Albion Crown Vct Plc · LSE:CRWC
Albion Crown Vct — Shareholder Meeting (November 2024)
23 slides from Albion Crown Vct's shareholder meeting presentation, Nov 19, 2024
Slide 1: Albion Crown VCT PLC Manager Presentation
Albion Crown VCT PLC Manager Presentation November 2024 Results for the year to 30 June 2024
Slide 2: Financial Summary – Year to 30 June 2024
FINANCIAL SUMMARY – YEAR TO 30 JUNE 2024 0.68p 2.05% 1.61p 32.20p 101.99p Increase in total Total tax-free dividends Shareholder return for Net asset value Total shareholder value shareholder value per share paid during the year ended 30 June per share as at per share from launch to per share for th
Slide 3: Background
BACKGROUND • Continued global macro and geo-political uncertainties • Elevated interest rates impact corporate budgets • Portfolio focus on mission critical products and services is designed to provide resilience • An encouraging return for the year despite challenging market conditions • The Sunset
Slide 4: Performance Data
PERFORMANCE DATA 72.5% 25.4% 11.1% 2.0% Past performance is not a guide to future performance 4
Slide 5: Highlights in the Year
HIGHLIGHTS IN THE YEAR 2023 2024 Notes Fundraising £11.2m £7.3m Including sale of Ophelos and part disposal of Exits £0.7m £2.8m Quantexa £4.6m in 10 new companies and £4.8m into the Investment rate £7.9m £9.4m existing portfolio Share buybacks £2.4m £2.6m Dividends £4.2m £4.5m In line with 5% divid
Slide 6: Key Value Drivers in the Year
KEY VALUE DRIVERS IN THE YEAR 2024 Notes Quantexa £3.9m Continued strong growth Egress £1.2m Sale completed on 1 July 2024 returning over 7x on cost DCF valuation impacted by higher discount rates and Chonais River Hydro (£1.0m) lower forecast power price assumptions PeakData (£0.7m) Impacted by mac
Slide 7: Portfolio Analysis by Value
PORTFOLIO ANALYSIS BY VALUE Sector breakdown Portfolio of 66 companies employing c. 4,600 people predominantly in the UK Cash and net assets 20% (28%) FinTech 31% (28%) Software & other technology 19% (13%) Healthcare (including digital healthcare) 19% (17%) Renewable energy 6% (8%) Other (including
Slide 8: Portfolio Analysis by Value
PORTFOLIO ANALYSIS BY VALUE Stage of investment (revenue generation) Number of employees Under 20 6% (5%) Early stage (revenue less than £1 million) 7% (8%) 21 – 50 18% (13%) Growth (revenue between £1 million and £5 million) 18% (22%) 51 – 100 15% (19%) Scale up (revenue over £5 million) 75% (70%)
Slide 9: Top 3 Account for 29.9% of the NAV at 30 June 2024
TOP 3 ACCOUNT FOR 29.9% OF THE NAV AT 30 JUNE 2024 Investment Cost Book value Revenue Employee date £000 £000 growth growth Uses the latest advances in big data analytics and artificial intelligence to help 2017 1,776 19,699 >50x 30 to c.750 its financial services and government customers detect fin
Slide 10: Investment Strategy
INVESTMENT STRATEGY Seed to Series B Backing Focus on Target (early stage long-term business-to- software and to growth) trends business healthcare solutions 10
Slide 11: New Investments
NEW INVESTMENTS £1.0m £0.7m £0.5m £0.5m £0.4m AI enabled platform AI agent management Communication Multi-sided Platform that digitises providing insights on platform for regulated platform for the marketplace for the workflows of nature-based assets industries asset management the EV ecosystem comm
Slide 12: New Climate Tech Investment: Treefera
NEW CLIMATE TECH INVESTMENT: TREEFERA 1 • Treefera’s platform integrates satellite, drone and ground truth data at huge scale with cutting-edge AI An AI-enabled data algorithms, to provide continuous management monitoring, assurance and risk platform providing evaluation of nature-based assets trans
Slide 13: New AI/Data Investment: OpenDialog
NEW AI/DATA INVESTMENT: OPENDIALOG 12 • OpenDialog allows organisations to create and deploy AI powered chatbots OpenDialog provides and virtual assistants in a no-code environment, to allow for conversational an AI agent experiences with customers and management system employees across a variety of
Slide 14: Follow-ons
FOLLOW-ONS £0.6m £0.6m £0.6m £0.5m Provider of cyber security Gravitee Topco (T/A Provider of automated A cloud platform and platform Gravitee.io) is an API software testing and an infrastructure that enables management platform enhanced learning corporates to issue digital experience for artificial
Slide 15: Realisations: Ophelos
1 REALISATIONS: OPHELOS • Using machine learning to create a new standard for how organisations manage customer debt - ethically and efficiently • Acquired by Intrum AB (Swedish listed) £0.5m 2.1x £1.1m Invested by CRWN Cash on cash multiple CRWN VCT proceeds 15
Slide 16: Realisations: Partial Sale of Quantexa
12 REALISATIONS: PARTIAL SALE OF QUANTEXA • Data and analytics company pioneering contextual decision intelligence • Partial sale reduces concentration risk • Sold to experienced financial investors through their investment vehicles managed by Albion £125k 9.4x £1.2m Weighted average Cash on cash mu
Slide 17: ESG at Albion
ESG AT ALBION ENVIRONMENTAL SOCIAL GOVERNANCE • A new platform, Greenly, has • Fair HQ results recognise we • Improvement in female presence been deployed to calculate our have diversity in our team on portfolio companies’ boards emissions • Two ongoing, high impact social • Increased number of comp
Slide 18: Streamlining Our VCTs – Merger Proposals
STREAMLINING OUR VCTS – MERGER PROPOSALS • Meaningful reductions in management and administration fees • Same fee structure for all VCTs Albion Development Albion Enterprise VCT VCT • Reduction in administration and simplification through holding investments in fewer companies Albion Technology Albi
Slide 19: Top-Up Offers 2024/2025
TOP-UP OFFERS 2024/2025 • Opens 6 January 2025 Albion Albion Albion Crown • Minimum £6k and £2k per VCT Technology VCT Enterprise VCT & General VCT • Early bird discount for first £10m in aggregate of cleared funds £10m £20m £20m • This is a prospectus advertisement. Your £10m over- £10m over- £10m
Slide 20: Electronic Voting
ELECTRONIC VOTING • Online voting is quick and simple • Notification emails have been sent for the merger general meetings and the AGM with full instructions • Two options: 1. Before the AGM via notification email or visit www.investorcentre.co.uk/eproxy 2. During the meetings via the Lumi platform
Slide 21: Prospects
PROSPECTS • Focus on mission critical products and services, designed to provide resilience • Limited exposure to discretionary consumer facing sectors • Ongoing uncertainties but potential for longer term returns as portfolio matures • Well-balanced portfolio across target sectors 21 21 21
Slide 22: Q1 Results & Events
Q1 RESULTS & EVENTS • NAV at 30 September 2024 of 31.47p • Decrease of 2.3% compared to the 30 June 2024 NAV • Reflects movements across many portfolio companies, with valuation declines outweighing increases • First dividend of 0.81p (2.5%) per share payable on 29 November 2024 • The well attended
Slide 23: Thank you
Thank you This presentation is issued by Albion Capital Group LLP for information purposes only. Any person considering an investment should seek advice from an authorised financial advisor. Albion Capital Group LLP does not offer investment advice or make investment recommendations, nor offer tax a
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