Source - LSE Non-Regulatory
RNS Number : 6063T
Pires Investments PLC
25 November 2021
 

25 November 2021

Pires Investments plc

 

("Pires" or the "Company")

 

Update re Sure Ventures plc portfolio

 

Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to note the announcement made on 25 November 2021 by London-listed venture capital fund Sure Ventures plc ("Sure Ventures"), providing an update on its investment portfolio during Q3 2021.

 

Sure Ventures has a 25.9% interest in Sure Valley Ventures ("SVV"), a venture capital fund focused on investing in the software technology sector with a specific focus on Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data. Pires has a combined direct and indirect (via its 24.9% shareholding in Sure Ventures) interest in SVV of circa 20%.

 

Nicholas Lee, Director of Pires commented:

 

"We are pleased to note the continued progress demonstrated across the SVV portfolio in Q3 2021.  It is important to note that this period does not include the impact on the portfolio of Admix's successful Series B funding round, as announced by the Company on 26 October 2021, when Admix raised US$25 million. A number of well-respected VCs and gaming industry figures participated in the fundraise at a valuation of Admix which represents a 1,500% uplift on the valuation at which SVV initially invested, clearly demonstrating yet again the quality of the SVV portfolio. We look forward to updating the market on progress across the portfolio in due course."

 

Enquiries:
 

Pires Investments plc

Nicholas Lee, Director

 

Tel: +44 (0) 20 3368 8961

 

Joint Broker

Peterhouse Capital Limited

Duncan Vasey/Lucy Williams

 

Tel: +44 (0) 20 7469 0935

Tel: +44 (0) 20 7469 0936
 

Joint Broker

Tennyson Securities

Peter Krens

 

Tel: +44 (0) 20 3167 7221

 

Financial media and PR

Yellow Jersey

Sarah Hollins

Henry Wilkinson

Annabelle Wills

Tel: +44 (0) 20 3004 9512

 

 

Notes to Editors

 

About Pires Investments plc

 

Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses 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: https://piresinvestments.com/.

 

 

 

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