B Share Portfolio Update
21
B Share Pool Investment Activity since
Since the
- Arecor Therapeutics Plc (“Arecor”) - £0.2m follow-on investment made in
August 2022 following our initial £0.4m investment at IPO. Arecor is developing a portfolio of proprietary products in diabetes and other indications with its innovative proprietary formulation technology platform, Arestat™, and working with leading pharmaceutical and biotechnology companies to deliver enhanced reformulations of their therapies. Alderley Lighthouse Labs Ltd (“ALL”) - £0.5m invested inOctober 2022 . ALL is a full service diagnostic facility inAlderley Park , with an initial focus on blood science and molecular diagnostics with capabilities to expand into histology and oncology.- Oxford BioDynamics Plc (“OBD”) - £0.7m invested in
October 2022 . OBD is a global biotechnology company, advancing personalized healthcare by developing and commercializing precision medicine tests for life-changing diseases. - Bidstack Group Plc (“Bidstack”) - £1.1m invested in
October 2022 . Bidstack is an advertising technology company which provides dynamic, targeted and automated native in-game advertising for the global video games industry across multiple platforms. - Northcoders Group plc (“Northcoders”) - £0.3m invested in
November 2022 . Northcoders is a market leading provider of coding and software development training for businesses and individuals. - Geomiq Limited (“Geomiq”) - £0.3m invested in
December 2022 . Geomiq is a supply chain platform solution that allows engineers and procurement teams to shorten product development cycles and get products to market faster by leveraging technology and a machine-learning-powered matching system to connect buyers and sellers of custom manufactured parts. Convenient Collect Limited (“HubBox”) - £0.7m invested inDecember 2022 . HubBox provides software for retailers to easily offer local pickup options at checkout for customers who want alternatives to home delivery. This software facilitates the offer of integrated flexible delivery options, including consolidation of multiple deliveries into single location/pick up points, helping to solve the ‘last mile problem’ for delivery providers, retailers and customers.
The B share pool remains well placed to make new investments and support existing B share portfolio companies with c.£5m in cash following the investment in HubBox and with a continuing fundraise under the current Offer.
B Share Pool Exits Update
The Company continues to harvest profits where possible for investors, and has made three full and partial exits to date in 2022, taking the total number of full and partial exits since 2019 to eight. The total weighted average return for exits achieved to date is 1.8x return. However, neither the exits achieved nor the valuations of the B share portfolio since
B Share Pool Dividends Update
The Company also continues to maintain its
The Company looks forward to providing a further update in Q1 2023.
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