Elderstreet VCT plc : Manager Update

Elderstreet VCT plc
24 November 2016
Manager Update

Elderstreet VCT plc is pleased to announce a development in respect of its Investment Manager, Elderstreet Investments Limited.

Draper Esprit plc ("Draper Esprit"), a leading AIM and ESM listed venture capital firm involved in the creation, funding and development of high-growth digital technology businesses, has acquired a 30.77% stake in Elderstreet Holdings Limited, the holding company of Elderstreet Investments Limited ("Elderstreet"). Draper Esprit also has an option to acquire the balance of the Elderstreet Holdings Limited shares in due course. 

Draper Esprit has a significant pipeline of dealflow in high growth technology businesses which it will share with Elderstreet VCT, which will be able to co-invest alongside Draper Esprit-managed funds.

The Elderstreet VCT Board welcomes this development which it believes to be a positive step for the VCT and its Shareholders and going forward, expects the VCT to benefit from enhanced dealflow, syndication with Draper Esprit funds and an Investment Manager that will be able to call on a greater level of resources than previously.

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Source: Elderstreet VCT plc via Globenewswire