Netscientific PLC, the technology and life sciences investor, is rolling out what it describes as an evergreen strategy developed to maximise value.
Practically, this means generating returns through exits, "targeted growth of a curated portfolio" and "accelerating routes to exit".
"By scaling its capital efficient investment model, the group plans to move towards a more evergreen investment model, offering substantial returns from a maturing portfolio," Netscientific said in commentary accompanying its prelims.
"The company's goal over the next three years is to increase the net asset value and fair value of the business, advance cohort companies, secure third-party investment rounds, and expand its fund management practice."
CEO Dr Ilian Iliev described 2023 as another year of progress as assets under management grew to £74.0 million (2022: £68.9 million) and are now estimated to be over £100 million.
Total income more than doubled to £3.8 million (2022: £1.8 million), while the company narrowed its losses by 22% to £2.9 million in the 12 months ending December 31.
"2023 has been another year of progress, proactively funding, defending and developing the value of our portfolio whilst continuing to build a sustainable platform to realise our goal of becoming a leading VC investor in the deep tech and life sciences sectors in the UK and internationally," said Iliev.
"Our AUM [assets under management] passing an important £100 million milestone is testament to the groundwork of 2023, and we look forward to progressing towards the next milestone of £200 million AUM through driving the organic growth of our existing portfolio, now in excess of 70 companies, and other initiatives underway to expand our funds practice."