Business
Bolt's EUR150m capital raise and portfolio update
Bolt's EUR150m capital raise and portfolio update.
About this update from Tmt Investments Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9292I\n TMT Investments PLC\n 17 December 2020\n \n \n \n \n 17\n December 2020\n \n \n \n \n \n TMT INVESTMENTS Plc\n \n \n (\"TMT\" or the \"Company\")\n \n \n \n \n \n Bolt's €150 million capital raise and portfolio update\n \n \n \n \n \n TMT Investments Plc (AIM: TMT.L), the venture capital company investing in high-growth technology companies, is pleased to announce \n the following developments in the Company's portfolio since the publication of the Company's previous portfolio update on 12 November 2020.\n \n \n \n \n \n Bolt\n \n \n \n \n \n TMT's portfolio company Bolt, a leading international ride-hailing and food delivery company (\n \n \n www.bolt.eu\n \n \n ), announced, on 16 December 2020, that it had successfully raised €150 million (US$182 million) in an equity finance round led by D1 Capital Partners. \n The transaction represents a substantial valuation uplift of approximately US$14.1 million (or 64%) in the value of TMT's investment in Bolt, \n compared to the previous amount as of 30 June 2020.\n \n \n \n \n \n Other positive revaluations\n \n \n ·\n In November 2020, MEL Science, an EdTech company focused on VR-assisted chemistry and physics experiment subscription kits for children (\n \n \n www.melscience.com\n \n \n ), completed a new US$14 million equity funding round. The transaction represented a revaluation uplift of US$0.66 million (or 33.2%) in the fair value of TMT's investment in MEL Science, compared to the previous amount as of 30 June 2020.\n \n \n ·\n In November 2020, Scalarr Inc. (\"Scalarr\"), a machine learning-based fraud detection solution focused on the advertising market (\n \n \n www.scalarr.io\n \n \n ), completed a new equity funding round. The transaction represented a revaluation uplift of US$0.76 million (or 50.4%) in the fair value of TMT's investment in Scalarr, compared to the previous amount as of 30 June 2020.\n \n \n \n \n \n These revaluations, which are in addition to the approximate US$1.0 per share increase in the Company's net asset value (\"NAV\") as a result of the Pipedrive disposal announced on 12 November 2020, collectively will result in a further significant increase in the Company's NAV equivalent to approximately US$0.53 per share (before adjustments for the Company's ...