TIDMPIRI
Pires Investments PLC
16 March 2022
16 March 2022
Pires Investments plc
("Pires" or the "Company")
First Investment of the Sure Valley Ventures UK Software
Technology Fund
Pires Investments plc (AIM: PIRI), the investment company
focused on next generation technology, is pleased to provide an
update on its investment in the Sure Valley Ventures UK Software
Technology Fund (the "SVV Software Fund").
Further to the Company's announcement on 2 March 2022, RETìníZE
Limited ("RETìníZE"), the award-winning creative-tech company based
in Belfast, Northern Ireland, has successfully raised GBP2 million
in a seed round led by the SVV Software Fund.
RETìníZE is developing an innovative software product called
Animotive that is harnessing the latest VR technologies to
transform the 3D animation production process. The proceeds of the
seed round will drive the next two-year step in its growth and the
global rollout of Animotive.
The seed round, led by the SVV Software Fund's GBP1 million
investment, marks the first investment from this fund which
recently announced its first close of GBP85 million, which included
a cornerstone GBP50 million investment from the British Business
Bank, an investment arm of the UK Government.
Other investors in the round, from the UK, USA, Ireland and the
Netherlands, include:
-- TechStart Ventures - leading investor of seed capital across
Scotland and Northern Ireland, following on from their 2019
pre-seed investment in RETìníZE
-- VGC Partners - London based investor building great companies
at the intersection of physical and digital commerce
-- Clarendon/Co-fund NI - equity fund based in Northern Ireland
that co-invest with business angels and private investors
-- Lonely Horse Investments - investor association based in the Netherlands
-- Bertram van Munster & Elise Doganieri - multi Emmy
award-winning producers behind the CBS hit show "the Amazing
Race"
-- Ben Morrow - Senior Product Manager, Adobe Aero (Adobe's AR creation tool)
The SVV Software Fund is a newly-established venture capital
fund, investing in a range of private UK software companies with a
focus on companies in the Metaverse, Artificial Intelligence and
Cybersecurity sectors. The fund is run by the same SVV team which
has been highly successful in achieving a number of cash
realisations from, and upward revaluations of, companies in the SVV
portfolio.
Nicholas Lee, Director of Pires commented:
"We are delighted to note the first investment of the new SVV
Software Fund, supporting one of Europe's fast-growing
creative-tech companies, RETìníZE, in its GBP2 million seed round.
This funding, which includes GBP1 million from the new fund and a
further GBP1 million from a number of highly-regarded co-investors,
will allow RETìníZE to expand its global rollout of Animotive in
the immersive software sector, which is well positioned to grow
rapidly."
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/
About the SVV UK Software Technology Fund
The Sure Valley Ventures ("SVV") UK Software Technology Fund is
a venture capital fund investing in a range of private UK software
companies with a focus on companies in the Metaverse, Artificial
Intelligence and Cybersecurity sectors. The fund is run by the same
SVV team which, to date, has been highly successful in achieving a
number of cash realisations from, and upward revaluations of,
companies in the SVV portfolio.
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