Sure Ventures PLC Increase of Subscription to Sure Valley Ventures

Data : 02/09/2019 @ 08:00
Fonte : UK Regulatory (RNS & others)
Titolo : Sure Ventures Plc (SURE)
Quotazione : 102.5  0.0 (0.00%) @ 01:00
Quotazione Sure Ventures Grafico

Sure Ventures PLC Increase of Subscription to Sure Valley Ventures

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RNS Number : 7983K

Sure Ventures PLC

02 September 2019

SURE VENTURES PLC / ISIN: GB00BYWYZ460 / Ticker: SURE / Market: SFS / Sector: Investment

2 September 2019

Sure Ventures plc ('Sure Ventures' or 'the Company')

Increase of Subscription to Sure Valley Ventures Fund of 2.5 million euros

Sure Ventures plc, a London listed venture capital fund which invests in early stage software companies in the rapidly growing technology sectors of augmented reality ('AR'), virtual reality ('VR'), Internet of Things ('IoT') and Artificial Intelligence (AI) in Fintech, is pleased to announce that it has increased its subscription in Sure Valley Ventures Fund by a further 2.5 million euros. This subscription takes Sure Ventures overall commitment in Sure Valley Ventures to 7 million euros.

Perry Wilson, Chairman of Sure Ventures, commented, "The board of Sure Ventures has been very impressed with the composition of the portfolio that has been created to date by Sure Valley Ventures. With a number of investee companies now approaching the next round of funding, we are very encouraged by the performance of the underlying software businesses and as such are happy to show our commitment to Sure Valley Ventures' strategy by increasing our percentage holdings".

SURE VALLEY VENTURES ('The fund')

The fund is a sub-fund of Sure Valley Ventures ICAV, an Irish regulated ICAV that undertook a fundraising round with a closing date of 31 August 2019. In consideration of the traction, performance and makeup of the portfolio established in some of the new frontiers of software technology, the board of Sure Ventures PLC decided not just to maintain its percentage holding in Sure Valley Ventures, but to increase its stake in the fund from 21.6% to 25.9% by committing a further 2.5m euros.

The commitment will require an upfront commitment of EU848,784. This investment has been satisfied from the Company's current cash position. The Company has, through this investment, increased its exposure to the companies within the fund's portfolio including:

 
    Company                        Description 
     Admix           Fully programmatic monetization platform 
                      for 3D spacial developers (e.g. console, 
                           PC and mobile game developers) 
                                 https://admix.in/ 
                ------------------------------------------------- 
   Ambisense      AI and IoT platform for real-time environmental 
                     monitoring and protection (e.g. Greenhouse 
                             Gas) through AI prediction 
                               https://ambisense.net/ 
                ------------------------------------------------- 
   Artomatix           AI platform that automates 3D content 
                      creation for AR/VR, video games, movies 
                      and VFX, cutting the costs of production 
                          for key processes by up to 80%. 
                               https://artomatix.com/ 
                ------------------------------------------------- 
   ProVision        Provider of IoT cameramatics for commercial 
                                       fleets 
                       https://www.provisioncameramatics.com/ 
                ------------------------------------------------- 
      NDRC            EU accelerator providing propriety deal 
                                        flow 
                                https://www.ndrc.ie/ 
                ------------------------------------------------- 
   Nova Leah         Cyber security assessment and protection 
                          platform for IoT medical devices 
                             https://www.novaleah.com/ 
                ------------------------------------------------- 
    Vivid Q         Software platform for real-time holographic 
                                 3D display for AR 
                              https://www.vivid-q.com/ 
                ------------------------------------------------- 
  VR Education         A virtual reality education platform 
                         https://immersivevreducation.com/ 
                ------------------------------------------------- 
      Wia         IoT developer platform with 55,000+ developers 
                                https://www.wia.io/ 
                ------------------------------------------------- 
   War Ducks         AR games studio with multiple hit titles 
                             https://www.warducks.com/ 
                ------------------------------------------------- 
 

ENDS

For further information, please visit www.sureventuresplc.com or contact:

 
 Gareth Burchell          Sure Ventures plc                +44 (0) 20 7186 9951 
 Melissa Hancock/ Gaby    St Brides Partners (Financial 
  Jenner                   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, Artificial Intelligence 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/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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