SURE Sure Ventures Plc

Sure Ventures PLC

Infinite Reality Update:

Sure Ventures PLC would like to draw attention to a public announcement made by Infinite Reality ("iR") on the 8^th of January 2025. The key information in the announcement is as follows:

·    iR has raised additional equity of $3bn in cash, increasing iR's indicative valuation to $12.25bn

·    Execution of a 5 year deal with Google Cloud.

·    Launch of FIM SGP-Verse in collaboration with Warner Bros Discovery Sports

The first Sure Valley Ventures fund ("SVV1") has an equity shareholding in iR as a result of  iR's acquisition of SVV1's portfolio company Landvault in July 2024, in a US$450 million all-share transaction. At the time of the acquisition, SVV1 had a 7% shareholding in Landvault.

This Investment round is a further significant uplift to the valuation and therefore the value of Sure Valley Ventures holding in infinite Reality. Sure Ventures PLC has a 25.9% holding in Sure Valley Ventures Fund 1.

SVV1 is a venture capital fund, investing in a range of software companies with a focus on companies in AI and machine learning, Immersive Tech, Metaverse and Cybersecurity sectors. SVV1 is one of a number of funds managed by Sure Valley Ventures whose sovereign-backed investors include the British Business Bank and Enterprise Ireland.

Gareth Burchell, Director, commented:

"The fundraise and valuation achieved by Infinite Reality is very pleasing, with a significant "war chest" for the Business to maintain its growth strategy. This news bodes well for the future realisation of our investment.

It also serves as a reminder to investors that the portfolio of fund 1 is now in exit mode as the companies begin to mature. We look forward to updating the market on further exits in the future and rewarding long-term and loyal shareholders".

  Gareth Burchell-Director                                              Tel: 0207 186 9950