Increase of Subscription to Sure Valley Ventures

RNS Number : 7983K

Sure Ventures PLC

02 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 Fund 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 Fund 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".

SURE VALLEY VENTURES ('The fund')

The fund is a sub-fund of Sure Valley Ventures ICAV, 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/

ENDS

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

Gareth Burchell	Sure Ventures plc	[phone]
Melissa Hancock/ Gaby Jenner	St Brides Partners (Financial PR)	[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. 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. 

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

 

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