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On January 8, 2025, Infinite Reality (iR) announced it raised $3bn in additional equity, increasing its indicative valuation to $12.25bn, and executed a 5-year deal with Google Cloud while launching FIM SGP-Verse with Warner Bros Discovery Sports. Sure Valley Ventures fund 1 (SVV1) holds an equity shareholding in iR, resulting from iR's US$450 million all-share acquisition of SVV1's portfolio company Landvault in July 2024, when SVV1 held 7% of Landvault. Sure Ventures PLC has a 25.9% holding in SVV1.
| Date | 10 Jan 2025 |
| Time | 07:00:05 |
| Category | Corporate updates |
| ID | 8255S |
Sure Ventures PLC
Infinite Reality Update:
Sure Ventures PLC would like to draw attention to a public announcement made by Infinite Reality ("iR") on the 8th of January 2025. The key information in the announcement is as follows:
· iR has raised additional equity of $3bn in cash, increasing iR's indicative valuation to $12.25bn
· Execution of a 5 year deal with Google Cloud.
· Launch of FIM SGP-Verse in collaboration with Warner Bros Discovery Sports
The first Sure Valley Ventures fund ("SVV1") has an equity shareholding in iR as a result of iR's acquisition of SVV1's portfolio company Landvault in July 2024, in a US$450 million all-share transaction. At the time of the acquisition, SVV1 had a 7% shareholding in Landvault.
This Investment round is a further significant uplift to the valuation and therefore the value of Sure Valley Ventures holding in infinite Reality. Sure Ventures PLC has a 25.9% holding in Sure Valley Ventures Fund 1.
SVV1 is a venture capital fund, investing in a range of software companies with a focus on companies in AI and machine learning, Immersive Tech, Metaverse and Cybersecurity sectors. SVV1 is one of a number of funds managed by Sure Valley Ventures whose sovereign-backed investors include the British Business Bank and Enterprise Ireland.
Gareth Burchell, Director, commented:
"The fundraise and valuation achieved by Infinite Reality is very pleasing, with a significant "war chest" for the Business to maintain its growth strategy. This news bodes well for the future realisation of our investment.
It also serves as a reminder to investors that the portfolio of fund 1 is now in exit mode as the companies begin to mature. We look forward to updating the market on further exits in the future and rewarding long-term and loyal shareholders".
Gareth Burchell-Director Tel: 0207 186 9950