LONDON (ShareCast) - (Sharecast News) - Venture capital firm Draper Esprit saw its interim net asset value per share rise throughout the first half of its trading year thanks to its continued efforts to "successfully execute its strategy", as it remains "mindful" of Britain's fast approaching exit from the European Union.
The AIM-listed tech-focused investment company's net asset value per share shot up 27% year-on-year to 454p. Net assets increased 75% overall to £449.9m.

Earnings per share increased from 26p to 39p.

The London-based group said its increased assets were a result of the firm's "positive portfolio performance", particularly its core portfolio, as well its £115m equity raise back in June.

Draper Esprit's gross primary portfolio value increased by 45% to £354m as the likes of Trustpilot, Graphcore, Lyst and Ravenpack saw valuation increases.

Positive FX movements also contributed £10.1m to fair value gains in the six months ended 30 September.

Chief executive Simon Cook, said: "The company continued to successfully execute the strategy of providing early and growth-stage technology companies with the capital, network, and support they need to pursue their global growth plans. We remain on course to exceed our stated objective of a portfolio return of 20% per annum for the full year, with a 20% fair value increase delivered in the six months period."

Draper Esprit assured investors that it was "mindful" of the prevailing market backdrop and remained committed to maintaining a "prudent approach" to investing ahead of Brexit and highlighted that the ability of UK-based companies to access the "best and brightest" talent from around the world "remains critical".

As of 1200 GMT, Draper Esprit shares had picked up 2.64% to 544p.

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