Member Info for steph

I don't mind GROW holding some post IPO if using it's embedded knowledge it thinks it will continue to go up.

All indications we will meet or exceed analyst forecasts for 800 NAV/share on March 31.

That will cement a steady track record of 20% NAV/share growth per year over a 20 year period -5 of those post GROW float.

I actually think the 20% will get easier in the next few years rather than harder. GROW now are a middle player and can lead funding grounds, so can pick and choose timing and company more so than in the past. Also seems to be earning some fees in this respect as well. Also UK/EU sector booming for structural reasons so pool expanding fast and growing nicely. Like being all alone fishing in a stream full of jumping salmon.

I stand by my statement that given credible average 20%+ NAV/share growth year on year we should be trading at 70% to 100% above "current" NAV/share. In any case I consider 8.64 a great top up price at this point in time so close to year end results and I am now maxed out. Good luck all.

Works out to about a 6.6% increase in nav per share overall in just a half year from only one share in the core portfolio.

huge NAV increase from just one portfolio company since our September half yearly results.
Can't wait for your final results this year.

The Company's total investment to date has been £29.7 million and as of our interim results to 30 September 2020 our holding was valued at £80.9 million. As part of the IPO, the Company will be selling down part of its holding, resulting in proceeds of £78.3 million. The Company will continue to hold 7.9% in shares amounting to £85.5 million (subject to any exercise of the overallotment option during the period to admission) based on the Trustpilot share price on 23 March 2021. The Company's continued holding will be subject to a customary 180-day lock-up period from the date of admission in line with other institutional investors in Trustpilot.

and this side of year end results.

can't hide cash due to some covid excuse.

I've been topping up even on small dips like this morning. Really looking forward to year end results. I think they will exceed market expectations. An SP of 1000 by end of July starting to come into view.

All will help our portfolio valuations March 31, thus NAV/share and thus SP. Just looking sillier and sillier our NAV/share covid related downgrade last March 31. Was totally unnecessary and now gives us some hidden value.

Daniel Thomas in LondonMarch 16 2021
https://www.ft.com/content/d9442066-1bbe-4cb3-b668-af6a9958a324?segmentId=b0d7e653-3467-12ab-c0f0-77e4424cdb4c
The UK tech sector attracted record investment of close to $8bn in the first three months of 2021 as investors scrambled to seize stakes in the most promising start-ups in the country. Investments made in fast-growing companies such as Touchlight Genetics, Starling Bank and insurance provider Zego were more than twice the amount raised in the same quarter last year, according to Tech Nation, the government-backed entrepreneur network. Five companies have raced to a valuation of more than $1bn so far in 2021 — almost as many as in 2020 as a whole.This fundraising activity comes after a record-breaking 2020, according to the annual Tech Nation report into the health of the industry. Tech investment reached $15bn last year in the UK, pulling away from rival European tech hubs Germany and France despite challenges from the pandemic and Brexit.

I agree high volume at this level is most likely good news . As high sp on thin volume is less sustainable.

Anyhow I topped up on this mi or 3% dip . I’m not selling on the surges so adding net to my position.

-Mar-21 16:35:03 856.00 185,216 Sell* 2m UT

Still in top up mood on any dip not accompanied by news to justify

dip over and thus my topping up. Always hard to tell when to top up. Once a certain level is tested I assume we will get back to that level in a pretty short time frame with GROW due to good fundamentals and hidden value. Not quite shooting fish in a barrel but close enough for me. Thesis does not tell me how much of a % dip to wait for. I assume most will not exceed 5%.

I imagine we are pretty solid and will drift up towards results when we should get a good boost. In 2019 results were June 4th with an update May 22.

Interesting wide tech sector recovering from dip as well. Should help our nav valuations on March 31 2021.

taking a good profit against hopes of a windfall is a tough decision. They must have had some nervousness on SPRIPE.

I'm all in so I don't mind a bit of a conservative approach. You are right though they missed a big fish here. Hopefully they have many more growing in the pipeline.

Hopefully with more cash than it had Draper can exit later at IPO's rather than a funding round.

I would even support holding after and IPO some core portfolio if the team think there is solid 20% plus nav growth still probable from the IPO price forwards.

My top ups on the recent dip starting to look sensible when averaged out. I got a bunch between 8.00 and 8.20 but also a bunch around 8.50. I even have a few at 8.65. Probably an 8.25 average. Not bad but I did not get the bottom. Glad I topped up though. Nearly 100% GROW now.

10-Mar-21 14:28:29 752,147 Sell*
10-Mar-21 14:22:24 1,400,000 Sell
10-Mar-21 14:23:06 400,000 Sell
10-Mar-21 250,000 Sell*

BID 812.00p OFFER 872.00p

never seen something like that before. Wonder what it means> Maybe about to jump a bit.

https://draperesprit.com/news/global-digital-experience-leader-medallia-to-acquire-decibel

Looks like the "profit" will drop in this side of year end. As w13 estimates will be nice addition.

Our NAV/share (portfolio NAV plus cash realizations not yet reinvested) year to year increases (which pass as "earnings" within our trust structure) will surely take a nice jump on year end. With that jump I hope some future growth starts to get priced in as well and we don't just move up in lockstep with NAV/share.

Of course any short term predictions are a fools errand and in any day or week any stock (no matter how strong it's long term upwards or downwards path) will be a 50/50 bet up or down. The current SP of any stock would not be the SP otherwise.

Never-the-less just for fun I'll make a prediction for close on Friday the 12th of March.

I think we will be up. I say 8.50. I've been topping up on GROW and re-concentrating to near 100% GROW and will keep that high level of concentration at least until the year end results in July.

If we at GROW get a good lift up in July and some of the future growth starts to get priced in (and the rest of the tech market is still in the doldrums) I might diversify a modest amount. For now it is all in and I've buckled my seatbelt for a bit of unwelcome volatility over the next few weeks.

Biden's surprising win on the large stimulus has a push and pull on our SP. On one hand it is inflationary -which pushes interest rate expectations up and thus the global tech sector down. ON the other hand it needs to be funded by US debt which incentivizes low US central bank interest rates for longer and more money printing to inflate the debt away. I think the market last week gave too much weight to the former and not enough to the later. I still think we are in a long term low interest environment with a semi permanent inflationary impact on assets like shares and property. Just after the fiscal crash prices inflation went up to near 5% without central banks raising interest rates from historically low levels. They have even more incentive this time round to do the same as national debts are higher in all Counties (with the possible exception of Greece, Ireland and Iceland). Self interest will prevail over economic orthodoxy.

Thanks

All good. Every bit we know about of portfolio making well in excess of 20% nav / year upgrades . Should be a great year end.

Tracker fund fans 'unwittingly exposed' to a tech crash
https://www.telegraph.co.uk/investing/funds/tracker-fund-fans-unwittingly-exposed-tech-crash/?WT.mc_id=tmgliveapp_iosshare_AwydvT5CsZ6H

Thanks

I think the flows from fast growing publicly listed tech to bonds is nearly over. After all nobody is raising interest rates just a shift in expectations as to when.

Think the impact on GROW temporary and shallow and have been tipping up,

Grow is not on high growth multiples at all so less effected. Indeed we are now more or less spot on expected March 31 2021 nav per share so almost no future growth priced in. Silly but true.

Is decibel a recommendation ?

I’ve been topping up grow and am nearly out of any us tech

thanks I missed that in the Edison report. I assume "cash" is cash sales per share. Yes those are great ratios compared to sector norms.

I've topped up GROW quite substantially over the last 3 days. I've done that by selling down my remaining biotec trust, gb group, int cons air (BA), L&G ROBO Global, L&G battery Global, scot m in trust and RR.

With IAG I feel 2.40 is a good post covid recovery price given the 5/2 dilution that occurred so not much road left at 2.20. RR has room to run but can retrace on a change of mood.

Just rather have my money in private UK/EU tech rather than funds who are made up of publically traded tech as market sentiment is a fickle master and they could all drop suddenly if a change in mood. They might bounce back from this recent retrace was well but I think the smart money is in GROW and we might be less volatile in a real drop. Probably only a sprinkling of us retail investor now.

Hate dips and prefer this to go up a steady 0.1% every trading day rather than up and down but the downs are also top up opportunities. Once our SP is tested at a new high it will likely return to that level sooner rather than later.

https://www.investegate.co.uk/draper-esprit-vct-plc--devc-/gnw/offer-for-subscription-overallotment-facility/20210302070000H9636/
Tuesday 02 March, 2021
Draper Esprit VCT plc
Offer for Subscription Overallotment Facility

Draper Esprit VCT plc
LEI: 2138003I9Q1QPDSQ9Z97
2 March 2021
Offer for Subscription Overallotment Facility

On 16 February 2021, Draper Esprit VCT plc (the “Company”) published a prospectus in connection with an offer for subscription in respect of new ordinary shares (the “Offer"), seeking to raise up to £5 million with an option to extend it via an over-allotment facility of up to an additional £15 million.

The board of the Company is pleased to report that the Offer has already raised in excess of £4 million and announces that they have exercised the option to utilise the over-allotment facility and extend the capacity of the Offer to £20 million.

In respect of the 2020/21 tax year, the Offer will close at 10:00 a.m. on 1 April 2021 and, in respect of the 2021/22 Tax Year, it will close at 4:00 p.m. on 31 July 2021 (unless extended or fully subscribed earlier).