Sure Ventures PLC (LON:SURE) the London-listed venture capital fund, has announced that Sure Valley Ventures, in which it holds a 25.9% interest, has participated in a Series A investment round in Admix (Wam Group ltd) which raised up to $6.1mln.
In a statement, Sure Ventures, which invests in early-stage software companies across a range of verticals, noted that Admix has built a monetization platform for the next generation of entertainment, from traditional gaming to emerging channels such as Esports and VR/AR content.
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It said Admix continues to enhance and develop a "marketplace" connecting gaming/content developers with advertisers who want to buy non-intrusive, in game/content-ad formats for their brands.
The company pointed out that Admix has made strong progress monetising their business model and the Series A investment round will give them the capital to scale their platform.
It noted that Sure Valley was an initial seed investor in Admix in November 2018, investing an amount of circa £ 400,000 in and this Series A round represents a 450% unrealised gain. Sure Valley Ventures has committed a further £443,259. in the series A round and currently holds a 7.02% stake in Admix.
Gareth Burchell, a director of Sure Ventures commented: "We would like to congratulate Co-Founders Joe Bache-Morris and Sam Huber (CEO) on achieving their series A funding round and look forward to seeing them continue on their successful growth path in the coming months and years.
“The "marketplace" they have created is an efficient and hugely scalable tool, allowing both content producers and advertisers to conduct business seamlessly. Given the challenging economic environment we find ourselves in, home content consumption and brand placement within that content is more important than ever ."