Draper Esprit听is听to raise 拢111听million听through听a share听placing.听
The tech investor, which sees a 鈥榮ignificant opportunity鈥� in the post-COVID shift towards digitalisation, also plans to move its listing from the AIM growth market of the London Stock Exchange to听the premium main market, with a similar move on the Dublin exchange.听
In addition to the听placing, there will be an offer made by the听company on the听PrimaryBid听platform of up to 603,500 new听ordinary听shares to provide retail investors with an opportunity to participate in the equity fundraise.听听
CEO听Martin Davis听and CFO听Ben Wilkinson intend to participate in the听placing.听
Draper Esprit has deployed more than 拢550m of capital and realised over 拢300m of investments since its IPO in 2016.听
It says听European technology companies are typically remaining private for longer, limiting public investment opportunities, while听investment round sizes are increasing.听听
Some of the best-performing European technology companies, which include examples from the听company’s investment portfolio and pipeline, are increasingly accelerating their fundraising cadence to capitalise on the technological and behavioural trends catalysed by the pandemic.听
Draper Esprit听anticipates increasing its investment cadence to over 拢150m per annum.听It听deployed听拢96m听in the six months to 31 March 2021, and a further 拢48m since听then.听听
“The world has changed significantly over the past year and many of the habits formed during the pandemic will determine how the world operates in the future,鈥� said Davis.听听
鈥淲e believe that technology will transform the way we live and work and with the backing of shareholders, we will be able to accelerate this change by investing in the European entrepreneurs who are building the future.听
“By deploying more capital into our portfolio companies and new investments, taking part in and leading larger rounds and continuing to grow our fund of funds strategy, we will be able to expand our platform even further.听听
鈥淲e can then reward a wider group of investors who for so long have found it hard to invest in fast-growing privately owned technology companies.”听