LONDON (Alliance News) - TMT Investments PLC Wednesday said its portfolio company Wrike, Inc. recently completed a new equity financing, with TMT now holding approximately 4.5% of the company.
TMT, which invests in internet-based companies, said the transaction increased its fair value investment in Wrike by USD990,000 on its value on June 30.
"We are delighted that Bain Capital Ventures has also identified Wrike's attractiveness and followed our initial investment of USD1 million in June 2012. We look forward to continued growth at Wrike," Executive Director Alexander Selegenev said in a statement.
Bain Capital Ventures led the new equity financing round. Wrike provides on-demand, online project management and collaboration software.
TMT shares were Wednesday quoted at USD1.68, down 2.6%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2013 Alliance News Limited. All Rights Reserved.
Tmt Investments (TMT)