Tech-focused venture capital firm Draper Esprit announced this morning that the value of its portfolio has more than doubled over the past year, to £244m.
The firm, which has invested in businesses such as customer review site Trustpilot and indirectly backs fintech “unicorn” Transferwise, put the increase down to £71m of new investments and a £75m boost in the “fair value” of its existing investments.
Companies such as Graphcore, Lyst, Perkbox, Podpoint and Transferwise, which Draper Esprit grabbed when it acquired Seedcamp’s first two funds, performed well and accounted for much of the increase in value, the firm said.
“As we continue to grow portfolio value with clear market leaders, and generate meaningful cash returns for our investors, we are demonstrating an ability to scale our model at an increased pace,” said Draper Esprit’s chief executive Simon Cook.
“Our portfolio is growing and scaling with our hands-on help and global network and, as our results show, we are firmly on track to deliver continued and sustainable growth.”
Draper Esprit also made a number of interesting investments over the year, such as ploughing £18m into cryptocurrency and blockchain security company Ledger and £12m into online mental health platform IESO Digital Health.