REG - Sure Ventures PLC - Sure Ventures PLC Q1 2025 NAV and Portfolio update

Sure VenturesAnnouncement

20/06/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250620:nRST6673Na&default-theme=true

RNS Number : 6673N  Sure Ventures PLC  20 June 2025

Sure Ventures PLC

 

Q1 2025 NAV Calculation and portfolio update

 

Sure Ventures PLC("Sure Ventures" or "The Company") is a London listed
venture capital fund which invests in early-stage software companies in the
rapidly growing technology areas of Artificial Intelligence (AI), Augmented
Reality ('AR'), Virtual Reality ('VR') and the Internet of Things ('IoT'). We
are pleased to provide an update on the Company's investment portfolio.

SURE VALLEY VENTURES FUND (ICAV)

Sure Ventures made a €7million commitment to Sure Valley Ventures Fund
('Sure Valley') representing an interest in Sure Valley ICAV of
approximately 25.9%. This commitment was made at a price of €1.00 per
share. The current NAV of the Sure Valley Ventures ICAV as of Q4 2025
is €2.483 which has decreased by 10.35% from its NAV as at Q4 2024 and the
fund is fully invested.

SURE VALLEY VENTURES ENTERPRISE CAPITAL FUND (ECF)

Sure Ventures PLC has a £5m commitment and owns approximately 6% of the
overall fund. The investment period is still at a relatively early stage, with
only 20% of this commitment funded so far. The current NAV stands at £0.6909,
an increase of 2.09% and the portfolio has grown and at quarter end consists
of 11 AI technology companies.

Sure Valley Ventures Fund (ICAV)

Updates on some of the notable ICAV portfolio company's below:

 

Infinite Reality Labs (Formerly LandVault)

 

The ICAV invested into Admix in 2018, at the time the company was an
advertising platform for metaverse (e.g. AR/VR/Games/esports). The company was
based in London and led by Samuel Huber as CEO, Joe Bachle-Morris as COO and
Mark Rich as CTO.

In July 2024 the company announced that they had accepted an offer of $450m
from Infinite Reality (iR) Labs. The offer is a share-for-share transaction
and Infinite Reality gave an intention to list on Nasdaq. The reported
valuation of Infinite Reality was $5.1BN, which was underpinned by a new
fundraise of $350m at the same time as the acquisition.

Infinite Reality has since completed further funding round's and the latest
public valuation stands at $12.25bn dollars. The AIFM team are looking at
methods to exit some of its stake and will keep the market informed as to its
progress.

Getvisibility

 

We can confirm that the sale of Getvisibility was concluded, and cash has been
received. This was a fantastic exit for Investors, with a 4.5x multiple on
total cash invested. The Company was acquired by Forcepoint, who are a global
leader in data and cloud security. The sale price will remain an undisclosed
amount.

The proceeds of the sale have been used to pay down our outstanding debt
position, clear creditors and the residual will be used to continue our
investment strategy and alongside other imminent potential exists, a special
dividend will be considered by the board.

 

Sure Valley Ventures Enterprise Capital Fund (ECF)

Some commentary on 3 of its portfolio companies below:

Vizgard

Vizgard is addressing the challenges of information overload and inefficiency
in Defence and Security operations. Traditional systems often rely on manual
processes that are slow, ineffective, and error-prone in critical
environments. Vizgard's FortifAI platform transforms precision cameras into
intelligent, automated systems, delivering real-time intelligence and reducing
operator burden.

 

Vizgard has secured 18 customers, across 3 countries, including Tier 1 Defence
primes and Its technology has been validated in challenging deployments,
including counter-drone systems and long-range surveillance, highlighting its
scalability and reliability.

 

Stylus

Stylus is solving a critical challenge in education: the high workload
involved in marking paper-based assessments, a major factor in teacher burnout
and turnover. Unlike digital-first solutions, Stylus recognizes the continued
reliance on paper in schools and has developed an AI-driven platform tailored
to this reality. The product enables teachers to scan completed assessments,
automating the grading process to provide instant, personalised feedback,
which enhances the educational experience while freeing up teachers for more
impactful work.

 

Stylus completed its full product launch in January 2025, and has won a
contract with the Department of Education for AI marking in short order.

 

Captur

Captur is an AI company that is developing a tool that has the potential to
automate the workflows of many industry verticals and have already proven the
product in the micro-mobility space and are expanding into delivery, car
vehicle inspection and other industry verticals.

 

Lime is now live in London and Paris for e-scooter and e-bike parking
compliance

on iOS and Android, as the company work towards a global rollout of Captur in
over

200 cities. Captur also announced partnership with VEO to bring AI-Powered
Parking to 50+ U.S. Markets.

 

SURE Ventures PLC NAV Calculation

The NAV of Sure Ventures PLC for Q1 2025 stands at 168p, which represents a
7.18% decrease for the period. This decrease was largely due to FX swings on
our book value position in Infinite Reality. We have maintained a 20% discount
to book value and have not uplifted the valuation of Infinite,  despite a
further public revaluation stated by the Company.

 

Gareth Burchell-Director Comments

"We are very pleased with the cash exit the AIFM team achieved with
Getvisibility, this has enabled us to clear all debt and interest, gives us a
sound footing for the future and puts us in a position to consider a dividend
distribution.

The Nav drop has been largely FX related and given the progress of portfolio
companies in both our Irish and UK funds, we believe that this drop should be
short lived. We look forward to updating the market on future developments and
investments in our UK fund (ECF) and potential exits in our Irish fund
(ICAV)."

 

For further information, please visit www.sureventuresplc.com or contact:

Gareth Burchell

Sure Ventures plc

+44 (0) 20 7186 9918

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFZGMVLLNGKZM