(Alliance News) - SuperSeed Capital Ltd on Wednesday announced a higher net asset value as it profited from the sale of hospitality e-commerce provider Techsembly to travel tech company Sabre Corp.

Guernsey-based venture capital fund focused on early-stage technology investments said net asset value per share as at June 30 was GBP1.18, up 26% from GBP0.94 a year prior.

Managing partner of the investment manager Mads Jensen said: "The fund's underlying portfolio has continued to perform strongly and is well-positioned for further growth in the remainder of 2023. Due to the high quality of our portfolio we continue to have strong merger & acquisitions interest, recently evidenced by the exit of Techsembly less than a year from our investment."

The company completed its sale of Techsembly to Sabre for an undisclosed sum on June 30 which SuperSeed said contributed to NAV growth.

Looking ahead, SuperSeed expects US inflation and recession fears to recede, with artificial intelligence continuing to dominate the agenda. "We expect to see many founders build exciting companies using this technology in the years ahead. It continues to be our mission to find and back the very best teams among them, and this continues to be our main focus for the second half of 2023," the company said.

SuperSeed Capital shares rose 6.1% to 90.00 pence each on Wednesday noon in London.

By Tom Budszus, Alliance News reporter

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