Vela Technologies (LON:VELA) is an AIM listed investment company with a key focus on disruptive technology. Vela Technologies, with investment in 9 different companies believes this path they are following provides exciting opportunities as businesses are increasingly able to use technology to improve reach, customer acquisition, retention, profitability or efficiency. The growth predicted from this technology solution sector is driven by an increased connectivity and demand globally by consumers using technology such as smart phones to conduct their business.
Following announcing its recent stake in TSX listed Blockchain Tech Limited (BTL Group) a technology company exploring applications of blockchain technology in a variety of industries, Antony Laiker, Executive Director has taken time out to discuss various aspects of the investment.
Q1. Briefly, could you please set the scene with the background to Vela Technologies?
Vela Technologies came into existence in early 2013 when Brent and I became directors in conjunction with a refinancing of what was effectively a cash shell following the CVA of the previous business. I was seeing very interesting deals within the technology sector – particularly in disruptive technologies. So we set about looking to make investments in this sector which we felt, after 12 years of being unloved by investors, could revive and the stock market was not paying attention. By stating technology as our intended focus of investment, Vela Technologies would be able to invest across a wide range of activities and sectors although with the underlying theme that the investments have to be disruptive.
For us disruptive is not, for example, just a new piece of software. For us, “disruptive” means that the use of technology, allows a transformation of an existing industry or service.
Furthermore it must be scalable and easy to understand. I take the view that if I can’t explain it succinctly or don’t understand it, whatever the boffins might say, then we will not invest.
Q2. Can you please briefly explain the different investments held by Vela Technologies?
Since the end of the half year, Vela made a further investment in BTL Group, which is listed Canada. BTL is exploring applications of blockchain technology in a variety of industries including money transmission, insurance, voting and smart contracts. In the last week, BTL has announced the formal launch of its first platform - a remittance business called Interbit.
Otherwise, our previous…
