Admitted to AIM in 2010, TMT has a globally diversified investment portfolio of over 45 companies and net assets of US$240 million as of 30 June 2026, focused primarily on Data Platforms, Enterprise Software, Logistics & Mobility, and FinTech.
The Company’s objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation. It seeks to realize its investments through the sale or merger of a company; the sale of securities of a company by means of public or private offerings; or the disposal of public equity investments through the stock exchanges on which they are listed.
Since inception, TMT’s portfolio has generated US$126.2m worth of full and partial profitable exits, of which a number were landmark multi-million dollar exits, and a 14% IRR (internal rate of return).
Since then, the Company has invested in over 100 companies and realised 20 profitable full and partial exits. TMT was one of the earliest investors in some of its most successful portfolio companies, including Wrike, Bolt, Pipedrive, Pandadoc and Backblaze. Having generated five unicorn companies in its portfolio to date, TMT is increasingly being recognised as a trailblazer in identifying promising technology companies at an earlier stage of their development. Bolt is the largest of TMT’s five unicorn investments to date and was valued at €7.4bn when it raised €628 million in its January 2022 funding round. The otherfour unicorns are Pandadoc, Wrike (exited in 2018), Pipedrive (exited in 2020) and Backblaze.
A number of portfolio companies have achieved significant growth and generated stellar returns for investors. Prime examples are the Company’s exits from project management software company Wrike, which generated a US$23m cash exit and a return of 23 times initial investment when it was acquired by Vista Equity Partners in December 2018, the US$44.4 million disposal of the Company’s interest in sales management software company Pipedrive to Vista Equity Partners concluded in December 2020, which generated a total cash return of over 51 times on investments made in 2012 and 2013, and the US$20m total cash exits from Depositphotos realised in 2016 and 2021, which generated a total cash return of 5 times.
These substantial cash exits, together with other cash exits and the proceeds of the Company’s fund raise conducted in October 2021, which raised US$19.3 million before expenses, have been reinvested into earlier and mid-stage companies as part of planning the next generation of the portfolio’s potential winners.
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