|Welcome to our final quarterly update of 2021. This has been a record-breaking year for Calculus as we have delivered 11 exits and over £50million back to our investors.|
|Whilst Calculus’s origins are as a generalist investor, a few years ago we refined our investment strategy to focus on the fastest growing sectors in the UK – technology, healthcare and media. This proved to be an important shift, with little of our portfolio in the most ‘at risk’ sectors during the Covid-19 pandemic. Four of our exits this year were in healthcare companies, and all these companies pivoted resources to focus on Covid-19 diagnostics or vaccinations. |
The acceleration towards digitalisation across the globe means our tech portfolio is well positioned for future growth. Our two largest exits this year were in SaaS businesses – ActiveOps delivered a 6x return and CloudTrade a 4x return. Our most recent investment into Hinterview in late November is a great example of a technology company which perfectly fits our investment strategy. The award-winning video platform for the recruitment sector has experienced soaring demand for their technology since the pandemic and is already selling to well-known names within the sector.
If you would like to get in touch with our Investor Relations team to discuss your current portfolio or about making a new investment, they would be very happy to assist; 0207 493 4940/ [email protected]
Best wishes, John Glencross, Chief Executive
Calculus Quarterly News Round Up
1. 2021 Pipeline stats
Our Investment Team has looked back on their activity over the past 12 months. As we know, the quality of pipeline is key, and with our privileged deal flow we have seen an uptick on opportunities seen since 2020.
Please find the key stats below:
Number of opportunities assessed – 588
Most common sector – Technology (59%)
New investments made – 5
Follow on investments made – 5
View examples from the portfolio here
2. Venture Capital – Earning its place in a multi asset portfolio
Matthew Moynes, Assistant Director of Investor Relations, examines how UK venture capital investing should be earning its place in a multi asset portfolio. Read the full article here
3. What is a fund looking for?
This interview with Richard Moore, who heads up the Calculus Investment Team alongside Alexander Crawford, takes a deeper dive into what a Fund is looking for from a potential investee company.
With over 20 years’ experience of investing in U.K. growth companies Calculus usually takes a seat on the board and will provide advice on a strategic level. Calculus will typically invest £1-3 million in fast growing UK based businesses.
Read the full interview here
1. Scancell: As Covid mutates, the vaccine makers are adapting too
Scancell is testing two vaccine candidates that induce antibody and T-Cell responses against the original and variant Covid viruses in 40 healthy volunteers in South Africa. The company recently featured in an article written by the Guardian on how the focus of the exciting potential of T-Cell immunity is spurring the vaccine sector on to create a new generation of jabs. Read More
2. Spectral MD announce positive early results from clinical study
Spectral MD Holdings recently announced that it has presented early clinical results from a multi-centre clinical study. In Adult participants, the performance with cross-validation from the AI model for identification of non-healing burn regions showed 92% accuracy for the Deepview® Wound Imaging Solution in early healing assessment of adults.
3. Blu Wireless showcase new 360 Tactical Vehicle Node
Blu Wireless has been showcasing its new 360 Tactical Vehicle Node which enables scalable tactical connectivity between vehicles. This can be applied to military networks offering fast, secure and reliable connectivity in naval, space, air and land forces.
Please see their video on this below.
Hinterview are an award-winning video platform for the recruitment sector. Its software has been adopted by some of the world’s leading recruitment brands including Michael Page and Korn Ferry.
For more information about any of our funds or to speak to a member of the team please get in touch. Risk Warning: EIS and VCT investments are high risk. Any person making a subscription to the Fund or Venture Capital Trust must be able to bear the associated risks. Your attention is drawn to the Key Risks section of our website calculuscapital.com/keyrisks. Before making a decision to invest, potential investors should read the Information Memorandum or Prospectus and related application forms carefully, and consult their financial, legal, pension or tax adviser and must meet the Fund’s suitability requirements.
The past performance of investments made by funds managed by Calculus should not be regarded as an indication of the future performance of investments made by the Fund.The value of each investment made by the Fund may fall, and there is no guarantee that an investment will not lose all of its value.
Calculus Capital is authorised and regulated by the Financial Conduct Authority.
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