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LONDON - Albion Technology & General VCT PLC reported a 0.6% increase in its unaudited net asset value (NAV) for the first quarter of 2025, according to a press release statement issued Tuesday.
The company’s NAV rose to £274.8 million, or 73.51 pence per share, representing an increase of 0.47 pence per share from December 31, 2024.
The venture capital trust completed its £30 million fundraising offer on March 31, reaching its limit including the £10 million over-allotment facility. On March 21, the company issued 29,774,402 shares at prices between 74.54 and 75.30 pence per share, generating net proceeds of £21.75 million.
During the first quarter, Albion Technology & General VCT made new investments totaling £2.67 million across six companies, including £1.72 million in Latent Technology Group, which specializes in reinforcement learning-based animation, and £350,000 in Innerworks Technology, an adaptive security firm.
The trust also made further investments of £2.59 million in existing portfolio companies, with the largest allocations going to Mondra Global (£1.27 million) and TransFICC (£1.1 million).
As of March 31, Quantexa, a network analytics platform for financial crime detection, remained the company’s largest holding at £51.4 million, representing 18.7% of net assets. Proveca, which reformulates medicines for children, was the second-largest investment at £18.4 million (6.7% of net assets).
Following the reporting period, on April 4, the company issued an additional 10,100,775 shares at 75.30 pence per share, raising £7.38 million.
The company did not repurchase any shares during the quarter as it was in a close period until April 23, 2025.
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