Sure Ventures has directly invested £500,000 into VR pod group Immotion but also €7mln for a 25.9% stake in Sure Valley, its Ireland-based sub-fund, which specialises in AI, augmented reality (AR) and virtual reality (VR) firms.
Gareth Burchell, a Sure Ventures director, said: "We are pleased with the performance of our portfolio and are now witnessing the businesses commercialise their software.
“The commercialisation stage of a software business can yield some significant, fast-paced results and we are beginning to see the portfolio mature and expect to be able to report some valuation milestones soon.
“The NAV of Sure Ventures is very much linked to the share price performance of Immotion Plc at present, but as we continue to see the AIFM [alternative investment fund manager] deploy capital, we will begin to see that dependency dilute the percentage weighting of Immotion in the NAV calculation going forward.”
Sure Valley has several holdings across the AR, VR, IoT and AI in Fintech sectors, including AIM-listed VR Education PLC (LON:VRE), WarDucks, Wia and Artomatix, while Sure Ventures has a direct stake in holographic software group VividQ in addition to Immotion.