REG - Mindflair PLC - Infinite Reality raises US$3 billion

MindflairAnnouncement

09/01/2025 15:15

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RNS Number : 8017S  Mindflair PLC  09 January 2025

9 January 2025

 

Mindflair plc

 

("Mindflair" or the "Company")

Infinite Reality raises US$3 billion on a US$12 billion valuation

 

Mindflair plc (AIM: MFAI), the company investing in next generation technology
focused on AI, is pleased to note the public announcement by Infinite Reality
(https://www.theinfinitereality.com/news/infinite-reality-raises-3-billion-moves-valuation-to-12-25-billion)
("iR") on 8 January 2025. Key information in this announcement includes:

·    iR has raised additional equity of US$3 billion in cash, increasing
iR's indicative valuation to US$12.25 billion.

·    Execution of a 5 year deal with Google Cloud.

·    Launch of FIM SGP-Verse in collaboration with Warner Bros Discovery
Sports.

The first Sure Valley Ventures fund ("SVV1") has an equity shareholding in iR
as a result of  iR's acquisition of SVV1's portfolio company Landvault
(https://mindflair.tech/wp-content/uploads/2024/07/Landvault-release-Final-CL.pdf)
in July 2024, in a US$450 million all-share transaction. At the time of the
acquisition, SVV1 had a 7% shareholding in Landvault. iR's publicly declared
valuation at that time, following a US$350 million fund raising, was US$5.1
billion.

Mindflair holds a 13% direct interest in SVV1 and a 6.1% indirect interest via
its holding in Sure Ventures plc who in turn has a 25.9% holding in SVV1.

SVV1 is a venture capital fund, investing in a range of software companies
with a focus on companies in AI and machine learning, Immersive Tech,
Metaverse and Cybersecurity sectors. SVV1 is one of a number of funds managed
by Sure Valley Ventures whose sovereign-backed investors include the British
Business Bank and Enterprise Ireland.

 

 

Nicholas Lee, Director of Mindflair, commented:

 

"We are pleased to see the increasing valuation of iR driven by a further
significant cash investment being made into that business. This clearly bodes
well for the future realisation of our investment."

 

The Directors of the Company are responsible for the release of this
announcement. The person who arranged for the release of this information is
Nicholas Lee, a director of the Company.

 

Enquiries:

 

 Mindflair plc

 Nicholas Lee, Director         Tel: +44 (0) 20 3368 8961
 Nominated Adviser

 Cairn Financial Advisers LLP   Tel: +44 (0) 20 7213 0880

 Liam Murray

 Ludovico Lazzaretti

 Joint broker                   Tel: +44 (0) 20 7469 0935

 Peterhouse Capital Limited     Tel: +44 (0) 20 7469 0936

 Duncan Vasey/Lucy Williams

 

 Joint broker                 Tel: +44 (0) 20 7601 6100

 Shard Capital Partners LLP

 Damon Heath

 

Notes to Editors

 

About Mindflair plc

 

Mindflair plc (AIM: MFAI) is an investment company providing investors with
access to a portfolio of next generation technology businesses focused on AI
with significant growth potential.

 

The Company is building an investment portfolio of high-tech businesses across
areas such as Artificial Intelligence, Internet of Things, Cyber Security,
Machine Learning, Immersive Technologies and Big Data, which the Board
believes demonstrate evidence of traction and the potential for exponential
growth, due to increasing global demand for development in these sectors.

For further information, visit is http://www.mindflair.tech/
(http://www.mindflair.tech/) .

 

Caution regarding forward looking statements

 

Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'', ''could'', "should" ''envisage'',
''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect",
''will'' or the negative of those, variations or comparable expressions,
including references to assumptions. These forward-looking statements are not
based on historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the amount,
nature and sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on information
currently available to the Directors.

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