We caught up with Dr Cliff Gross, CEO at Tekcapital (TEK), the UK intellectual property investment group focused on transforming university discoveries, and he talked us through the results for the six-month period ended 31 May 2021.

Financial highlights

• Net Assets increased 56% to US$51.1m (30 Nov 2020: US$32.7m)
• NAV per share US$0.39 (30 Nov 2020: US$0.35)
• Total Revenue of US$14.5m (H1 2020: US$2.9m)
• Net increase of US$13.8m in fair value of portfolio companies
• Revenue from services US$715,323 (H1 2020: $557,684)
• Profit before tax of US$13.0m (H1 2020: US$1.9m)
• Completed a placing of 38,000,000 new ordinary shares of 0.4 pence in the Company (“Ordinary Shares”) at a price of 10 pence each to raise US$5.3m before expenses on 18 March 2021
• Cash position US$2.5m as of 31 May 2021

"Our most important measure is NAV and our net assets value clicked over $50M for the first time" said Cliff. "They were up over 56% over the last reporting period. So that's something to write home about. And we are feeling quite bullish about the entire portfolio in the months to come - we think for good reason, and of course time will tell".