Venture capital fund investing in early stage companies
Targets the AR, VR, IoT and AI sectors
Shares trade at premium to NAV reflecting “growth potential”
What it is
Sure Ventures PLC (LON:SURE) is a venture capital fund which invests in early-stage companies operating in the fields of augmented reality (AR), virtual reality (VR), the Internet of Things (IoT) and artificial intelligence (AI) in financial technology.
Most of the company’s investments are held through the Sure Valley Ventures Fund in which it committed €4.5mln, equivalent to a 22.17% stake.
What it owns
Sure Ventures’ portfolio, including stakes held through Sure Valley, includes;
- VR education Holdings PLC (LON:VRE) – A VR software and immersive experiences developer which develops the ENGAGE learning platform as well as several immersive VR learning experiences in Apollo 11 VR
- WarDucks – A developer of VR and AR video games. WarDucks has already released six bestselling titles across multiple platforms including Sony’s PlayStation VR
- Wia – IoT cloud platform designed to link sensors and other devices together
- ProVision – Develops products that allow commercial fleet managers to improve safety and compliance
- NDRC Arc Labs – NDRC is an accelerator designed to source and develop 30 start-up firms over two years in the AR, VR, IoT and AI field
- Artomatix – Develops a patent-pending AI software that cuts the cost of content creation for animated movies, video games and AR/VR applications by over 85% through automation
- Nova Leah – A cybersecurity firm that protects connected medical devices and helps manufacturers address issues with their devices
- Admix – Creator of a supply-side platform which allows developers to monetise their content by creating, managing and selling advertising inventory
- VividQ – Develops 3D holography for next-generation VR and AR headsets and smart glasses
- Ambisense – Operates Ambilytics, a platform which optimises environmental risk assessments on infrastructure projects in the industrial, oil & gas and waste management sectors
- Immotion Group PLC (LON:IMMO) – Creates its own VR content and immersive experiences using simulation pods
- In a portfolio update on 31 July, the company reported a net asset value (NAV) of 90.3p per share as of 30 June, up 9% from the 83.03p at the end of March
- At the time, the company’s shares were at 102.5p, a premium it said supported the “growth potential” of its investments
- On 3 May, Sure announced that it had added stakes in VividQ and Admix, adding that WarDucks had raised €3.3mln over the previous three months representing a four-fold value uplift
CIO Interview – Barry Downes
In its July update, chairman Perry Wilson said the board was “confident of the long-term prospects for the company in pursuit of its investment objective and believes that the robust deal pipeline will result in additional transactions that will complement the company's existing investments”.
With the shares trading at 102.5p as of 19 August 2019, Sure Ventures carries a market cap of £4.99mln.