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Draper Esprit PLC (GROW)


Wednesday 21 April, 2021

Draper Esprit PLC

UiPath Inc, announces pricing of IPO

RNS Number : 1852W
Draper Esprit PLC
21 April 2021


Draper Esprit Plc

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


UiPath Inc, announces pricing of IPO


Draper Esprit (LSE: GROW, Euronext Growth: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, today notes that UiPath has announced the pricing in relation to its $29bn initial public offering. The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "PATH" on 21 April 2021, and the offering is expected to close on 23 April 2021, subject to customary closing conditions. 

The Company last provided an update on the gross fair valuation of its holding in UiPath on 2 February. Based on the IPO price, Draper Esprit's gross fair value (before carry deductions) is approximately £100 million (using a GBP/USD 1.3767 year-end 31 March 2021 exchange rate). This is an uplift of £63 million to the September 2020 fair value of £37 million.

As previously notified, the Company will release a trading update for the full year on Monday, 26 April 2021.






Draper Esprit plc

Martin Davis (Chief Executive Officer)

Ben Wilkinson (Chief Financial Officer)


+44 (0)20 7931 8800

Numis Securities

Nominated Adviser & Joint Broker

Simon Willis

Richard Thomas

Jamie Loughborough


+44 (0)20 7260 1000

Goodbody Stockbrokers

Euronext Growth Adviser & Joint Broker

Don Harrington

Charlotte Craigie

Linda Clarke


+44 (0) 20 3841 6202


Public relations

Elly Williamson

Donjeta Miftari

+44 (0)7970 246 725 /

+44 (0)7961 628 862


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

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 £500m+ capital into fast growing technology companies and

have realised over £300m. 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.


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