Track record
When considering our returns, it should be appreciated that investing in unquoted companies is speculative and involves a high degree of risk. Whilst we show our historic track record, this is not necessarily indicative of future returns and investors should take professional advice before deciding to invest in such securities. We are members of the British Venture Capital Association and use their guidelines when valuing our portfolio.
Over its 14 year history Braveheart has completed over 100 deals into 49 companies. The returns from the portfolio are as follows:
Exit portfolio (being investments that have been realised): Annual compound return of 30%. 20 exits have produced: 6 stock market listings (2 on main London market with initial market caps of £260m and £165m respectively, 4 on AIM), 4 trade sales/secondary purchases and 10 failures.
Overall portfolio (both realised and unrealised investments): Annual compound return of 23%.
Note: Portfolio returns are as at 31 March 2010. All portfolio valuations are based on an equal rebating of client investments.
When compared to five benchmark returns as compiled for the European Venture Capital Association from the most recently available data, our results are as follows (please click on the image to enlarge):
