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Sure Ventures PLC on Friday said net asset value per share fell, but that it remains strong amid the wider market backdrop in the technology sector.
The London-based venture capital fund, which invests in early-stage software companies, said its net asset value per share in the third quarter to September 30 fell to 124.09 pence, from 125.75p on June 30. It said this fall represented costs and changes to the value of its listed holdings in Engage XR and Immotion PLC.
Shares in Sure Ventures closed up 0.5% to 105.00p in London on Friday.
It said the market backdrop, particularly in the technology sector, meant it was a tough year for Sure Ventures in 2022. Considering this, it claimed its NAV remained in robust shape despite a decline, stressing several of its investments were starting to attract interest from larger, ‘more acquisitive players in their relevant verticals’.
Sure Ventures said its deals pipeline remains robust despite the market conditions.
By Greg Rosenvinge, Alliance News reporter
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