Forward Partners Grp - Portfolio Update
24/02/2022 07:00
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RNS Number : 6354C Forward Partners Group PLC 24 February 2022
Forward Partners Group plc
("plc", "Forward Partners", "Forward", "the Group" or the "Company")
Expected portfolio company valuation increase of £7.8m
Forward Partners (LSE: FWD), the London-based investment firm specialising in
supporting high growth, early-stage technology businesses, announces a £7.8m
portfolio company valuation uplift today, representing a 7.2% increase in
Venture Portfolio Value based upon £108m Venture Portfolio Value reported as
at 30 June 2021. The increase is a consequence of a portfolio company
successfully raising a $25m (£18.40m GBP) A round. Forward Partners
participated with a further £0.7m investment. Based upon the valuation
implied by the fundraising, the Company's holding is worth approximately
£9.5m, representing an increase of 8x on its original investment. The funding
round is subject to final completion, which is expected to take place shortly.
The Company considers this material increase in the valuation, coupled with
other encouraging developments within the portfolio, to be further endorsement
of Forward's strategy of partnering early with businesses in sectors
demonstrating fast and sustainable growth. As the Group enters FY22, it
continues to see an acceleration in the number of potential investment
opportunities and intends to make further selected investments in expanding
both portfolio and operational teams. These investments will increase the
Group's cost base, but position it to capture these opportunities and manage a
large portfolio.
The Group expects to announce a Q4/full year trading update over the next few
days.
ENDS
NOTE: GBP:USD exchange rate of 1.3586 fixed at NYSE market open 09:30 UTC on
23 February 2022.
Enquiries
FORWARD PARTNERS GROUP PLC Via Maitland/amo
Nic Brisbourne, Chief Executive Officer
Liberum Capital Limited
(Nominated Adviser and Broker) Tel: +44 (0) 20 3100 2222
Neil Patel
Lauren Kettle
Edward Phillips
Cara Murphy
Maitland/amo (Financial PR) forwardpartners@maitland.co.uk
Sam Turvey / Kate Pledger Tel: +44 (0) 207 379 5151
About Forward Partners
Founded in 2013, Forward Partners is an established and respected London-based
investor, specialising in supporting high growth, early-stage technology
businesses.
The Group brings together venture capital provider Forward Ventures,
equity-free revenue-based financing through Forward Advances and highly
specialised growth support from Forward Studio. This model supports founders
to build stronger businesses faster to provide better outcomes for companies
and investors alike.
The Group makes equity investments in early-stage, high growth UK companies,
and from inception to its admission to London's AIM market in July 2021 had
made over 60 unique investments and built a portfolio with an Initial
Portfolio NAV in excess of £100m. It holds an eight-year track record of
making venture capital investments, and targets underlying NAV growth of 20%
per annum over the cycle.
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.
The Group receives over 4,000 start-up funding applications every year.
For more information, visit https://forwardpartners.com
(https://forwardpartners.com/) .
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