Octopus Titan VCT plc ("Company")
2 September 2016
Portfolio update
In reference to the publication of the Prospectus and Circular announced on 23 August, Octopus Titan VCT plc announces that on 31 August 2016 the Company had the following investments (listed alphabetically, excluding two companies which are in liquidation):
| Total amount invested at 31 Aug 2016 | Titan investments made in year / period | ||
| Portfolio Investments | Year to October 2015 | 10 month period to 31 Aug 2016 | |
| £'000 | £'000 | £'000 | |
| Adbrain Limited | 4,663 | 1,261 | 1,603 |
| Affectv Limited | 2,627 | - | - |
| Aframe Media Group Limited | - | 2,484 | - |
| Amplience Limited | 5,986 | 2,610 | - |
| Artesian Solutions Limited | 4,838 | 835 | 637 |
| Behaviometrics AB | 502 | - | - |
| Big Health Limited | 3,276 | - | 3,276 |
| Bowman Power Limited | 2,305 | 227 | - |
| BridgeU Corporation | 979 | 979 | - |
| Chronext AG | 797 | - | 797 |
| Conversocial Limited | 4,165 | 673 | 916 |
| CurrencyFair Limited | 4,280 | 2,815 | 1,465 |
| Ecrebo Limited | 2,151 | - | - |
| Elliptic Enterprise Limited | 1,662 | - | 677 |
| e-Therapeutics plc | 2,415 | - | - |
| Eve Sleep Limited | 2,394 | 590 | 1,804 |
| Excession Technologies Limited | 208 | - | 108 |
| Hubbub Deliveries Limited | 1,133 | 101 | - |
| Iovox Limited | 1,738 | - | - |
| Kabbee Exchange Limited | 2,000 | - | - |
| Leanworks Limited (trades as Yplan) | 5,346 | - | - |
| London House Exchange Limited (trades as Property Partner) | 5,175 | 647 | 4,320 |
| Magic Pony Technology Limited | - | 262 | 544 |
| Mailcloud Limited | 327 | 127 | - |
| Metrasens Limited | 2,688 | 197 | - |
| Michelson Diagnostics Limited | 4,469 | 1,234 | - |
| Mi-Pay Group plc | 3,011 | - | - |
| MIRACL Limited | 7,320 | - | 2,722 |
| Origami Energy Limited | 2,033 | - | 1,283 |
| Oxcis Aviation Limited (trades as Stratajet) | 5,614 | 1,645 | 3,968 |
| Permutive Inc. | 391 | 391 | - |
| Phasor Inc. | 250 | - | - |
| Secret Escapes Limited | 4,256 | 947 | - |
| Seedcamp III LP | 110 | 34 | 37 |
| Segura Systems Limited | 700 | - | 700 |
| Semafone Limited | 3,594 | - | - |
| Smartkem Limited | 2,714 | 1,080 | 932 |
| Sofar Sounds Limited | 7,705 | 2,687 | 4,949 |
| Sourceable Limited (trades as Swoon Editions) | 6,957 | 1,846 | 2,928 |
| Streetbees.com Limited | 140 | - | 140 |
| Streethub Limited | 851 | 723 | - |
| Surrey NanoSystems Limited | 1,993 | 403 | - |
| Tailsco Limited | 1,506 | - | 1,313 |
| The Faction Collective SA | 2,429 | - | 147 |
| TouchType Limited (trades as Swiftkey) | - | 1,694 | - |
| Trafi Limited | 800 | 800 | - |
| TrialReach Limited | 1,438 | 263 | 376 |
| UltraSoC Technologies Limited | 7,087 | 1,572 | - |
| Uniplaces Limited | 4,657 | - | 2,125 |
| Wave Optics Limited | 362 | - | 362 |
| Zenith Holding Company Limited* | 14,701 | - | - |
| Zynstra Limited | 5,840 | - | 1,476 |
* Owns a stake in Calastone, Zoopla Property Group, Nature Delivered (Graze) and Secret Escapes
Twenty six portfolio companies are currently being held at a value which is higher than the investment cost (typically due to follow on funding rounds taking place at a higher value). Ten are currently valued at the investment cost. The remaining fifteen are currently being held at a value which is less than the investment cost, including one that has been written off entirely (yet to be realised but already accounted for in the current NAV).
Additionally, since 30 April 2016, there has been a cash outflow of £24 million, resulting in a cash and cash equivalents balance of £90 million at 31 August. This cash outflow comprises £18 million in respect of investments into new and existing portfolio companies, £4 million in respect of committed cash awaiting completion, £5 million in respect of dividends, £1 million in respect of fees paid to Octopus, £2 million in respect of share buybacks and £1 million in respect of other fund expenses, offset by £6 million in respect of disposal proceeds and £1 million in respect of other income.
For further enquiries, please contact:
Jo Oliver
Octopus Investments Limited
0800 316 2295