Draper Esprit PLC DRAPER ESPRIT ANNOUNCES NEW COMMITMENTS OF £12M (8563F)
26 February 2018 - 6:01PM
UK Regulatory
TIDMGROW
RNS Number : 8563F
Draper Esprit PLC
26 February 2018
Strictly embargoed until: 07.00 a.m. on 26 February 2018
Draper Esprit plc
("Draper Esprit" or the "Company")
DRAPER ESPRIT ANNOUNCES NEW COMMITMENTS OF GBP12 MILLION
IN FIVE LEADING EUROPEAN SEED FUNDS
Draper Esprit (AIM: GROW, ESM: GRW), a leading venture capital
firm investing in high growth digital technology businesses today
announces two new investments in Europe's top seed funds: Join
Capital in Berlin (http://www.join.capital/) and Icebreaker in
Finland (https://icebreaker.vc/). Commitments have also been made
to three other funds based in London, Cambridge and Ireland. The
total commitment is GBP12 million across all five funds.
These investments are a continuation of the Company's Fund of
Funds strategy to invest GBP75 million over a five-year period in
Europe's best seed funds, as announced in October 2017. Alongside
previous investments in Seedcamp, Episode1 Ventures, Crowdcube and
Seedrs, these investments enable Draper investors to gain access to
some of Europe's highest quality seed funds.
Furthermore, it complements the Company's core strategy to
invest approximately GBP100 million a year in technology businesses
in series A, B and C+ rounds across the Group's funds and gives the
management team further access to high quality deal flow from
across Europe.
Commenting on the announcement Simon Cook, Chief Executive
said:
"In October last year we announced our intention to invest in
seed funds to give investors access to early stage technology
businesses through Europe's top seed funding platforms. This gives
them exposure to a very important asset class on a pooled portfolio
approach; giving a degree of risk mitigation, with added liquidity
and without them having to sift through and pick individual seed
funds themselves. It also gives shareholders and investors an
opportunity to support European tech from British shores, helping
to ensure the UK continues to have a leading role in European
venture."
*ends*
For further information, please contact:
Draper Esprit plc
Simon Cook (Chief Executive Officer)
Ben Wilkinson (Chief Financial Officer) +44 (0)20 7931 8800
Numis Securities
Nominated Adviser & Joint Broker
Alex Ham
Richard Thomas
Jamie Loughborough
Harry Trueman +44 (0)20 7260 1000
Goodbody Stockbrokers
ESM Adviser & Joint Broker
Don Harrington
Linda Hickey
Charlotte Craigie
Richard Tunney +353 1 667 0420
Belvedere Communications (PR)
John West
Kim van Beeck +44 (0)20 3567 0510
About Draper Esprit
Draper Esprit is one of the most active venture capital firms in
Europe, developing and investing in disruptive, high growth
technology companies. We believe the best entrepreneurs in Europe
are capable of building the global businesses of the future. We
fuel their growth with long- term capital, access to international
networks and decades of experience building businesses. Currently
Draper Esprit is a shareholder in a diverse portfolio of companies
including Trustpilot, Graze, Perkbox, PushDoctor and Graphcore.
Visit www.draperesprit.com
About Join Capital and Ice Breaker
Ice Breaker is the most active VC Fund in Finland investing
mainly in Finnish startups. Join Capital, based in Berlin, invests
in enterprise and industrial tech startups at the post seed
stage.
Visit http://www.join.capital/contact/ and
https://icebreaker.vc/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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