12th Aug 2025 12:34
(Alliance News) - TMT Investments PLC on Tuesday said it is well positioned to continue making investments despite noting ongoing market and political volatility.
The Jersey-based venture capital investor in high-growth technology companies said net asset value per share rose 3.8% to USD6.80 as at June 30 from USD6.55 at December 31, 2024.
The rise in NAV was driven by upward revaluations of Bolt Technology, Scale AI Inc and Rhinocom Inc, and a "significant" positive currency exchange impact at period-end, TMT said.
Bolt is a ride-hailing and food delivery service, Scale AI is a data labelling company for the artificial intelligence industry, and Rhino is a provider of armoured car rides in Latin America.
TMT's cash and cash equivalent reserves edged up 1.9% to USD5.3 million at the end of June from USD5.2 million at the end of 2024.
Executive Director Alexander Selegenev said: "The majority of TMT's portfolio companies continue to demonstrate good business progress and are adapting well to the challenges of the current environment. Despite the reduced revenue growth rates for some investees in this environment, many of them have managed to reach either profitability or positive operating cash flow levels."
Looking ahead, he said: "Despite the ongoing market and political volatility, investors continue to invest in high-quality technology businesses at appropriate valuation levels. TMT is continuing to identify such opportunities selectively, whilst employing a generally very cautious investment approach. With no financial debt and strong cash and cash equivalent reserves, TMT is well positioned to not only ride out the current market volatility, but also continue making investments and realising full and partial disposals when the right opportunities present themselves."
TMT shares were 1.7% higher at USD2.98 each on Tuesday afternoon in London.
By Tom Budszus, Alliance News slot editor
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