Backed by Valley veteran Tim Draper, this listed VC firm looks for European startup opportunities. They’ve invested in companies like Crowdcube, Revolut and Transferwise.
No, they are a VC.
Also worth knowing if people were unaware, Draper invested in freetrades series A vc round.
Has anyone else who missed a lot of the early Freetrade Crowdfunding (and who wishes they’d put in more in the later rounds) considered buying Draper Espirit as a way to capitalise on the growth of Freetrade?
I began doing this last month. Also benefit from the diversification of their portfolio. I felt we’d see an uplift in Draper Esprit’s NAV beyond what was reflected in the share price.
I bought some GROW, not just because of Freetrade, but to get a small amount of exposure to a lot of other early stage companies.
It’s more than doubled since I bought in, so I’m pretty happy I did
I’ve just started this too, it’s nice to have a bit of a stake in freetrade even if it is indirectly. Also they’re in investments in TransferWise (I believe they’ve sold this now but I’m not sure), Revoult as well as obviously freetrade point to a decent track record.
Is there any estimate of what % of their company/portfolio that FT represents for them?
They invested $7.5m (£5.8m) in the Series A. The most recent portfolio update was for the interim period ending September 2020, where Gross Portfolio Value was given as £702m. Since then there have been an unknown double digit investment in Primary Bid, two investments in Graphcore and Coachhub totalling $14m (£20.6m), as well as investments in Endomag and Agora totalling £17m. Their UIPath investment also appreciated £78m. So rough GPV at the moment is £830m. Their investment in FT should have appreciated approx. 210% since then so approx. worth £18m now. So the answer is 2.2%, although you should wait for the final results - the investment is now probably large enough to make it to their core portfolio and therefore included in the breakdowns.
£4.0 million into stock investing app, Freetrade, with £3.0 million from EIS and VCT funds, as part of its Series A round;
from their Final results for the year ended 31 March 2020 update.
Draper Espirit’s investment was split between the PLC, EIS, and their VCT.
Investment was towards the end of 2019 at around 95p a share, since then the share price has increased 3.96x. So based on that the PLC holds about £15.87m worth of Freetrade shares.
I would also imagine they’re getting in on the funding coming this year too so that amount may increase even more. Could honestly be a smart long-term investment , cause all being well FT IPO down the line would be huge for them
RNS on the Trustpilot IPO
Even more interestingly, Sam has confirmed Draper were included in Freetrade’s Series B
Listed Venture Capital
Yes! Look this company up guys.
Good way to get diversified exposure to European VC, less risky than making investments on Crowdcube or AIM!
Trading significantly below NAV according to latest reports.
Why was this so heavily down today compared to the market?
Probably because it’s on AIM. AIM stocks have been getting battered today.
Liking the fundamentals of Draper Esprit. Their market cap is only 499.46M and yet their assets are 624M (including 50M cash!).
Really like their pipeline in terms of future exits too.
Still the case Nice NAV/share growth too.