Seneca Growth Capital VCT plc (SVCT) · LSE:SVCT
Seneca Growth Capital VCT plc (SVCT) — Seneca Growth Capital VCT — Investor Presentation (April 2022)
27 slides from Seneca Growth Capital VCT plc (SVCT)'s investor presentation, April 2022
Slide 1: Investor Update Presentation
Investor Update Presentation April 2022
Slide 2: Important Notice
Important Notice The following presentation, including a hard copy of these slides/the talks given by the presenters, the information to update the Presentation or to correct any inaccuracies in, or omissions from the Presentation which may become communicated during any delivery of the presentation
Slide 3: Welcome – Today’s Speakers
Welcome – Today’s Speakers John Hustler Richard Manley Matt Currie VCT Director VCT Director Investment Director and Chairman CEO Seneca Partners Limited Seneca Partners Limited 3 Investor Update Presentation April 2022
Slide 4: Housekeeping
Housekeeping Questions can be submitted to enquiries@senecavct.co.uk Audio Q&A Recording Troubleshoot During this presentation Questions are encouraged and we This presentation is being If your video stream freezes attendees will be in have a Q&A slot at the end to recorded and will be available dur
Slide 5: Company Overview
Company Overview Questions can be submitted to enquiries@senecavct.co.uk Company name Seneca Partners Launched the Launched the B changed from Limited appointed Ordinary share Share class in Hygea vct plc to Investment class in 2001 2018 Seneca Growth Manager Capital VCT Plc Ordinary Share Pool B Sh
Slide 6: The B Share Pool
The B Share Pool
Slide 7: Introduction
Introduction Upon launch of the B share pool in 2018, Seneca's short to medium term aims were to: Scale the AUM Establish early Build a diverse Establish dividend track record of portfolio of attractive track record and profitable exits AIM quoted and maintain a relatively private company stable NAV
Slide 8: B Share Total NAV
B Share Total NAV (£) Questions can be submitted to enquiries@senecavct.co.uk 14.6 14.0 12.0 • We have seen positive momentum in our fundraising since launch 10.0 £million 8.3 8.0 • Achieving scale is crucial as it allows us to diversify the investment 5.9 6.0 portfolio and reduce investment risk 4.
Slide 9: B Share Portfolio Composition
B Share Portfolio Composition Questions can be submitted to enquiries@senecavct.co.uk Number of Investee Companies B Share Portfolio by Company Type 20 18 • We have moved quickly to build a diversified portfolio of investments 16 Number of companies with a current portfolio of 19 14 investments 12 •
Slide 10: B Share Portfolio – Sector Exposure
B Share Portfolio Questions can be submitted to enquiries@senecavct.co.uk Sector Exposure • Our investment portfolio is not only diversified by AIM v Private but also by sector exposure • Life Sciences has grown to become our largest sector exposure driven by the addition of investments since Jan 20
Slide 11: B Share Portfolio – Exit Track Record
B Share Portfolio Questions can be submitted to enquiries@senecavct.co.uk Exit Track Record Establishing a strong exit track record is key as it: The key stats from launch to 31 March 2022 Generates profits to cover VCT running costs and support our dividend ambitions 3 £3.3m full exits sale proceed
Slide 12: B Share Portfolio – Dividend Track Record
B Share Portfolio Questions can be submitted to enquiries@senecavct.co.uk Dividend Track Record 10 9 8 • Availability of existing distributable 7 Dividend paid (p) reserves and profits generated from 6 exits have supported 5 o Annual dividends of 3p o Cumulative dividends of 9p 4 3 • Our aspirations
Slide 13: B Share Portfolio – Total Return
B Share Portfolio Questions can be submitted to enquiries@senecavct.co.uk Total Return 120 • Our investment performance to date 100 Total Return per B Share (p) has allowed us to: o Pay cumulative dividends of 9p 80 o Whilst maintaining a relatively stable NAV per B share 60 • This has resulted in T
Slide 14: The B Share Pool – Investee Company Profiles
The B Share Pool Investee Company Profiles
Slide 15: B Share Portfolio – 2021 in Focus
B Share Portfolio Questions can be submitted to enquiries@senecavct.co.uk 6 new AIM quoted investments 1 private company investment £4.5m deployed £5.7m raised during 2021 2021 in Focus 1 full exit realising £264k return of 1.8x 3 partial exits realising £1.7m return of 2.3x 3 investments made in Q1
Slide 16: Investee profile: wound care specialist
1st Investment Date: January 2021 | Investment Amount: £500k 2nd Investment Date: November 2021 | Investment Amount: £250k What they do Clinical stage wound care specialist developing a new-to-market product, Aurase, a gel-based offering that efficiently and gently heals wounds The product has progr
Slide 17: Investee profile: Aptamer drug development services
Investment Date: December 2021 | Investment Amount: £580k What they do Leading drug development service provider for research organisations, diagnostic and therapeutic businesses, and leading pharma organisations Develops molecular binders, Aptamers, that are used instead of and are more effective t
Slide 18: Notable Company Progress in 2021
B Share Portfolio Questions can be submitted to enquiries@senecavct.co.uk Notable Company Progress in 2021 Queue management Battery technology AIM IPO raising £20m to Continues a strong software solution boosted spinout from University develop suite of clinical bounce back from by Covid of Sydney st
Slide 19: B Share Pool Current Investment Pipeline
B Share Pool Current Investment Pipeline Questions can be submitted to enquiries@senecavct.co.uk Diverse spread of sector focus covering online retail, transport & logistics, technology Preference for later An element of stage investment off market deals opportunities A buoyant pipeline Mix of AIM L
Slide 20: The Ordinary Share Pool
The Ordinary Share Pool
Slide 21: Ordinary Share Pool Overview
Ordinary Share Pool Overview Questions can be submitted to enquiries@senecavct.co.uk Net Assets as at 31 December 2021 £3.2m Cash 10% 5 Unquoted investments (3 of which written AIM quoted 7% down to zero) Ordinary Share (Scancell) Asset 60% Exposure 31/12/2021 23% AIM quoted (Arecor) 21 Investor Upd
Slide 22: Ordinary Share Pool Overview – Key Themes
Ordinary Share Pool Overview Questions can be submitted to enquiries@senecavct.co.uk Two key themes in the year to December 2021 1 2 NAV increase during the year Continuing return of cash to shareholders NAV per Ordinary share increased by 8.7p Dividend of 4p per Ordinary share paid in 2021 funded v
Slide 23: Company Outlook & B Share Offer
Seneca Growth Capital VCT Company Outlook & B Share Offer
Slide 24: Offer for B Shares
Offer for B Shares Why consider an investment in the current B share offer? Track record of consistent 46% of B Share NAV* Diversified investment dividends and existing represented by cash portfolio distributable reserves *as at 31 December 2021 Experienced growth capital Stable NAV and investment m
Slide 25: Offer for B Shares Remains Open
Offer for B Shares Remains Open Key Dates 2022/23 Tax Year Investment Application Deadline To qualify for the 1.5p per B share dividend announced payable on 20 May Midday on 29 April 2022 2022 Current Offer closes Midday on 24 October 2022 Initial fee discounts are available: Please contact Siobhan
Slide 26: Q&A
Q&A Please send your questions to: enquiries@senecavct.co.uk
Slide 27: Investor Update Presentation
Investor Update Presentation April 2022 Thank you for joining us Any enquiries regarding the Offer please contact us on 01942 295 981 or email siobhan.pycroft@senecapartners.co.uk
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