TIDMSURE
RNS Number : 1903O
Sure Ventures PLC
25 January 2019
Sure Ventures plc ('Sure Ventures' or 'the Company')
Portfolio Update
Sure Ventures plc, a London listed venture capital fund which
invests in early stage software companies in the rapidly growing
financial technology ('fintech'), augmented reality ('AR'), virtual
reality ('VR'), and Internet of Things ('IoT') sectors, is pleased
to provide an update on its investment portfolio.
SUIR VALLEY VENTURES
Sure Ventures made a 4.5 million commitment to Suir Valley
Ventures Fund ('Suir Valley') representing an interest in Suir
Valley of approximately 22.167% (assuming no other funding
commitments are made). This commitment was made at a price of
EUR1.00 per share; the last recorded Suir Valley dealing NAV as at
the 31(st) of December 2018 was E 0.9932
Suir Valley has several investments across the fintech, AR, VR
and IoT sectors:
-- VRE Education Holdings PLC
VR Education Holdings PLC listed on the Alternative Investment
Market in March. Its signature Titanic VR experience has now been
launched on all major VR platforms and its 'Berlin Blitz' VR
recreation of a British bombing raid in the Second World War
premiered at the Venice Film Festival to positive reviews. Its
founders, husband and wife team David and Sandra Whelan, were
recently nominated for EY Entrepreneur of the Year award. The focus
is now on continuing the commercialisation of "Engage" the
companies VR education platform that enables content to be shared
and taught via VR.
-- WarDucks - www.warducks.com
WarDucks, a Dublin based VR games studio which has created a
number of top-ranking VR games, recently launched its popular
Rollercoaster Legends II on PlayStation VR. WarDucks also launched
the alpha version of the AR powered mobile game called 'My Smooshy
Mushy' that's built around the characters of Smooshy Mushy, the hit
children's toy brand.
-- Wia - www.wia.io
Wia Studios is a new professional IoT engineering service which
assists companies in bringing IoT to their organisation. Wia
provides a six-week prototyping process, where Wia takes care of
idea exploration, definition, concept ideation, product build, user
experience and installation.
-- ProVision - www.provisioncameramatics.com
The IoT based fleet manage system continued to develop its
advanced technology and expand its client base of more than a
hundred fleets across the UK and Ireland. Its technology provides
remotely accessible IoT solutions to manage and reduce fleet risk,
enhance driver safety, increase fleet efficiencies and help
operators comply with growing governance and compliance
regulations. The technology combines high quality vehicle camera
and tracking technology linked to advanced cloud software.
ProVision's most advanced products can issue warnings such as
flagging driver fatigue, mobile phone use, collision dangers, lane
departure and driver distractions, ultimately improving road safety
and helping companies with compliance requirements.
-- NDRC Arc Labs - http://www.arclabs.ie/
Suir Valley secured a partnership deal with a leading EU
Accelerator, the Research and Development Centre at the Waterford
Institute of Technology, which is expected to provide first look
deal flow for Suir Valley. The accelerator is expected to produce
30 companies in Suir Valley's focus sectors over the next two years
and the fund will have the first refusal right to invest in any of
these companies.
-- Artomatix - https://artomatix.com/
Suir Valley led a EUR2.7 million investment round in Artomatix
which provides AI powered software that reduces the time needed to
create 3D art by as much as 80%, thereby significantly reducing
users' production costs. This technology could be game changing for
the industry - the computer graphics market is expected to reach
$US212 billion by the end of 2023. Artomatix will use the funds to
accelerate its market delivery worldwide.
-- Nova Leah
Nova Leah specialises in developing cybersecurity risk
management compliance solutions for the medical device domain. Its
first offering, SelectEvidence(R), improves the security of
connected medical devices and patient safety, and reduces both the
costs associated with new cybersecurity regulatory requirements and
the likelihood of product recalls and related lawsuits. It operates
in a rapidly growing sector, expected to be worth $11 billion by
2020, driven by security concerns and escalating regulations.
DIRECT INVESTMENTS
Investments made directly by Sure Ventures plc:
Immotion PLC ('Immotion'), a UK based company that creates its
own high-quality VR content and enhances the immersive experience
by coupling this content with motion simulation, is the only direct
investment made by Sure Ventures to date, with a GBP500,000
investment made in February 2018. As previously announced, Immotion
listed on the Alternative Investment Market in July 2018, at a
price that represented a notable uplift in the value of Sure
Venture's original investment. Immotion has made continued
progress, rolling out VR centres in Yorkshire, Manchester, Cardiff,
Newcastle, Derby and Uxbridge. It has also created new proprietary
content (such as Delta zero) and a branded roller coaster
experience for the Lego discovery centre in Manchester. They
company also announced concession deals with the Rank Group and a
Middle Eastern partner.
Sure Ventures Director, Gareth Burchell said, "We are pleased
with the additional portfolio inclusion of Nova Leah during the
investment period and with the progress being made by all of our
portfolio companies to date. Volatile and poor market conditions
have played a major part in the fall of our NAV calculation this
quarter, with the two listed entities suffering from illiquidity
and small scale selling. The deal flow the AIFM is seeing is still
robust and we are happy with the long term strategy of providing
investors value by investing in software companies in three high
growth areas".
ENDS
For further information, please visit www.sureventuresplc.com or
contact:
Gareth Burchell Sure Ventures plc +44 (0) 20 7186 9918
Isabel de Salis / Priit St Brides Partners (Financial
Piip PR) +44 (0) 20 7236 1177
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. The Company
aims to provide investors with a diversified exposure to three
rapidly-growing markets: augmented reality/virtual reality, fintech
and Internet of Things. 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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