News from your portfolio – 6 October 2024 to 5 January 2025

Over the last quarter, your portfolio’s valuation has remained largely stable, with its current value below your initial investment cost. We recognise that this is disappointing, but it is typical for an early-stage portfolio in the early years of investing. This is because some businesses will not go according to initial plans, leading to a drop in value or the company potentially failing. And typically, companies that become successful take time to increase in value.

An example of a company making good progress to date is Partly – which is connecting the worlds car parts by building the global platform and protocol for the automotive industry. The company reduces overheads and lowers return rates through its intelligent parts interpreter, based on Original Equipment Manufacturers (OEMs) and enriched localised data sources and overlaid with advanced AI and machine learning. In 2024, the company shifted to targeting insurance companies through an invoice-payer strategy. The company is on target for its technical milestones within the repairs and dismantler/recycler portals.

We’ll continue to provide practical support to your portfolio in several ways. This may be working with companies to recruit key talent because, more than anything else, it’s the people working in the business who will determine whether it succeeds or fails. It could be through access to our extensive network of contacts, and hosting workshops on practical topics like operating internationally. We also sit on company boards and contribute to their strategy, helping them develop responses to challenges. However, it should be expected that even with our support, some of your early-stage companies will fail. We will continue to keep you updated with all relevant developments across your portfolio as it matures.

For any older news relating to your portfolio and any potential tax implications, please visit the ‘Communications’ tab in your online valuation.