• Assets under management up a third to £98.5mn in 2024
• Operating loss widens from £2.6mn to £3.4mn
• £2.1mn of cash and liquid holdings at 31 May 2025
• 70 per cent discount to sum-of-the-parts valuation
Aim-traded investment and fund management company EMV Capital (EMVC:40p) is performing better than the headline loss suggests.
Specialising in the deep tech and life sciences sectors, EMV increased its core revenue by two-thirds to £2mn last year. This included £0.7mn of new recurring fund management fees from Martlet Capital, an early-stage investor based in Cambridge that provides patient capital to IP-rich start-ups with high growth potential. In May 2024, EMV was appointed as investment manager to Martlet Capital to manage its portfolio of investments.