Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Draper Esprit: Cazoo holding appreciates by 40% since March valuation
There’s an investment update out from Draper Esprit [LON:GROW] this morning. The VC firm counts a holding in Cazoo as part of its portfolio, which it notes has appreciated by 40% since the March 2021 valuation. Its stake in payments provider platform Form3 has also appreciated well over the summer, more than trebling in value in that time.
#2. Accsys Technologies on target to meet full year expectations
Accsys Technologies [LON:AXS] is an AIM listed firm that combines chemistry and technology to create high performance, sustainable wood products. (I had the fascia boards on my house replaced in the company’s Accoya product as apparently it doesn’t rot). They have published a trading update today, covering the five months to August 31st ahead of today’s AGM. The company notes sales are up 22% from the same period two years ago and that average selling prices are higher, too. The company remains on target to meet full year expectations and by 2025 hope to have increased production five-fold. Inventory levels have been impacted by the supply chain problems but don’t appear to have caused any major disruption.
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#3. TMT Investments revising its NAV 3.5% higher
Another VC company providing an investment update this morning is TMT Investments [LON:TMT]. Disposals mean that the company is revising its NAV 3.5% higher from the level stated at the end of June. Shares have more than trebled in value over the last 12 months and with $11m cash in hand, the company continues to look at fresh investment opportunities