Artomatix Escrow Monies

RNS Number : 5665H

Sure Ventures PLC

04 August 2021

 

Sure Ventures PLC

Artomatix Escrow Monies

Sure Ventures is a London listed venture capital fund which invests in early stage software companies in the rapidly growing technology areas of Augmented reality ('AR'), Virtual reality ('VR'), Internet of Things ('IoT') and Artificial Intelligence (AI). We are pleased to announce an update in relation to funds held in escrow arising from the sale of Artomatix.

Artomatix was a portfolio company of Sure Valley Ventures (ICAV) and was sold at a circa 5x valuation uplift in a 14-month investment period in December 2019. Sure Ventures PLC owns 25.93% of the fund and received 1.447m euros in December 2019 as an initial payment, but as is customary with a trade sale of this nature some cash was held in escrow until all terms of the transaction were met.

The board are pleased to announce that the final payment of 223,336.93 EUR has been paid and received. This is a welcomed cash injection and completes what was a very successful 14 month investment period.

Gareth Burchell

"The sale of Artomatix was our first cash realisation and was unexpected in such a short investment time horizon. It did highlight the pace at which technology companies can grow and we are pleased to receive the final escrow payment"

For further information, please visit www.sureventuresplc.com or contact:

Gareth Burchell	Sure Ventures plc	[phone]

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.  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.  Website: https://www.sureventuresplc.com/  

 

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