Draper Esprit PLC was the top riser in the FTSE 350 on Thursday after a positive update on its investments.
The firm, a venture capital business specialising in digital technology businesses, said its net asset value per share was expected to be not less than 885p at the half year, up from 600p a year ago.
The value of its portfolio is set to jump from GBP702mln to GBP1.345bn.
It said the increase reflected new financing rounds at increased valuations for a number of its investments, including Aircall, Revolut, Ledger, Form3, N26 and Aiven.
Cazoo achieved a stock market valuation of around US$8bn, making it the most valuable UK outfit ever to list across the pond; Trustpilot bagged a GBP1bn valuation in London; and UiPath’s near-US$30bn IPO was one of the largest in US software history.
Chief executive Martin Davis said: “We’ve continued to make significant progress over the first six months of the year driven by the strength of our portfolio, our investment team and buoyant market conditions. I am pleased to report realisations have remained strong enabling us to increase our deployment of capital across the portfolio; underpinned by our expanded platform. I feel excited by our performance going into the second half of the year.”