Albion Enterprise VCT PLC · LSE:AAEV
Albion Enterprise VCT — Shareholder Meeting (August 2022)
24 slides from Albion Enterprise VCT's shareholder meeting presentation, Aug 30, 2022
Slide 1: Albion Enterprise VCT PLC Results for the year to 31 March 2022
Albion Enterprise VCT PLC Results for the year to 31 March 2022 AGM 30 August 2022 Albion Enterprise VCT PLC – AGM Aug 2022
Slide 2: Agenda
Agenda • Financial highlights • Background • Track record • Highlights in the year • Investment portfolio • Realisations • Investment strategy • ESG & responsible investing • Prospects, Q1 results and shareholder events 2 Albion Enterprise VCT PLC – AGM Aug 2022
Slide 3: Financial highlights to Mar 2022
Financial highlights to Mar 2022 132.28p Net asset value (NAV) per share as at 31 Mar 2022 23.77p Increase in total shareholder value for the year ended 31 Mar 2022 20.74% Movement in shareholder value in the year 6.09p Tax-free dividends per share paid during the year 5.31% Tax-free dividend yield
Slide 4: Background
Background • Continued impact of Covid-19 during • Strong return across the portfolio despite the year headwinds, led by investments in healthcare and software • Further uncertainty due to the invasion of Ukraine, resulting in increased • Portfolio focus on mission critical products geopolitical ris
Slide 5: Track record
Track record Performance to 31 March 2022 1 year average 20.7% p.a. 3 year average 9.1% p.a. 1 year return 5 year average 11.6% p.a. 10 year average 11.7% p.a. 3 year return 5 year return 10 year return 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% Increase in shareholder value 5 Albion Enterpri
Slide 6: Highlights in the year
Highlights in the year 2021 2022 Notes 2020/21 fundraise & 2021/22 fundraise Fundraising £9.0m £21.5m Including Phrasee, MyMeds&Me, Credit Exits £9.0m £10.2m Kudos, MPP Global Solutions & Innovation Broking £2.8m into 6 new companies and £6.2m into Investment rate £7.9m £9.0m existing portfolio comp
Slide 7: Key value drivers in the year
Key value drivers in the year 2022 Notes Quantexa £7.7m Valuation uplift - external fundraising Oviva £2.5m Valuation uplift - external fundraising Egress Software Technologies £2.4m Valuation uplift Credit Kudos £1.9m Sold MyMeds&Me £1.5m Sold Concirrus (£0.6m) Valuation decrease Other – write ups
Slide 8: Portfolio analysis
Portfolio analysis Sector split Portfolio of 53 companies employing over 3,600 people predominantly in the UK 8 Comparatives for 31 March 2021 are shown in brackets. Albion Enterprise VCT PLC – AGM Aug 2022
Slide 9: Portfolio analysis
Portfolio analysis Stage of investment No. of employees * Renewable energy investments have no employees 9 Comparatives for 31 March 2021 are in brackets. Albion Enterprise VCT PLC – AGM Aug 2022
Slide 10: The top 3 investments account for 29% of the NAV
The top 3 investments account for 29% of the NAV at 31 Mar 2022 Investment Cost Book Revenue Employee date £000 value growth growth £000 European specialist pharmaceutical company 2012 1,512 6,232 ~25% LTM 4 to 50 focussed on children’s medicines Uses the latest advances in big data analytics and ar
Slide 11: New investments
New investments Perchpeek Limited uses an AI Gravitee TopCo (trading as NuvoAir Holdings is a powered platform to guide Gravitee.io) is an application provider of digital therapeutics and people through every stage of programming interface (API) decentralised clinical trials for their relocation man
Slide 12: New investment: Gravitee
New investment: Gravitee • APIs are the railways of the digital world with every company now a software company and likely to need an API management solution in the future Gravitee TopCo (trading as Gravitee.io) is an application programming interface (API) • Gravitee.io is the most open source and
Slide 13: New investment: NuvoAir
New investment: NuvoAir • NuvoAir had a record 500% growth in Q1 2021 in the wake of Covid • A trend set to continue as more hospitals and patients further A provider of digital therapeutics and embrace technology decentralised clinical trials for respiratory conditions • Albion VCTs invested £3.6m
Slide 14: £6.2m follow-ons
£6.2m follow-ons Digital health business that Leading digital health A provider of connectivity provides diet and lifestyle platform that measures solution, connecting financial coaching to people who deal patient’s health, outcomes institutions with trading with diet-related health and experience v
Slide 15: Realisations: Credit Kudos Limited
Realisations: Credit Kudos Limited Sold to a FAANG company £0.5m Invested by Albion Enterprise VCT Credit Kudos develops software that uses consumers' banking data to make 5.2x Cash on cash multiple more informed credit checks on loan applications £2.3m Albion Enterprise VCT proceeds 2 years Period
Slide 16: Realisations: Phrasee Limited
Realisations: Phrasee Limited Sold to Keyhaven Capital Partners and Capital D An AI-powered SaaS platform that £0.8m Invested by Albion Enterprise VCT revolutionises customer experiences through Brand Language Optimization 3.2x Cash on cash multiple £2.7m Albion Enterprise VCT proceeds 3.5 years Per
Slide 17: Realisations: MyMeds&Me Limited
Realisations: MyMeds&Me Limited Sold to Stanley Capital Partners LLP Invested by Albion Enterprise VCT Provides an end-to-end £0.7m pharmacovigilance solution to simplify adverse event and product quality data Cash on cash multiple capture and accelerate safety insights 3.4x Albion Enterprise VCT pr
Slide 18: Investment strategy
Investment strategy From Seed Backing Focus on • Software to Series B Long-term Business-to-Business • Healthcare (early stage trends (B2B) to growth) • Other (automotive technologies, sensors) 18 Albion Enterprise VCT PLC – AGM Aug 2022
Slide 19: ESG & responsible investing
ESG & responsible investing Our commitment • Devise an appropriate risk-return profile for our investments • Deliver value to our investors • Develop sustainable long-term strategies for our portfolio companies Our process • Integrates ESG principles at all stages of investment • Measures the sustai
Slide 20: ESG in investment process
ESG in investment process 1. 2. Due 3. 4. 5. Screening diligence Monitoring Follow-ons Exits • Check company • ESG Due Diligence • Leverage portfolio • Reassess ESG risks and • Support the company activity with exclusion completed pre- company board to opportunities at each in demonstrating to list
Slide 21: ESG within our business
ESG within our business • Monitoring carbon footprint • Future VC, a paid internship offered • Updated ESG approach as part of our investment • Net zero carbon emissions • Fair HQ, working with expert process strategy designed consultancy to establish diverse and inclusive practices • Regular ESG up
Slide 22: Prospects
Prospects • Ongoing macroeconomic and geopolitical uncertainties impacting valuations • Well-balanced portfolio by sector and stage of maturity • Portfolio focus on mission critical products and services, particularly software and healthcare, designed to provide resilience • Limited exposure to disc
Slide 23: Q1 results and shareholder events
Q1 results and shareholder events Shareholder seminar details: • NAV at 30 June 2022 of 130.2p • A decrease of 1.6% for the quarter 23 November 2022 • 2 new investments totalling £1.4m and an Royal College of Surgeons additional £1.3m in follow-ons in Q1 2022 Lincoln's Inn Fields, London • Virtual A
Slide 24: Thank you
Thank you This presentation is for information purposes only and is not to be regarded as an offer to buy or sell, or the solicitation to buy or sell shares in Albion Enterprise VCT PLC. Any person considering an investment should seek advice from an authorised financial advisor. Albion Capital Grou
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