RiverFort Global Opportunities PLC (LON:RGO) has said it is well placed to deploy its “substantial” cash balance and grow its portfolio following a strong jump in its net asset value (NAV) in 2018.
The investment firm, which focuses on growth companies in the technology, natural resources, energy, financial and healthcare industry sectors, said in an outlook statement that it had the potential to grow its investment portfolio “significantly” going forward by “rapidly by making investments that can generate income and capital growth whilst offering downside protection”.
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The group has raised over £6mln in new equity which it intends to deploy into new investment opportunities.
Philip Haydn-Slater, RiverFort’s chairman, added that, to date, it had invested around £5.5mln and that there continued to be “strong demand” for funding from junior-listed firms offering attractive returns.
For the year ended 31 December 2018, the company reported its NAV at year-end was around £7.2mln, up from £2.4mln in 2017, while its losses from continuing operations had narrowed to £731,192 from £1.1mln.
In late-morning trading on Friday, RiverFort’s shares were steady at 0.09p.