5th Jul 2019 13:10
(Alliance News) - Venture capital firms ProVen VCT PLC and ProVen Growth & Income VCT PLC both said Friday first quarter assets fell compared to three months earlier as major investments struggled and it raised funds.
For the three months ended May, ProVen VCT net asset value per share narrowed to 81.2 pence from 82.2p at the end of February. Total net assets, however, jumped to GBP123.0 million from GBP91.0 million three months earlier.
Total assets performance was helped by cash levels surging to GBP56.1 million from GBP19.9 million three months earlier.
Meanwhile, ProVen Growth & Income VCT net asset value per share narrowed to 67.2 pence from 68.4p at the end of February. Total net assets, however, jumped to GBP121.5 million from GBP99.1 million three months earlier.
Total assets performance was helped by cash levels surging to GBP56.4 million from GBP36.4 million three months earlier.
Earlier in 2019, sister funds ProVen VCT and ProVen Growth & Income VCT launched a GBP80 million share subscription to raise additional funds.
Shares in ProVen VCT were untraded at 75.00 pence in London on Friday, ProVen Growth & Income VCT untraded at 62.00p.
Related Shares:
Proven VctProven Growth