20% stake in the enlarged share
capital of the company. This is a major milestone for the company
and has led to a significant interest in the share price of the
company, which closed at 14p as at 22/05/2020. VR Education ran the
2020 HTC VIVE Ecosystem Conference alongside HTC and hosted the
event on the Company's ENGAGE platform in March 2020.
We would like to congratulate Dave and Sandra Whelan for
securing a global partner to fast track the commercialisation of
the Engage platform.
-- Buymie
On the 28(th) of April 2020 we announced that an investment was
made by Sure Valley Ventures in home grocery delivery company
Buymie. It was announced on the 22(nd) of May 2020 that Buymie has
teamed-up with Co-op to offer same-day home grocery deliveries to
over 200,000 households across Bristol. The move is the first
partnership in the UK for Ireland based Buymie whose mobile app
allows customers to book personalised online home grocery
deliveries.
This is a major development for Buymie and another indication of
the pace of growth being experienced in the home delivery industry.
We would like to congratulate the founders and the team for their
success in signing such an agreement in the UK with such a
recognisable brand. This agreement validates the ability of Buymie
to "punch above its weight" and scale alongside leading industry
players.
SURE VALLEY VENTURES FUND
Sure Ventures has a 7m million commitment to Sure Valley
Ventures Fund ('Sure Valley') representing an interest of
approximately 25.9% (assuming no other funding commitments are
made) of the underlying portfolio companies detailed in the
announcement.
ENDS
For further information, please visit www.sureventuresplc.com or
contact:
Gareth Burchell Sure Ventures plc +44 (0) 20 7186 9918
Notes to Editors
Sure Ventures plc listed on the London Stock Exchange in January
2018 giving retail investors access to an asset class that is
usually dominated by private venture capital funds. Sure Ventures
is focusing on companies in the UK, Republic of Ireland and other
European countries, making seed and series A investments in
companies with first rate management teams, products which benefit
from market validation with target revenue run rates of at least
GBP400,000 over the next 12 months. Website:
https://www.sureventuresplc.com/
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END
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