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

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.

PTSB’s €1.4bn sale is a sign it is preparing for a fresh loans crisis

---

Higher bonuses at Deutsche Bank after unexpected profit

---

Circit selected by AIB to help audit process work better

---

Central Bank finds litany of shortcomings in fund firms

---

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.