VENTURE capital firm Oakley Capital Investments said its full-year net asset value per share rose over 26 per cent and that it would focus on investments in the IT services sector in 2010.
Oakley, which focuses on mid-market Western European businesses, has total funds of £247m and £166m left to be invested, according to director Peter Dubens.
He said: “We see nervousness about growth in 2010. But we like the IT sector, where we still see growth as demand for broadband and higher speed internet continues.”
According to Edison Investment Research analyst Matthew Read: “Oakley is sitting on a very large pool of funds that are not committed yet. Under the current climate, there will be a lot more opportunities and it will be one of the few funds that will be in a strong position over the next 12 months.”
At the end of 2009, Oakley Capital had net asset value in the range of £1.37 to £1.42 per share. The Bermuda-based company’s shares were up eight per cent at 104.9p yesterday on the London Stock Exchange.