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Investment Update

23rd Sep 2020 07:00

RNS Number : 7842Z
Triple Point VCT 2011 PLC
23 September 2020
 

23 September 2020

 

Triple Point VCT 2011 plc

(the "Company")

INVESTMENT UPDATE

The Board of Triple Point VCT 2011 is pleased to announce that the Venture Share class (known as The Venture Fund) has completed its 13th, 14th and 15th investments.

An investment of £150,000 was made into 3D imaging and software business Artificial Artists. Set up by senior visual effects experts, Artificial Artists makes CGI cheap and easy-to-use for brands and marketing agencies. Their cloud-based product, 3DCTRL, is a live animation and editing tool that allows users to adjust CGI marketing assets in real time. The tool empowers marketing agencies to create visual effects in house, rather than using expensive external studios, and allow brands to edit assets quickly and easily.

An investment of £150,000 was made into Veremark, a background checking company using proprietary technology to dramatically decrease the time it takes to complete verification checks. Traditionally, checks are done as part of an employee recruitment process. They are often time-consuming, manual and expensive, with over 40 human touch points. Veremark automates the background checking work flow, to offer a product with a quicker turnaround time and better experience than competitors on the market.

An investment of £500,000 was made into a business which provides businesses with a toolkit to encrypt sensitive data, so that the data can be shared inside and outside an organisation based upon the access rights of a user, significantly reducing the likelihood of data breaches. The company's toolkit automates data privacy, protection and governance and allows company data protection policies to be customised on an individual user basis. Typically, personal data sits in silos within organisations, and is manual and costly to maintain and inconsistently protected and accessed.

The investments are each in line with the Company's investment criteria and risk and return profile.

 

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

Triple Point Investment Management LLP

(Investment Manager)

Tel: 020 7201 8989

Belinda Thomas

Harry Penberthy

Seb Wallace

Daniel Cardenas-Clark

Ian McLennan

 

 

 

The Company's LEI is 213800AOOAQA5XQDEA89

 

Further information on the Company can be found on its website https://www.triplepoint.co.uk/investments/triple-point-venture-fund/s7881/.

 

NOTES:

The Company is a Venture Capital Trust incorporated in July 2010. The Investment Manager is Triple Point Investment Management LLP. The Company was established to fund small and medium sized enterprises (SMEs). The Company launched a new share class, known as The Venture Fund, in March 2019 which is mandated to invest in SMEs producing products or digital services that solve challenges faced by their larger corporate customers.

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