- Venture capital company TMT Investments said it had made changes to its portfolio, noting that it had sold two of its investments and made three new ones.

The company said it had entered into an agreement to sell around 9% of its interest in data backup and cloud storage firm Backblaze for a cash consideration of $2m.

'TMT was one of the first institutional external investors in Backblaze in 2012 and it is pleasing to see the value of our investment has increased by approximately 4.6 times.' said executive director Alexander Selegenev.

He added that the company was continuing to invest the proceeds from its $22.6m exit from Wrike.

TMT said it had also sold its entire stake in Unicell Advanced Cellular Solutions for a net cash consideration of $0.97m. Its investment in Unicell was valued at US$0.98m as of 31 December 2018.

Since publishing its 2018 annual report, it said it had also invested $350,000 in electric scooter sharing platform developer Cheetah Z, $1.5m in machine-learning fraud detection solution Scalarr and $1m in AI data design firm Accern Corporation.

The company said it would announce its interim results in the week beginning 16 September 2019.

At 9:51am: [LON:TMT] TMT Investments share price was +0.01p at 5.88p

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