NetScientific "well positioned for growth" when venture capital market turns
October 04, 2023 at 04:18 am EDT
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NetScientific PLC (AIM:NSCI) CEO Dr Ilian Iliev speaks to Thomas Warner from Proactive after the investment and commercialisation group published its interim results for the six months ended 30 June 2023.
Dr Iliev provides some context for the half-year results, saying that the company has been working hard and focusing on executing its strategy in what has been a "difficult period" for venture capital. He goes on to give an overview of the half-year results, saying that he's "happy to report strong progress in the first half of the year" and highlighting the realisation of "roughly £800,000 in profitable partial exists from the portfolio" during the period.
He addresses how the challenges affecting the wider venture capital sector are playing out at NetScientific and expresses confidence in what the company calls its "evergreen" strategy, saying that its "well positioned for growth when inevitably the cycle turns around... we are not venture capital tourists - this is what we do on a daily basis and we are positioning ourselves for the inevitable turnaround."
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NetScientific plc is a United Kingdom-based deep tech and life sciences venture capital (VC) investment group with an international portfolio of innovative companies. The Company identifies, invests in, and builds high growth companies in the United Kingdom and internationally. It employs a capital-light investment approach, making use of its balance sheet and syndicating investments through its wholly owned VC subsidiary, EMV Capital Limited. The Company secures a mixture of direct equity stakes and carried interest stakes in its portfolio of companies, creating a structure that can support a large portfolio. Its portfolio consists of a combination of direct investments and capital under advisory (CUA). The Company has about 24 portfolio companies with a focus on life sciences, technology, and sustainability. The Company's subsidiaries include EMV Capital Limited, Glycotest, Inc., and ProAxsis Limited, among others.