NetScientific PLC - London-based deep tech and life sciences-focused venture capital investor - Says portfolio company Ventive, a London-based designer and manufacturer of heating and ventillation solutions, has successfuly closed a new investment of around GBP900,000. Funding included GBP316,000 from existing shareholders and the conversion of two existing convertible loans valued at about GBP600,000. Investment is part of Ventive's proposed GBP1 million to GBP1.5 million programme, with further investments expected by April 30. NetScientific now holds an 11% total equity stake in Ventive, with a post-investment fair value of GBP893,000 - up from GBP52,000 at December 31.
Executive Director Ed Hooper says: "This transaction again demonstrates the strength of our capital efficient investment model and the successful execution of our strategy to increase the net asset value and fair value of our business...this fundraising positions Ventive well for further growth and we look forward to continuing to work closely with Ventive in this rapidly growing high-impact market segment."
Current stock price: 54.00 pence, up 7.0% on Monday
12-month change: down 9.2%
By Emma Curzon, Alliance News reporter
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Netscientific (NSCI)