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LONDON - Sure Ventures PLC (LON:SURE) reported a 4.09% decrease in its Net Asset Value (NAV) to £1.686 per share for the second quarter of 2025, primarily due to foreign exchange rate fluctuations affecting underlying fund positions, according to a press release issued Tuesday.
The London-listed venture capital fund, which focuses on early-stage software companies in AI, augmented reality, virtual reality, and Internet of Things sectors, currently trades at 82.5p per share, representing a 51.06% discount to its NAV.
The company’s €7 million commitment to Sure Valley Ventures Fund (ICAV), representing approximately 25.9% interest, saw its NAV decrease by 2.125% to €2.43022 in Q2 compared to Q1 2025. The fund is fully invested, with the change attributed to currency effects on fund positions.
Meanwhile, Sure Ventures’ £5 million commitment to the Sure Valley Ventures Enterprise Capital Fund (ECF), representing about 6% ownership, showed a slight NAV increase of 0.03% to £0.69305. The ECF investment period remains in early stages with only 20% of the commitment funded so far. The portfolio has expanded to include 13 AI technology companies.
Notable portfolio developments include WIA, an Internet of Things platform company, extending a major energy monitoring project from 14 to 32 countries globally. CameraMatics, a fleet and driver risk management technology firm, received an additional €200,000 investment from Sure Ventures through a loan note to support expansion.
The ECF added two new investments during the quarter: Literal Labs, a University of Newcastle spinout developing energy-efficient software architecture, and Elelem Intelligence, a UK-based generative AI analytics company.
"The performance of the ICAV continues to bode well for more potential exits," said Gareth Burchell, Director at Sure Ventures, in the statement.
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