EMV Capital Plc (AIM:EMVC), the tech and life sciences venture capital group formerly known as NetScientific, passed a significant milestone in the first half as assets under management exceeded £100 million.
The exact figure, £106.7 million, was up sharply from the £61.6 million posted this time last year.
Within that overall number, there was a 12% increase in the fair value of its direct holdings, for third-party assets growth was a stellar 71%, while there was an addition of £24.1 million from the Martlet Capital portfolio as well as a £3.2 million increase in the managed portfolio.
EMV's portfolio now spans an impressive 70 companies.
CEO, Dr Ilian Iliev, said despite "challenging" market conditions, the company has protected shareholder value and bolstered its portfolio through £6.4m in syndicated fundraising, "proactive management, and our hands-on value creation services".
He added: "The group is now squarely focused on the next three years of its strategic roadmap, positioning EMV Capital (AIM:EMVC) as a leading VC in the deeptech and life sciences sectors. We aim to drive shareholder value by investing in companies with transformative technologies both in the UK and internationally."
For the six months ended June 30, EMV posted a loss of £1.8 million, marginally ahead of the same period last year. At the period-end, cash stood at £300,000.