Albion Enterprise VCT PLC

Interim Management Statement

ALBION ENTERPRISE VCT PLC
LEI Code: 213800OVSRDHRJBMO720
Interim Management Statement

Introduction
I am pleased to present Albion Enterprise VCT PLC (the “Company”)’s interim management statement for the period from 1 October 2020 to 31 December 2020.

Performance and dividends
The Company's unaudited net asset value (NAV) on 31 December 2020 was £77.78 million or 114.97 pence per share (excluding treasury shares), an increase of 5.42 pence per share (4.9%) since 30 September 2020.

After accounting for the dividend of 2.74 pence per share to be paid on 26 February 2021 to shareholders on the register on 5 February 2021, the NAV is 112.23 pence per share.

Albion VCTs Prospectus Top Up Offers 2020/21
The Company launched a prospectus top up offer of new Ordinary shares on 5 January 2021. On 21 January 2021 it was announced that the Company would exercise its over-allotment facility of a further £3 million to take the amount up to its maximum limit of £9 million, as provided for under the Offer.

On 5 February 2021 the Company was pleased to announce that it had reached its £9 million limit under its Offer which was fully subscribed and closed to further applications. The proceeds of the Offer will be used to provide further resources to our existing portfolio and to enable us to take advantage of new investment opportunities being seen.

Portfolio
The following investments have been made during the period from 1 October 2020 to 31 December 2020:

New investments	£000s	Activity
Seldon Technologies Limited	371	Software company that enables enterprises to deploy Machine Learning models in production
uMedeor Limited (T/A uMed)	134	A middleware technology platform that enables life science organisations to conduct medical research programmes
Total new investments	505

Further investments	£000s	Activity
Limitless Technology Limited	151	Provider of a customer service platform powered by the crowd and machine learning technology
Oviva AG	130	A technology enabled service business in medical nutritional therapy (MNT)
Arecor Limited	110	Development of biopharmaceuticals through the application of a formulation technology platform
Total further investments	391

Disposals