Sure Ventures PLC (LON:SURE) shares gained on Monday as the augmented and virtual reality investor notched up its first realised gain with the sale of 3D artificial intelligence platform Artomatix.
The investment was held by 25.9% owned associate Suir Valley Ventures (SVV) with the sale price a cash multiple of approximately five times its initial investment.
Sure Ventures will book a profit of €1.6mln from the sale.
Gareth Burchell, a Sure Ventures director, said: "Artomatix is our first realised gain; to achieve a 5x cash on cash return over 14 months is very pleasing.
“Given our market capitalisation of circa £5 million, this is a significant return and we would like to thank the Artomatix team for their effort, ambition and commitment.”
Barry Downes, Sure Ventures chief investment officer and managing partner at SVV, added: “For investors in SVV, I'm delighted that we can return most of their capital invested to date with this one transaction.”
In morning trade, shares in Sure Ventures were 3.4% higher at 106p.
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