- NAV surges 56 per cent to US$51m in latest six-month period.
- Value of 15 per cent stake in Belluscura has since soared 70 per cent to £15.4m since the half year-end.
- Portfolio company, Lucyd, launches crowdfunding at double Tek’s pre-money valuation in its interim accounts.
TekCapital (TEK:22.25p), a £29.1m market capitalisation company that holds a concentrated investment portfolio focused on high growth technologies in the food technology, autonomous vehicles, smart eyewear and respiratory medical devices, has released eye-catching interim results.
Net asset value (NAV) surged 56 per cent to US$51.1m (39c a share) in the six months to 31 May 2021, buoyed by a thumping US$8.6m (£6.2m) paper gain on Tek’s pre-IPO holding of 17.1m shares in recently floated Belluscura (BELL: 90p), an Aim-traded company that is developing and commercialising IP in the medical devices space. Belluscura's first product, the X-PLO₂RTM, is a lightweight FDA cleared portable oxygen concentrator (POC) that has been designed to replace larger, metal oxygen tanks and heavier POC devices. Weighing less than 1.5kg, it is the world's first modular POC and generates more oxygen by weight than any other FDA cleared POC in its class.