UK venture capital firm Draper Esprit, which backed fintech star Revolut, expects its gross portfolio value to exceed £1.3bn.
The results, predicted for its interim results for the period ended 30 September, would mark a jump of over half a billion pounds compared to the same period last year when the venture capital firm recorded its gross portfolio value at £702m.
The promising figures reflect new financing rounds at increased valuations for some of the firm’s investments, which include Aircall and Revolut, according to a trading update published today.
Ascribing the results to “buoyant” market conditions, chief executive officer Martin Davis said in a statement that the strong performance would allow Draper Espirit to increase “deployment of capital across the portfolio; underpinned by our expanded platform.”
Draper Espirit will publish its interim results on 29 November.