Tern Share Discussion Threads

[andrbea] 17/4/2024 16:30

Hybridan has published a new research note on:
Tern PLC, SysGroup plc, Corero Network Security plc, Crimson Tide Plc, Crossword Cybersecurity Plc etc.

Hybridan Research: Sector Review: Artificial intelligence in UK cybersecurity: the human uplift 17/04/2024

[jonc] 17/4/2024 16:20

I see Swanny is working his magic at CHLL.

LOL.

[cambradjones] 17/4/2024 16:09

Wait until you have been here a few yrs. Lol

[juliemara] 17/4/2024 16:00

ANYONE ELSE FEEL AS THOUGH THEY'RE BEING LEGALLY MUGGED?

[silversox] 17/4/2024 15:19

Re stentorian's post 34651 about Google launching a VR headset. Interesting to note that FVRs latest board appointment in February was Carlos De Torres Gimeno who currently serves as an executive in Global Partner Ecosystems at Google Cloud overseeing multi billion revenue streams.

[steveberyl] 17/4/2024 14:56

TERN is into Swanny RIBS to some tune & He is on the inside and hanging around.


Holders need to follow suit, Tern will deliver. Patience is still the required commodity.

How many companies drop prior to Lift-Off. Tern is a buy.

[flashheart] 17/4/2024 13:52

There's some significant recurring revenue streams due to come in which the market can't ignore. Wyld is currently valued at a ridiculous 3.5m market cap or thereabouts.

[flashheart] 17/4/2024 13:49

It's got a long way to come back HT but certainly has the capabilities and eventually new highs with all that is happening.

[homtanks] 17/4/2024 13:44

I can imagine AW has been saving up the most meaty news for when these warrants period is over, i can see wyld doubling easily in May mmm

[andrbea] 17/4/2024 13:31

With Google in the mix, Meta & Apple will have to act swiftly, or lose out ;-)

[still waiting] 17/4/2024 13:14

FVR

an auction would be nice !!!

biggest bid secures haptic VR forever..

[bingoprize] 17/4/2024 12:26

That puts pressure on Apple to get some haptics integrated with their VR headset then.
The Apple head set is really a beta tester of what, how and if. Its foundation is pretty brilliant but lack of haptics limits its potential. So our FVR has got to be on the acquisition list, we don’t know what else they have, but if they had a home grown advanced solution in development it’s not out in the field. FVR have a market proven solution, that puts it ahead of anything else out there. The fact it’s been designed to work in the toughest environment of virtual reality and proved it’s worth looks like best bet for anyone wanting haptic VR good to go.

[1choip] 17/4/2024 12:24

Soon back to square 1

[stentorian] 17/4/2024 11:51

Google will be launching a VR headset this summer collaborating with Qualcomm and Samsung to compete with Meta and Apple.

[7rademark] 17/4/2024 11:44

Probably some larger sells in the system as its been NT to sell for most of the day.

[stentorian] 17/4/2024 11:34

Tern are a 5.9% Limited Partner in Sure Valley Ventures Enterprise Capital Fund LP

This has three investments so far:

RETINIZE
JAID
CAPTUR


No mention in the Tern Portfolio update.

I normally shadow Sure Ventures plc's web site as they are a 5.9% Limited Partner too. I posted last September 2023 (below)- I was expecting their Interim Accounts - strangest thing - Sure Ventures plc have not released any RNS' since my post. Not even an RNS announcing their Interim Accounts which were released at Companies House on 24 January 2024! Naughty...

From the Interim Accounts there is a comment at page 9, para 4:

It seems that £445,500.00 has been drawn down against their commitment.

Tern must have drawn down the same amount as their commitments are identical.




"stentorian - 04 Sep 2023 - 12:50:27 - 338838 of 348643 TERN, encrypting the cloud and Internet of Things. - TERN

Sure Valley Ventures Enterprise Capital Fund LP

Tern PLC are a 5.9% Limited Partner in the above. So are Pires Investments PLC and Sure Ventures plc with 5.9% each.

On 23 July 2023, Sure Ventures plc issued their annual report it includes a report on the fund - which they call "FUND II". They provide a lot more information and colour than Tern plc do.

"PORTFOLIO UPDATE – FUND II

In March 2022 the Company announced its commitment of £5m to the Sure Valley Ventures Enterprise Capital Fund. This is a £85m first close launch of a total £95m UK software technology fund, investing in AR, VR and the Metaverse, including AI, IoT and Cybersecurity in investee companies throughout the UK (Fund II). The British Business Bank is the £50m cornerstone investor through its Enterprise Capital Funds programme and it is envisaged that investment in up to 25 software companies will be made during the investment period.

As at the year end, the first portfolio Fund II investments had been made in Retinize, a Belfast-based creative tech company developing an Animotive software, harnessing VR technology to transform the 3D animation production process. An investment in Jaid was also made which is an innovative technology company providing AI-powered human communications solutions. As at the year end 5% of total commitments had been drawn and the pipeline for new investments remains extremely healthy.

Further information on the investment portfolio is provided in the report of the Investment Manager which follows this statement...

THE INVESTMENT ENVIRONMENT
...
The initial investments identified for Fund II, and the varied deal pipeline that has been identified is also particularly pleasing.
...
OUTLOOK

Fund II is at the early stage of the investment cycle and the investment team is encouraged not only with the quality of its first investments, but with the deal pipeline that has developed.

...
INVESTMENT MANAGER REPORT
...
SURE VALLEY VENTURES ENTERPRISE CAPITAL LP

Sure Valley Ventures Enterprise Capital Fund LP is a close-ended UK based GP/LP Fund which completed its first close on 1 March 2022. The total commitments for this first close were £85m. The British Business Bank are the cornerstone investor of this Fund, committing £50m of the initial £85m, with Sure Ventures plc committing a total of £5m.



Fund II has a similar investment strategy to the first Fund, being a seed capital investor in high growth software companies that are focused on bringing a disruptive innovation to market. It plans to invest into 25 software companies from across the UK through its new fund. As well as being based in London, Dublin, and Cambridge, the Sure Valley team has recently opened an office in Manchester to help access deals in the significant and exciting innovation clusters that have developed around creative technologies in the North of England and in the Metaverse and AI opportunities in cities such as Manchester, Leeds, Sheffield and Newcastle.



As at 31 March 2023, the Fund had drawn down a total of £4.25m and has made its first two investments into a Belfast based company called Retinize, for an amount of £1m and a London based company called Jaid t/a Opsmatix Limited for £1m with the option to invest a further £350k. The total invested capital to date for Sure Ventures plc was £250,000.

"