The venture capital firm, which invests in European companies, has significantly accelerated its investment pace in the last year.
Draper Esprit, the Dublin and London-listed venture capital firm, now has more than € 1 billion in assets under management, according to its annual report.
The report, which covers the year ended March 31, 2021, shows that the company now has a gross portfolio value of 984 million pounds, more than 280 million pounds from the previous year.
He had cash realizations of £ 206 million with £ 267 million in after-tax earnings.
Draper Esprit invested approximately £ 128 million over the 12-month period, primarily in Series B rounds in companies in the growth and early growth phases. Of that money, £ 51 million was invested in startups with £ 34 million in subsequent investments and £ 43 million in fund of funds.
He led rounds at companies such as the Riverlane quantum computing team, contributed to the Freetrade bumper round, and bolstered his stake in Revolut.
Investment activity during the year accelerated especially in the second half.
During the year, the firm had some notable exits, including the public listing of the Cazoo online car market and the sale of its stake in Wise, the former TransferWise.
The report covers Martin Davis’ first full year as CEO of Draper Esprit while the economic shocks of Covid-19 were being felt.
“Despite the market impact in the first half, our scale and maturity gave us room to focus on the needs of our portfolio companies and structure ourselves for growth,” Davis said.
“Our close relationship with our portfolio and knowledge of the industry allowed us to accelerate the digital transformation catalyzed by the pandemic. Our investment team increased its pace in the second half, deploying significant funds in existing and new portfolio companies, as intended when we raised capital in October.
Draper Esprit’s investment pace hasn’t slowed as it entered its next fiscal year, investing in significant rounds in drone delivery player Manna and Ledger, French crypto hardware firm.
“We look to the future with the confidence that our model positions us well for opportunities in a transformed world.”