Dublin-listed venture capital firm Draper Esprit positive on portfolio value

Firm specialises in investing in tech start-ups

Draper Esprit chief executive Martin Davis says the Covid-19 pandemic ‘is only serving to accelerate the transition to digital and creating new opportunities for new entrants across many end markets’.

Draper Esprit chief executive Martin Davis says the Covid-19 pandemic ‘is only serving to accelerate the transition to digital and creating new opportunities for new entrants across many end markets’.

 

Dublin-listed venture capital firm Draper Esprit says the value of its existing portfolio is just under £700 million (€775 million).

In a trading update, ahead of interim results next month, the company said its gross portfolio value, even after signficant realisations, is expected to be not less than £695 million.

Draper Esprit, which raised £110 million through the sale of new shares earlier this month, specialises in investing in tech start-ups.

“It is positive to see, especially in highly uncertain times, our portfolio of fast-growing European technology companies allows us to deliver for our shareholders,” chief executive Martin Davis said.

Leverage

“We continue to build the infrastructure to scale the group and leverage our co-investment model, which will enable us to take advantage of the opportunities we see in our existing portfolio and in the European market as a whole,” he said.

“The ongoing pandemic is only serving to accelerate the transition to digital and creating new opportunities for new entrants across many end markets. Our recent fundraise and potential for raising a growth fund will further support our vision of backing entrepreneurs to invent the future,” he added.