REG - Sure Ventures PLC - Infinite Reality Update

Sure VenturesAnnouncement

10/01/2025 07:00

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RNS Number : 8255S  Sure Ventures PLC  10 January 2025

Sure Ventures PLC

Infinite Reality Update:

 

Sure Ventures PLC would like to draw attention to a public announcement made
by Infinite Reality ("iR") on the 8(th) of January 2025. The key information
in the announcement is as follows:

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

·    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.

This Investment round is a further significant uplift to the valuation and
therefore the value of Sure Valley Ventures holding in infinite Reality. Sure
Ventures PLC has a 25.9% holding in Sure Valley Ventures Fund 1.

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.

 

Gareth Burchell, Director, commented:

"The fundraise and valuation achieved by Infinite Reality is very pleasing,
with a significant "war chest" for the Business to maintain its growth
strategy. This news bodes well for the future realisation of our investment.

It also serves as a reminder to investors that the portfolio of fund 1 is now
in exit mode as the companies begin to mature. We look forward to updating the
market on further exits in the future and rewarding long-term and loyal
shareholders".

 

  Gareth
Burchell-Director
   Tel: 0207 186 9950

 

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