21st Nov 2019 14:54
(Alliance News) - Pires Investments PLC said Thursday it has completed its initial investment into the venture capital fund Sure Valley Ventures.
The company said it has completed initial investment of GBP1.1 million and now has 13% interest in Sure Valley Ventures, which invests in private software start-ups in the augmented reality and virtual reality industry.
Back in September Pires said it was seeking shareholder approval to extend its investment policy to include the technology sector, namely by proposing an investment into Sure Valley Ventures.
Peter Redmond, chair, said: "We are very excited about the prospects of a number of the companies within the SVV portfolio and look forward to updating shareholders as they continue to make progress."
Pires shares were down 1.7% in London at 1.97 pence each on Thursday afternoon.
By Loreta Juodagalvyte; [email protected]
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