Sure Valley Ventures UK Software Technology Fund
Tern is a participant in a new venture capital fund, the Sure Valley Ventures UK Software Technology Fund (the “New SVV Fund”) alongside the British Business Bank (the “BBB”) and other investors.
Details of the New SVV Fund
SVVUK is a new UK venture capital fund, investing in cutting-edge software companies that are at the forefront of immersive technology and metaverse innovation. With a focus on augmented and virtual reality, artificial intelligence, the IoT and security, SVVUK’s portfolio companies are poised to transform the digital landscape.
Commenting Al Sisto, CEO of Tern, said:
“We believe participation in the New SVV Fund is an excellent way to broaden Tern’s exposure to exciting early-stage private UK technology companies with a modest capital commitment, whilst delivering a number of other potentially significant benefits to Tern and its shareholders. In addition to the attractive financial returns we envisage from our participation, we believe that it will provide important technology insights, assist with business development and increase our network, thereby significantly enhancing the Tern ecosystem.”
