TIDMPIRI

Pires Investments PLC

25 November 2021

25 November 2021

Pires Investments plc

("Pires" or the "Company")

Update re Sure Ventures plc portfolio

Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to note the announcement made on 25 November 2021 by London-listed venture capital fund Sure Ventures plc ("Sure Ventures"), providing an update on its investment portfolio during Q3 2021.

Sure Ventures has a 25.9% interest in Sure Valley Ventures ("SVV"), a venture capital fund focused on investing in the software technology sector with a specific focus on Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data. Pires has a combined direct and indirect (via its 24.9% shareholding in Sure Ventures) interest in SVV of circa 20%.

Nicholas Lee, Director of Pires commented:

"We are pleased to note the continued progress demonstrated across the SVV portfolio in Q3 2021. It is important to note that this period does not include the impact on the portfolio of Admix's successful Series B funding round, as announced by the Company on 26 October 2021, when Admix raised US $25 million. A number of well-respected VCs and gaming industry figures participated in the fundraise at a valuation of Admix which represents a 1,500% uplift on the valuation at which SVV initially invested, clearly demonstrating yet again the quality of the SVV portfolio. We look forward to updating the market on progress across the portfolio in due course."

Enquiries:

 
 Pires Investments plc         Tel: +44 (0) 20 3368 8961 
  Nicholas Lee, Director 
 Joint Broker                  Tel: +44 (0) 20 7469 0935 
  Peterhouse Capital Limited    Tel: +44 (0) 20 7469 0936 
  Duncan Vasey/Lucy Williams 
 Joint Broker                  Tel: +44 (0) 20 3167 7221 
  Tennyson Securities 
  Peter Krens 
 Financial media and PR        Tel: +44 (0) 20 3004 9512 
  Yellow Jersey 
  Sarah Hollins 
  Henry Wilkinson 
  Annabelle Wills

Notes to Editors

About Pires Investments plc

Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.

The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.

For further information, visit: https://piresinvestments.com/ .

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END

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November 25, 2021 05:29 ET (10:29 GMT)

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