TMT Investments PLC Revaluation of investment in Pipedrive, Inc. (5242U)
19 January 2017 - 1:20AM
UK Regulatory
TIDMTMT
RNS Number : 5242U
TMT Investments PLC
18 January 2017
18 January 2017
TMT INVESTMENTS PLC
("TMT" or the "Company")
Revaluation of investment in Pipedrive, Inc.
TMT Investments PLC, the AIM-traded venture capital company
investing in high-growth, internet-based companies across a variety
of core specialist sectors, is pleased to announce that its
portfolio company Pipedrive, Inc. ("Pipedrive") has completed a
US$17 million Series B equity financing round, led by Atomico, with
participation from Bessemer Venture Partners and Rembrandt Venture
Partners.
The transaction represents a revaluation uplift of approximately
US$4.08 million (or 132%) in the fair value of TMT's investment in
Pipedrive, compared to the previous announced amount as of 30 June
2016, and is equivalent to approximately 14.7 cents in additional
net asset value per TMT share.
Alexander Selegenev, Executive Director of TMT, commented: "We
are delighted with this significant positive revaluation of yet
another of our star portfolio companies. With the growth rates
Pipedrive has experienced since our original and follow-on
investments in 2012 and 2013, it was just a matter of time before
that success would be reflected in its valuation. The US$4.08
million uplift in the fair value of our investment in Pipedrive is
equivalent to approximately 14.7 cents in additional NAV per TMT
share. This revaluation, which takes place just over a year after
the previous sizable revaluation of our investment in Pipedrive,
represents an approximately 7.7% increase from TMT's last announced
NAV per share of US$1.91 as of 30 June 2016."
About Pipedrive
Founded in 2010 by seasoned sales professionals, Pipedrive
(www.pipedrive.com) is a sales CRM (customer relationship
management) solution designed to help salespeople rather than
control them. It is built on a proven selling framework that gives
visibility into the pipeline and consistently drives actions that
push deals to close. Pipedrive serves over 30,000 paying small
business customers worldwide and employs more than 200 people
across its offices in New York and Estonia. To date, Pipedrive has
raised a total of $30.4 million in funding from Atomico, Bessemer
Venture Partners, Rembrandt Venture Partners and others. Pipedrive
ranks no. 14 on the Inc. 5000 list as one of America's fastest
growing private software companies.
For further information contact:
TMT Investments plc +44 1534 281 843
Alexander Selegenev alexander.selegenev@tmtinvestments.com
Executive Director
www.tmtinvestments.com
ZAI Corporate Finance
Ltd.
NOMAD
Peter Trevelyan-Clark/Jamie
Spotswood +44 20 7060 2220
Hybridan LLP
Broker
Claire Louise Noyce +44 20 3764 2341
Kinlan Communications Tel. +44 20 7638 3435
David Hothersall davidh@kinlan.net
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
About TMT Investments Plc
TMT Investments PLC invests in high-growth, internet-based
companies across a variety of core specialist sectors and has a
significant number of Silicon Valley investments in its portfolio.
Founded in 2010, TMT has net assets of US$53m and has invested in
over 40 companies to date. The company's objective is to generate
an attractive rate of return for shareholders, predominantly
through capital appreciation. The company is traded on the AIM
market of the London Stock Exchange. www.tmtinvestments.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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