Venture investor says deep tech, life sciences and sustainability trends continue to drive opportunity
EMV Capital (AIM:EMVC, FRA:NTK1) has said it remains well-positioned to benefit from a recovery in capital markets, despite subdued exit conditions across the venture sector.
In a trading and portfolio update ahead of full-year results due in May, the company said structural tailwinds in healthcare, defence, and industrial supply chains continue to underpin growth opportunities.
EMV Capital added that while no major exits occurred in 2025, several portfolio companies are currently engaged in merger and acquisition discussions or exploring strategic partnerships, pointing to a return in corporate appetite for transactional activity.
The group said it remains focused on disciplined capital deployment and scaling its funds and venture-building platforms.
Assets under management grew to more than £100 million at year-end, up from £98.5 million in 2024.
Group revenue rose by 16% to approximately £2.8 million, driven by corporate finance fees, fundraising activity and recurring fund management income following the integration of Martlet Capital.
Core revenue, which excludes operating income from portfolio companies, increased to £3.2 million from £2.4 million, continuing to cover a significant share of the Group’s operating costs.
EMV supported fourteen portfolio companies through syndicated fundraisings worth £12 million, compared with £10.6 million across twelve companies the previous year.
Its venture-building strategy, which focuses on capital-efficient company creation, delivered £10.4 million in fair value gains over three years from £0.9 million invested, equivalent to a 12.9x return.
During the year, EMV acquired intellectual property and clinical assets from Destiny Pharma to form a new company, AMR Bio, focused on antimicrobial resistance.
The group also expanded its senior team, appointing Anesh Patel as chief financial officer and Stephen Crowe as portfolio CFO, and continued investment in its digital infrastructure and AI-led operational tools.
Cash at 31 December stood at £0.5 million, down from £1 million the previous year, with a further £0.3 million held in quoted securities.
Chief executive Ilian Iliev said EMV remains committed to scaling its platform through hands-on portfolio support and growth-focused capital deployment.