Business
Statement re Portfolio Revaluations
Statement re Portfolio Revaluations.
About this update from Tmt Investments Plc
[{"type":"text","content":"\n \nRNS Number : 6014P TMT Investments PLC 30 May 2018 \n\n30 May 2018\n \nTMT INVESTMENTS PLC\n(\"TMT\" or the \"Company\")\n \nPortfolio company revaluations and first \"unicorn\"\n \nTMT Investments PLC (AIM: TMT.L), the venture capital company investing in high-growth technology companies across a number of core specialist sectors, is pleased to announce the following revaluations of the Company's core portfolio investments.\n \nThese developments collectively have generated an estimated increase of approximately US$12.82 million in the Company's net asset value (\"NAV\"), equivalent to approximately 43.9 cents per share (before adjustments for the Company's ongoing operating expenses, bonus provisions, insignificant revaluations, potential future impairments, and similar items). This represents an uplift in the Company's NAV of 18.1% from the previously stated figure of US$2.43 per share as at 31 December 2017.\n \nTaxify\nTaxify, a leading international ride-hailing company (www.taxify.eu), has announced that it has completed a US$175 million funding round led by global automotive leader Daimler AG. European venture capital fund Korelya Capital and TransferWise's co-founder Taavet Hinrikus joined Didi Chuxing and a number of Taxify's other existing shareholders in the round that brings Taxify's valuation to US$1 billion. Daimler will also join Taxify's board. The transaction represents a revaluation uplift of US$13.30 million (or 350%) in the fair value of TMT's investment in Taxify, compared to the previous reported amount as of 31 December 2017.\n \nPipedrive\nTMT has sold a small holding in Pipedrive, a leading sales CRM (Customer Relationship Management) software provider (www.pipedrive.com), for a total consideration of US$2.0 million. The transaction represents a revaluation uplift of US$3.14 million in the fair value of TMT's residual investment in Pipedrive, compared to the previous reported amount as of 31 December 2017. \n \nScentbird\nScentbird, a subscription-based service for luxury fragrances and other beauty products (www.scentbird.com), has recently announced that it has completed a further funding round to raise US$18.6 million from a group of investors led by Goodwater Capital, the consumer technology investment firm, and joined ...