**Summary of Sure Ventures PLC Interim Results for the Six Months Ended 30 September 2025**
Sure Ventures PLC, an investment company focused on early-stage technology firms in AI, AR/VR, IoT, and Cybersecurity, released its unaudited interim results for the six months ending 30 September 2025. Key highlights include
### **Financial Performance**
**Net Asset Value (NAV) per Share**£1.70, a modest 3% decrease from £1.76 in March 2025, reflecting short-term market fluctuations.
**Significant Liquidity Event**Sale of Visibility Blockchain Limited (Getvisibility) to Forcepoint for a 4.4x cash multiple, resulting in a €1.77 million distribution to Sure Ventures in April 2025.
**Portfolio Performance**Fund I is in its realization phase with notable exits like Getvisibility and Landvault. Fund II continues to build a diversified portfolio of early-stage UK and Irish software companies.
### **Investment Environment**
**Technology Market Resilience**Despite valuation concerns, technology sectors like AI, cybersecurity, and data infrastructure remain robust, driven by long-term growth trends, strong corporate balance sheets, and public investment.
**Venture Capital Trends**Global deal flow has decreased by 35-40%, but capital deployment remains strong, focusing on companies with commercial traction and proprietary AI capabilities.
### **Portfolio Updates**
**Fund I**
€7 million commitmentwith €6.9 million drawn.
Notable exits include Getvisibility (4.4x return) and Landvault (sold to Infinite Reality, now valued at over $12 billion).
Cameramatics continues to perform strongly, positioned for a potential liquidity event.
**Fund II**
£5 million commitmentwith £1.35 million drawn.
Recent investments include Literal Labs, Elelem AI, and Complimind AI, focusing on AI and software.
### **Financial Position**
**Liquidity**Strengthened by the Getvisibility distribution, enabling the company to meet obligations and pursue further investments.
**Gearing**No borrowings outstanding after repaying a loan facility in April 2025.
**Capital Raising**No new share issuance during the period
total shares remain at 7948130.
### **Outlook**
**Fund I**Focus on realizing gains from the remaining portfolio.
**Fund II**Continued deployment of capital into high-growth technology companies.
**Market Confidence**Despite broader market volatility, the company remains well-positioned due to the strength of its focus sectors (AI, AR/VR, IoT, Cybersecurity).
### **Alternative Performance Measures (APMs)**
**Ongoing Charges**2.97% of average NAV.
**Premium/Discount**Trading at a 51.48% discount to NAV.
**Total Return**(3.28%) for NAV and (3.52%) for share price.
### **Management and Governance**
**Investment Manager**Shard Capital AIFM LLP continues to manage the funds, leveraging expertise in deal flow and due diligence.
**Regulatory Compliance**Maintains investment trust status with HMRC approval.
### **Subsequent Events**
A major liquidity event related to Infinite Reality shares is no longer expected, with the company monitoring its impact on portfolio valuation.
Sure Ventures PLC remains committed to its investment strategy, focusing on capital growth and exploring opportunities to create liquidity for shareholders. The company’s exposure to high-growth technology sectors positions it well for long-term value creation.