Draper Esprit PLC Trustpilot Group plc confirms intention to float (4657R)

TIDMGROW

RNS Number : 4657R

Draper Esprit PLC

08 March 2021

Draper Esprit plc

("Draper Esprit", "the Group" or the "Company")

Trustpilot Group plc confirms intention to float

Draper Esprit (LSE: GROW, Euronext Growth: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, notes the announcement this morning from Trustpilot Group confirming its intention to undertake an initial public offering ("IPO").

Draper Esprit first invested in Trustpilot in 2013 and has since increased its holding through a combination of secondary acquisitions and participation in follow on rounds. The Company's total investment to date has been GBP29.7 million and as of our interim results to 30 September 2020 the holding was valued at GBP80.9 million.

Draper Esprit will update the market further at the conclusion of the IPO process.

-ENDS-

Enquiries

 
Draper Esprit plc 
 Martin Davis (Chief Executive Officer) 
 Ben Wilkinson (Chief Financial Officer)   [phone] 
Numis Securities 
 Nominated Adviser & Joint Broker 
 Simon Willis 
 Richard Thomas 
 Jamie Loughborough                        [phone] 
Goodbody Stockbrokers 
 Euronext Growth Adviser & Joint Broker 
 Don Harrington 
 Charlotte Craigie 
 Dearbhla Gallagher                        [phone] 
Powerscourt 
 Public relations 
 Elly Williamson                           [phone] / 
 Donjeta Miftari                            [phone] 
 

About Draper Esprit

Draper Esprit is one of the most active venture capital firms in Europe, investing in disruptive, high growth technology companies. We believe the best entrepreneurs in Europe are capable of building the global businesses of the future. We fuel their growth with long-term capital, access to international networks and decades of experience building businesses.

Currently, Draper Esprit is a shareholder in a diverse portfolio of 67 companies with 15 of those part of our core portfolio which accounts for over 60% of our holdings. Our core companies include Trustpilot, UiPath, Aircall, Graphcore and Revolut. We invest across four sectors: Consumer Technology, Enterprise Technology, Hardware and Deeptech, and Digital Health and Wellness, with highly experienced partners constantly looking for new opportunities in each. We look for high-growth companies with strong IP, powerful technology, and the management teams to deliver success. They operate in new markets, with serious potential for global expansion. We also look for businesses with the potential to generate strong margins to ensure rapid, sustainable growth in substantial addressable markets.

Draper Esprit provides an opportunity for public market investors to access these fast-growing tech businesses, without having to commit to long term investments with limited liquidity. Since IPO in June 2016, we have deployed circa GBP450m+ capital into fast growing technology companies and have realised over GBP210m. In October 2020 we raised gross proceeds of circa GBP110m to help us capitalise on a European VC market which is expanding rapidly but is still less than one quarter of the combined size of the US and European market by value. It will also allow us to capitalise on the transition to a digital future that has been given added impetus as a result of the recent pandemic.

For more information, go to https://draperesprit.com/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCKVLBBFXLBBBL

(END) Dow Jones Newswires

March 08, 2021 04:06 ET (09:06 GMT)