Tern Makes Investment in Sure Ventures

The investment firm said the transaction represents approximately 2.7% of Sure Ventures’ equity following the completion of a £275,000 fundraising by the venture capital fund.

Sure Ventures focuses on early-stage software companies in Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), and IoT sectors.

Listed on the London Stock Exchange’s Specialist Fund Segment, it reported a net asset value of 139 pence per share as of September 30, 2024, and a market capitalisation of £6.27 million at year-end 2024.

Tern’s investment is expected to provide exposure to Sure Ventures’ holdings in Sure Valley Ventures Fund (SVV1) and Sure Valley Enterprise Capital Fund (SVV2).

Sure Ventures’ principal investments are a 25.9% interest in Sure Valley Ventures Fund and an approximate 6% interest in Sure Valley Enterprise Capital Fund. Tern already has a direct 5.9% interest in SVV2.

Tern expects to gain access to income from potential future distributions by Sure Ventures, including returns from already announced liquidity events.

Admission of the new Sure Ventures shares to trading is expected around January 8, 2025.