Draper Esprit PLC Trustpilot Group plc confirms intention to float (4657R)
08 March 2021 - 8:06PM
UK Regulatory
TIDMGROW
RNS Number : 4657R
Draper Esprit PLC
08 March 2021
Draper Esprit plc
("Draper Esprit", "the Group" or the "Company")
Trustpilot Group plc confirms intention to float
Draper Esprit (LSE: GROW, Euronext Growth: GRW), a leading
venture capital firm investing in and developing high growth
digital technology businesses, notes the announcement this morning
from Trustpilot Group confirming its intention to undertake an
initial public offering ("IPO").
Draper Esprit first invested in Trustpilot in 2013 and has since
increased its holding through a combination of secondary
acquisitions and participation in follow on rounds. The Company's
total investment to date has been GBP29.7 million and as of our
interim results to 30 September 2020 the holding was valued at
GBP80.9 million.
Draper Esprit will update the market further at the conclusion
of the IPO process.
-ENDS-
Enquiries
Draper Esprit plc
Martin Davis (Chief Executive Officer)
Ben Wilkinson (Chief Financial Officer) +44 (0)20 7931 8800
Numis Securities
Nominated Adviser & Joint Broker
Simon Willis
Richard Thomas
Jamie Loughborough +44 (0)20 7260 1000
Goodbody Stockbrokers
Euronext Growth Adviser & Joint Broker
Don Harrington
Charlotte Craigie
Dearbhla Gallagher +44 (0) 20 3841 6202
Powerscourt
Public relations
Elly Williamson +44 (0)7970 246 725 /
Donjeta Miftari +44 (0)7961 628 862
About Draper Esprit
Draper Esprit is one of the most active venture capital firms in
Europe, 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 67 companies with 15 of those part of our core portfolio which
accounts for over 60% of our holdings. Our core companies include
Trustpilot, UiPath, Aircall, Graphcore and Revolut. We invest
across four sectors: Consumer Technology, Enterprise Technology,
Hardware and Deeptech, and Digital Health and Wellness, with highly
experienced partners constantly looking for new opportunities in
each. We look for high-growth companies with strong IP, powerful
technology, and the management teams to deliver success. They
operate in new markets, with serious potential for global
expansion. We also look for businesses with the potential to
generate strong margins to ensure rapid, sustainable growth in
substantial addressable markets.
Draper Esprit provides an opportunity for public market
investors to access these fast-growing tech businesses, without
having to commit to long term investments with limited liquidity.
Since IPO in June 2016, we have deployed circa GBP450m+ capital
into fast growing technology companies and have realised over
GBP210m. In October 2020 we raised gross proceeds of circa GBP110m
to help us capitalise on a European VC market which is expanding
rapidly but is still less than one quarter of the combined size of
the US and European market by value. It will also allow us to
capitalise on the transition to a digital future that has been
given added impetus as a result of the recent pandemic.
For more information, go to https://draperesprit.com/
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END
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March 08, 2021 04:06 ET (09:06 GMT)
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