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13 Dec 2019 15:51
13 December 2019
Triple Point VCT 2011 plc
(the "Company")
INVESTMENT UPDATE
The Board of Triple Point VCT 2011 announces that the Venture Share class (known as The Venture Fund) has completed its first exit from an investment.
Adepto, a company that supplies a leading 'total talent' platform that businesses use to manage their internal and external workforces, has been acquired by San Francisco-based Degreed Inc. Degreed operates a workforce skill-building software platform and is purchasing Adepto for a mixed consideration of its own shares and cash. Further details of the transaction have not been made public but there is unlikely to be any material impact on the Company's net asset value in the immediate term.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Triple Point Investment Management LLP (Investment Manager) | Tel: 020 7201 8989 |
Belinda Thomas Harry Penberthy Ian McLennan Sebastian Wallace | |
The Company's LEI is 213800AOOAQA5XQDEA89
Further information on the Company can be found on its website https://www.triplepoint.co.uk/investments/triple-point-venture-fund/s7881/.
NOTES:
The Company is a Venture Capital Trust incorporated in July 2010. The Investment Manager is Triple Point Investment Management LLP. The Company was established to fund small and medium sized enterprises (SMEs). The Company launched a new share class, known as The Venture Fund, in March 2019 which is mandated to invest in SMEs producing products or digital services that solve challenges faced by their larger corporate customers.
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