Triple Point VCT 2011 PLC Investment Update (3505E)

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RNS Number : 3505E

Triple Point VCT 2011 PLC

27 February 2020

27 February 2020

Triple Point VCT 2011 plc

(the "Company")

INVESTMENT UPDATE

The Board of Triple Point VCT 2011 is pleased to announce that the Venture Share class (known as The Venture Fund) has completed a further two investments, the ninth and the tenth investments in the share class respectively.

The first of the two investments was a US$900,000 (GBP697,566) Series A investment into Quit Genius, a US-UK digital therapeutics business that combines a phone app, cognitive behavioural therapy and medication to help users quit smoking. The business markets its solution to major corporates and health systems across the United States and UK, including the NHS and MyCare Alabama. Quit Genius will use the funding to continue expanding across the United States and UK.

The second investment was a SEK10,000,015 (GBP799,362) investment into Adfenix, a data-driven marketing automation software provider. Adfenix counts some of the largest estate agency brands in UK, USA, Sweden and Australia amongst its client base. Adfenix will use the funding to launch a new product and continue its expansion across the United States, UK and Australia.

The investments are in line with the Company's investment criteria and risk and return profile.

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

 
 Triple Point Investment Management   Tel: [phone] 
  LLP 
  (Investment Manager) 
 Belinda Thomas 
  Harry Penberthy 
  Seb Wallace 
  Daniel Cardenas-Clark 
  Ian McLennan 
 
 

The Company's LEI is 213800AOOAQA5XQDEA89

Further information on the Company can be found on its website https://www.triplepoint.co.uk/investments/triple-point-venture-fund/s7881/ .

NOTES:

The Company is a Venture Capital Trust incorporated in July 2010. The Investment Manager is Triple Point Investment Management LLP. The Company was established to fund small and medium sized enterprises (SMEs). The Company launched a new share class, known as The Venture Fund, in March 2019 which is mandated to invest in SMEs producing products or digital services that solve challenges faced by their larger corporate customers.

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February 27, 2020 05:27 ET (10:27 GMT)