LONDON (Alliance News) - Draper Esprit PLC on Monday said it expects to achieve its net asset value growth expectations for its financial year and has received GBP13 million from realisations during the period.
The venture capital firm, which invests in digital technology businesses, said it is "on track" to meet its expectations for growth in its year to March 31.
Since its interim results in November, so far the company has received GBP13 million from realisations including escrow balances.
In particular, the company recently sold its holding in UK snack brand Graze as part of Graze's acquisition by Unilever PLC in February. This generated a 19% initial rate of return, Draper Esprit having invested GBP3.7 million in Graze.
Draper Esprit also exited its small stake in Crowdpress Ltd.
Most recently, Draper Esprit led a GBP7 million funding round in cloud technology company Hadean; invested GBP4.3 million in mobile banking company N26; and invested GBP3 million in media platform Onefootball via the Earlybird Digital West partnership.
Other investments include a contribution to a USD55 million funding round in consumer review firm Trustpilot.
"We've had another busy period, as we continue to deliver on our mission - namely to provide support and deep, long-term capital to the most exciting tech companies in Europe, that we believe have the potential to become global leaders; thus providing access to the investment returns from these high-growth, private tech companies to public investors," said Draper Espirt Chief Executive Simon Cook.
Shares in Draper Esprit were up 0.9% at 549.70 pence on Monday.
Molten Ventures (GROW)