Draper Esprit (GROW) , the AIM listed technology focussed venture capital firm saw profits increase 83% to £111.2 million driven by a number of cash exits and strong portfolio gains.
Draper Esprit’s Gross Primary Portfolio value grow 144% to £594 million and its NAV per share increased 26% to 524p.
The VC firm told investors it has sold some of its stake in Transferwise for £15.3 million, and invested in 21 new companies during the year.
Shares in Draper Esprit were trading 1.44% lower at 480p after it posted its final results on Tuesday
Simon Cook, CEO at Draper Esprit, told investors the year was “a transformational period” for the business, after two fundraisings and £226.4 million in investments in high growth technology companies across Europe.
He said: “We have cemented our standing as one of Europe's largest VCs, delivering growth and scale across our portfolio, as well as in our own business, which will continue to drive long-term, sustainable returns for our shareholders giving them access to high growth private technology companies through a listed company”
He added that the Venture Capital firm had exceeded its core aim of a portfolio return of 20% per annum with an annual return of 58% on opening portfolio value.
Follow News & Updates from Draper Espirit here: