Trustpilot Group plc confirms intention to float

RNS Number : 4657R

Draper Esprit PLC

08 March 2021

 

Draper Esprit plc

("Draper Esprit", "the Group" or the "Company")

Trustpilot Group plc confirms intention to float

Draper Esprit (LSE: GROW, Euronext Growth: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, notes the announcement this morning from Trustpilot Group confirming its intention to undertake an initial public offering ("IPO").

Draper Esprit first invested in Trustpilot in 2013 and has since increased its holding through a combination of secondary acquisitions and participation in follow on rounds. The Company's total investment to date has been £29.7 million and as of our interim results to 30 September 2020 the holding was valued at £80.9 million.

Draper Esprit will update the market further at the conclusion of the IPO process.

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Enquiries

Draper Esprit plc Martin Davis (Chief Executive Officer) Ben Wilkinson (Chief Financial Officer)	[phone]
Numis Securities Nominated Adviser & Joint Broker Simon Willis Richard Thomas Jamie Loughborough	[phone]
Goodbody Stockbrokers Euronext Growth Adviser & Joint Broker Don Harrington Charlotte Craigie Dearbhla Gallagher	[phone]
Powerscourt Public relations Elly Williamson Donjeta Miftari	[phone] / [phone]

About Draper Esprit

Draper Esprit is one of the most active venture capital firms in Europe, investing in disruptive, high growth technology companies. We believe the best entrepreneurs in Europe are capable of building the global businesses of the future. We fuel their growth with long-term capital, access to international networks and decades of experience building businesses.

Currently, Draper Esprit is a shareholder in a diverse portfolio of 67 companies with 15 of those part of our core portfolio which accounts for over 60% of our holdings. Our core companies include Trustpilot, UiPath, Aircall, Graphcore and Revolut. We invest across four sectors: Consumer Technology, Enterprise Technology, Hardware and Deeptech, and Digital Health and Wellness, with highly experienced partners constantly looking for new opportunities in each. We look for high-growth companies with strong IP, powerful technology, and the management teams to deliver success. They operate in new markets, with serious potential for global expansion. We also look for businesses with the potential to generate strong margins to ensure rapid, sustainable growth in substantial addressable markets.

Draper Esprit provides an opportunity for public market investors to access these fast-growing tech businesses, without having to commit to long term investments with limited liquidity. Since IPO in June 2016, we have deployed circa £450m+ capital into fast growing technology companies and have realised over £210m. In October 2020 we raised gross proceeds of circa £110m to help us capitalise on a European VC market which is expanding rapidly but is still less than one quarter of the combined size of the US and European market by value. It will also allow us to capitalise on the transition to a digital future that has been given added impetus as a result of the recent pandemic.

For more information, go to https://draperesprit.com/

 

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