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Albion Technology & General VCT PLC on Tuesday reported a dip in net asset value during the first half of 2025, as portfolio write-downs outweighed gains, though the venture capital trust said it continues to maintain a diversified portfolio of growth-focused businesses. The London-based investor, which is focused on longer term capital growth, said NAV per share fell to 70.70 pence at June 30 from 73.04p at December 31, 2024. It compared with 75.09p a year before. The total loss for the six months was £2.1 million, versus a £9.2 million gain a year prior. Albion declared an interim dividend of 1.83p per share, slightly up from 1.80p a year earlier. A second dividend of 1.77p will be paid on October 31 to shareholders on the register on October 3, taking the total payout for 2025 to 3.60p, equal to a 4.9% yield on the opening NAV. Portfolio revaluations were mixed, with upward movements led by Oviva, Convertr Media and Elliptic Enterprises. However, these were offset by write-downs in companies including Proveca, CS Genetics and Radnor House School. Chair Clive Richardson said: ‘Despite the small reported loss for the period, the company continues to maintain a well diversified portfolio of growth-focused companies. Many of these businesses have demonstrated resilience in challenging conditions, and we remain confident in the long term potential of the portfolio.’ During the half-year, Albion deployed £14.1 million into investments, including £6.9 million in 10 new portfolio companies such as AI engine Latent Technology Group and healthcare platform Evaro. Follow-on funding of £7.2 million was provided to existing holdings including Mondra Global and Gravitee. Albion said its top three portfolio firms - Quantexa, Proveca and Oviva - accounted for 30% of NAV at the end of June. Looking ahead, Richardson said the trust continues to see attractive opportunities in early-stage growth businesses aligned with technology and healthcare trends, while maintaining discipline amid macroeconomic uncertainty. Shares in Albion Technology were down 1.5 at 67.50 pence at midday on Tuesday in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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