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| Date | 25 Nov 2021 |
| Time | 10:29:23 |
| Category | Miscellaneous |
| ID | 6063T |
25 November 2021
Pires Investments plc
("Pires" or the "Company")
Update re Sure Ventures plc portfolio
Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to note the announcement made on 25 November 2021 by London-listed venture capital fund Sure Ventures plc ("Sure Ventures"), providing an update on its investment portfolio during Q3 2021.
Sure Ventures has a 25.9% interest in Sure Valley Ventures ("SVV"), a venture capital fund focused on investing in the software technology sector with a specific focus on Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data. Pires has a combined direct and indirect (via its 24.9% shareholding in Sure Ventures) interest in SVV of circa 20%.
Nicholas Lee, Director of Pires commented:
"We are pleased to note the continued progress demonstrated across the SVV portfolio in Q3 2021. It is important to note that this period does not include the impact on the portfolio of Admix's successful Series B funding round, as announced by the Company on 26 October 2021, when Admix raised US$25 million. A number of well-respected VCs and gaming industry figures participated in the fundraise at a valuation of Admix which represents a 1,500% uplift on the valuation at which SVV initially invested, clearly demonstrating yet again the quality of the SVV portfolio. We look forward to updating the market on progress across the portfolio in due course."
Enquiries:
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Pires Investments plc Nicholas Lee, Director
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Tel: +44 (0) 20 3368 8961
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Joint Broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams
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Tel: +44 (0) 20 7469 0935 Tel: +44 (0) 20 7469 0936 |
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Joint Broker Tennyson Securities Peter Krens
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Tel: +44 (0) 20 3167 7221
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Financial media and PR Yellow Jersey Sarah Hollins Henry Wilkinson Annabelle Wills |
Tel: +44 (0) 20 3004 9512
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Notes to Editors
About Pires Investments plc
Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.
The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.
For further information, visit: https://piresinvestments.com/.