Thursday 24 January 2019

Venture capital investor raises €102 from initial public offering on ISE and London Stock Exchange

Draper Esprit plc, the venture capital investor involved in the creation, funding and development of high-growth technology businesses has raised €102m from its Initial Public Offering (IPO) on both the Irish Stock Exchange (ISE) and the London Stock Exchange.

Founded in 2006, Draper Esprit focuses on long term investment (patient capital) in digital technologies and has invested over US$1 billion in more than 200 businesses in the UK, Ireland and throughout Europe. To date it has created businesses with a total aggregate value of over US$8 billion with an exited value of over US$6 billion. Its current investment portfolio spans 22 countries.

Key investors in Draper Esprit include the Ireland Strategic Investment Fund, UK-based investment managers Woodford Investment Management and Baillie Gifford, and China Huarong International Holdings Limited.

It began trading last week on the ISE's Enterprise Securities Market with a market capitalisation of €161m.

On their admission, Deirdre Somers, ISE Chief Executive, said: 'We are delighted to welcome a highly ambitious company like Draper Esprit, which in turn backs Europe's most ambitious entrepreneurs in the digital and technology sectors, to the Enterprise Securities Market.'

Simon Cook, Chief Executive Officer, said: 'Ireland has a long and proud history of producing world leading entrepreneurs as well as some of the best digital technology companies to emerge in Europe and onto the global stage. Today represents a significant milestone.'

Wexford People

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