NEWS & MEDIA
Increase of Subscription to Sure Valley Ventures (ICAV) of 2.5 million euros2 September 2019
SURE VENTURES PLC / ISIN: GB00BYWYZ460 / Ticker: SURE / Market: SFS / Sector: Investment
2 September 2019
Sure Ventures plc (‘Sure Ventures’ or ‘the Company’)
Increase of Subscription to Sure Valley Ventures (ICAV) of 2.5 million euros
Sure Ventures plc, a London listed venture capital fund which invests in early stage software companies in the rapidly growing technology sectors of augmented reality (‘AR’), virtual reality (‘VR’), Internet of Things (‘IoT’) and Artificial Intelligence (AI) in Fintech, is pleased to announce that it has increased its subscription in Sure Valley Ventures (ICAV) by a further 2.5 million euros. This subscription takes Sure Ventures overall commitment in Sure Valley Ventures to 7 million euros.
Perry Wilson, Chairman of Sure Ventures, commented, “The board of Sure Ventures has been very impressed with the composition of the portfolio that has been created to date by Sure Valley Ventures. With a number of investee companies now approaching the next round of funding, we are very encouraged by the performance of the underlying software businesses and as such are happy to show our commitment to Sure Valley Ventures’ strategy by increasing our percentage holdings”.
SUIR VALLEY VENTURES (‘The fund’)
The fund is an Irish regulated ICAV that undertook a fundraising round with a closing date of 31 August 2019. In consideration of the traction, performance and makeup of the portfolio established in some of the new frontiers of software technology, the board of Sure Ventures PLC decided not just to maintain its percentage holding in Sure Valley Ventures, but to increase its stake in the fund from 21.6% to 25.9% by committing a further 2.5m euros.
The commitment will require an upfront commitment of EU848,784. This investment has been satisfied from the Company’s current cash position. The Company has, through this investment, increased its exposure to the companies within the fund’s portfolio including:
|Company ||Description |
|Admix||Fully programmatic monetization platform for 3D spacial developers (e.g. console, PC and mobile game developers) https://admix.in/|
|Ambisense||AI and IoT platform for real-time environmental monitoring and protection (e.g. Greenhouse Gas) through AI prediction https://ambisense.net/|
|Artomatix||AI platform that automates 3D content creation for AR/VR, video games, movies and VFX, cutting the costs of production for key processes by up to 80%. https://artomatix.com/|
|ProVision||Provider of IoT cameramatics for commercial fleets https://www.provisioncameramatics.com/|
|NDRC||EU accelerator providing propriety deal flow https://www.ndrc.ie/|
|Nova Leah||Cyber security assessment and protection platform for IoT medical devices https://www.novaleah.com/|
|Vivid Q||Software platform for real-time holographic 3D display for AR https://www.vivid-q.com/|
|VR Education||A virtual reality education platform https://immersivevreducation.com/|
|Wia||IoT developer platform with 55,000+ developers https://www.wia.io/|
|War Ducks||AR games studio with multiple hit titles https://www.warducks.com/|
For further information, please visit www.sureventuresplc.com or contact:
|Gareth Burchell||Sure Ventures plc||+44 (0) 20 7186 9951|
| Melissa Hancock/ |
|St Brides Partners (Financial PR)||+44 (0) 20 7236 1177|
Notes to Editors
Sure Ventures plc listed on the London Stock Exchange in January 2018 giving retail investors access to an asset class that is usually dominated by private venture capital funds. The Company aims to provide investors with a diversified exposure to three rapidly-growing markets: augmented reality/virtual reality, Artificial Intelligence and Internet of Things. Sure Ventures is focusing on companies in the UK, Republic of Ireland and other European countries, making seed and series A investments in companies with first rate management teams, products which benefit from market validation with target revenue run rates of at least £400,000 over the next 12 months.