Forward Partners Grp - Cash Realisation Following Partial Disposal
11/12/2023 08:51
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RNS Number : 3265W Forward Partners Group PLC 11 December 2023
Forward Partners Group plc
("Forward Partners" or "the Company")
Cash Realisation Following Partial Disposal
Forward Partners Group plc (LSE: FWD) the London-based investment firm
specialising in supporting high-growth, early-stage technology businesses,
confirms a cash realisation from the partial disposal of its holding in Robin
AI Limited ("Robin"), generating net cash proceeds of £3.5m.
Robin is a legal-tech company which utilises generative AI to improve the
speed and reduce the cost of agreeing contracts. In June 2023 it was selected
for the "Ones to Watch" feature of UK start-ups in the 2023 edition of The
Sunday Times 100. Forward Partners first invested in Robin in 2019 and has
provided the business with a total investment of £1.7m to date. In its
interim results released on 28 September 2023, the Company was holding its
investment in Robin at a Fair Value of £8.2m.
In this disposal, which values Robin at 4% above the value disclosed in the
interim results, Forward Partners will sell approximately 41% of its holding.
Enquiries
Forward Partners Group plc Via Alma
Nic Brisbourne, CEO
Lloyd Smith, CFO and Company Secretary
Liberum Capital Limited Tel: +44 (0)20 3100 2222
(Nominated Adviser and Broker)
Chris Clarke
Lauren Kettle
Alma Strategic Communications Email: forward@almastrategic.com
(Financial Communications Adviser) Tel: +44 (0)20 3405 0205
David Ison
Andy Bryant
Will Ellis Hancock
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019. Upon the publication of this announcement via the Regulatory
Information Service, this inside information is now considered to be in the
public domain.
About Forward Partners
Founded in 2013, Forward Partners is an established and respected London-based
venture capital firm, specialising in supporting high growth, early-stage
technology businesses in the UK. It holds a ten-year track record of making
venture capital investments and receives over 4,000 start-up funding
applications every year.
The Group brings together venture capital with highly specialised growth
support from Forward's Studio. This model supports founders to build stronger
businesses faster to provide better outcomes for companies and investors
alike.
The management team brings together highly experienced venture capitalists,
entrepreneurs, and expert consultants. Since 2015, Forward Partners has been
backed by BlackRock, one of the largest institutional investors in the world.
For more information and insights into Forward's portfolio, visit
www.forwardpartners.com (http://www.forwardpartners.com/) .
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