SuperSeed Capital Limited Sale of Garvis

TIDMWWW

SuperSeed Capital Limited

18 September 2023

SUPERSEED CAPITAL LIMITED

("SuperSeed" or the "Company")

Sale of Garvis

SuperSeed Capital Limited (AQSE:WWW, "SuperSeed"), a company established as a venture capital fund of funds for investments in early-stage artificial intelligence and software companies, is pleased to announce SuperSeed II LP ("Fund II") has concluded the sale of Garvis, a visionary SaaS startup that combines large language model technology (as known from ChatGPT) with AI-native demand forecasting.

Garvis has shown remarkable progress since Fund II's initial investment in September 2022. Over the past year, the company has further developed its cutting-edge solutions in the field of artificial intelligence and data analytics, garnering recognition for its industry-disruptive products and services. As a result, Garvis' revenue grew rapidly over the investment period, leading to strong valuation increase and a triple digit IRR on sale of the company. We believe that this strategic move will allow both SuperSeed and Garvis to unlock new opportunities for growth and innovation.

The sale of Garvis illustrates SuperSeed's continued ability to realise value for shareholders through investments in exceptional, high-growth SaaS companies. As stated in the Q2 results , and following Fund II's sale of Techsembly in June which achieved an IRR on investment in excess of 40%, SuperSeed is well-positioned for continued NAV per share growth for the remainder of the financial year and beyond.

Mads Jensen, Managing Partner of the Investment Manager commented:

"This has been a terrific investment for Fund II and it has been a pleasure working with Garvis's management team. We wish them every success moving forward. The sale of Garvis and Techsembly validate our investment strategy of backing great founders leading exceptional businesses operating at the technological frontier of computing, and we are confident of creating much more value for shareholders moving forward.

"SuperSeed remains steadfast in its commitment to delivering value to our investors and supporting the growth of promising startups. We look forward to sharing more exciting developments as we continue to explore new investment opportunities and partnerships."

For more information, please contact:

 
 
   SuperSeed Capital Limited                    [phone] 
 Mads Jensen, Investment Manager 
 
 VSA Capital - AQSE Corporate Adviser and 
  Broker                                        [phone] 
 Corporate Finance: Richard Kauffer / Alex 
  Cabral 
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September 18, 2023 02:00 ET (06:00 GMT)