StockMarketWire.com - TMT Investments' bonus-adjusted net asset value (NAV) per share grew by 10.6% to $2.09 in the first half of 2017 from $1.89 at 31 December 2016.

Document management platform PandaDoc completed a $15 million Series B equity financing round, led by Rembrandt Venture Partners, with participation from Microsoft Ventures, HubSpot, EBRD and Altos Ventures. The transaction represented a revaluation uplift of US$740,262 (or 150%) in the fair value of TMT's investment in PandaDoc.

TMT sold part of its equity stake in a portfolio company which is now disclosed as the work management and collaboration platform Wrike for US$400,000. The transaction represented a revaluation uplift of approximately US$4.89 million (or 114%) in the fair value of TMT's investment in Wrike.

Taxify completed a new equity financing round as part of a strategic partnership with Didi Chuxing, a mobile transportation platform. The transaction represented a revaluation uplift of approximately US$1.8 million (or 547%) in the fair value of TMT's investment in Taxify.

There were four small impairments of US$1.08m in total.

Alexander Selegenev, executive director, commented: "In line with expectations announced in our 2016 Annual Report, we have had three sizeable positive revaluations to date in 2017. These have more than offset the minor write-downs that we have diligently exercised in order to maintain our portfolio valuation updated.

"We continue to see exciting exit opportunities in our chosen sectors as shown by our recent partial exit from project management software company Wrike. This was achieved at a premium of 114% compared to the value of our stake at the end of December 2016. We are currently pursuing additional partial exit transactions for a number of our portfolio holdings."


At 8:28am: [LON:TMT] TMT Investments share price was +0.01p at 2.01p



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