Strong Portfolio Developments
Four out of the top five holdings showed encouraging developments, including the successful IPO of Hinge Health, which marked a 50x overall return on investment, and Oxford Nanopore beating city expectations.
Increased Cash Proceeds
Recorded total cash proceeds of GBP 30 million, 9x what was seen in the first half of 2024, contributing to a strong balance sheet with GBP 237 million in gross cash.
Commitment to Shareholder Returns
Strong share buyback program, retiring 15% of capital in issue, contributing to an increase in NAV per share to GBP 1.
Positive Market Contributions
Public markets contributed positively to fair value, with notable IPOs and trading performances enhancing portfolio value.