StockMarketWire.com - Venture capital firm Draper Esprit reported higher net assets, led by a rise in the value of its core portfolio.
Net asset value per share increased by 6% to 555 pence on-year as gross portfolio increased by 18% to £703m.
The of the core portfolio companies increased to £471m from £415m.
The company invested £90m for the fiscal year, down from £226m last year. A further £38m was invested by EIS/VCT, up from £35m.
Cash realisations were £40m for the year, up from £16m last year, with further exits amounting to about £80m announced post year-end, the company said.
'Our portfolio companies are likely to be at the vanguard of this recovery given the likely acceleration of trends such as cloud infrastructure, online gaming and entertainment, digital healthcare, remote financial services and automation as a result of the changes made by countries, corporations and individuals,' the company said.
'Our growth target for the coming financial year is 15%, with an expectation of returning to 20% through the cycle whilst recognising the volatile environment in which we are currently operating,' it added.
At 8:50am: [LON:GROW] Draper Esprit PLC share price was +6.5p at 452.5p
Story provided by StockMarketWire.com
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