reports
- Hybridan Team
- Jon Levinson
Hybridan Research: TMT Investments PLC: Waiting for Take-Off
Since inception in 2010, there has been a 14.5% per annum increase in IRR to December 2024 as management has grown the portfolio to a total of approximately 50 maturing tech companies. These companies are in impactful technologies primarily focused on Big Data/Cloud, Ecommerce, Edtech, Mobility, FinTech and SaaS (software-as-a-service). The Interims to June 2025 reported a 3.8% increase in NAV to $6.80 from $6.55 as of 31 December 2024 and an Operating gain of $7.89m compared to a $0.19m Opera...
- Hybridan Team
- Jon Levinson
Hybridan Research: TMT Investments: Technology Delivering Value
There are updates on three shares in TMT’s portfolio of globally diversified IT investments of over 50 companies The focus is primarily on AI, Big Data/Cloud, Ecommerce, Edtech, Mobility, FinTech and SaaS (Software-as-a-Service). There is a revaluation uplift of 138% ($0.7m) in the fair value of TMT's holding in its portfolio company Scale, compared to the value as at FY 31 December 2024. Scale is a humanity-first GenAI company Meta Platforms, listed on Nasdaq (META), made a significant invest...
- Hybridan Team
- Jon Levinson
Hybridan Monthly 1 May 2025
Hybridan Monthly, 1 May 2025 Market Comment: A contrarian view to companies delisting from the market The flurry of companies delisting from the market has accelerated since early 2024. The London Stock Exchange (“LSE”) has been an easy target for those eager to point the blame. Unfortunately, criticism towards the LSE is now synonymous with the media coverage of a company leaving the market. “The London Stock Exchange is on course for its worst year for departures since the financial crisis….” ...
- Hybridan Team
- Jon Levinson
Hybridan Small Cap Feast: 26/03/2025
Our daily digest of news from UK Small Caps @HybridanLLP 26th March 2025 * A corporate client of Hybridan LLP ** Potential means Intention to Float (ITF) has been announced, or it is a rumour ***Arranged by type of listing and date of announcement ****Alphabetically arranged Share prices and market capitalisations taken from the current price on the day of publication Dish of the day Admissions: None Delistings: None Yester...
- Hybridan Team
- Jon Levinson
Hybridan Research: TMT Investments plc: Stable and Steady...a Result
TMT manages a globally diversified IT investment portfolio of over 50 companies, focused primarily on Big Data/Cloud, Ecommerce, Edtech, Mobility, FinTech and SaaS (software-as-a-service). These technologies are main growth drivers of the global economy. Its finals to FY December 2024 reported a stable Net Asset Value (NAV) of $205.9m which is little changed from £208.1m (Dec 2023). The NAV on a per share basis is $6.55 from $6.62, which is an approximately a 60% discount to the share price yes...
Hybridan Small Cap Feast - 15 August 2024
15th August 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: None Delistings: Tertre Rouge Assets Plc (TRA.L) has delisted from the Standard Segment of the Main Market. What’s baking in the oven? ** Reverse Takeovers: Earnz plc (EARN.L) is an AIM Rule 15 cash shell, which is required to make an acquisition or ...
- Emily Liu
Hybridan Research 15/08/2024 - TMT Investments: US$9.8m cash to conti...
TMT Investments today announced its unaudited interim results for the half-year ended 30 June 2024. Total NAV was US$208.1m (unchanged from 31 December 2023), translating into NAV per share of US$6.62 (same as at 31 December 2023). The NAV-based IRR was 17.6% for seven years and 12.5% for five years. During the period, TMT invested $1.9m in total and disposed of US$5.8m worth of holdings. Cash and cash equivalent reserves were US$9.8m as at 14 August 2024 and the Company has no financial debt. A...
Hybridan Research 07/06/24 - TMT Investments : Investment in Praktika....
TMT Investments yesterday announced the following portfolio update. As some of the portfolio companies are currently fundraising, TMT expects further positive revaluations by the time of the publication of its 2024 interim results. At the same time, TMT expects to announce a few write-downs/write-offs given the growing divergence between good and less fortunate performers in the tech space. Positive revaluations OneNotary (), an online notary service, has completed a new Series A equity funding ...
Hybridan Small Cap Feast - 06 June 24
6th June 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: Delistings: Oxford Cannabinoid Technologies Holdings (OCTP.L) has left the Standard Segment of the Main Market. What’s baking in the oven? ** Potential**** Initial Public Offerings: ITF announced: 22nd May: Raspberry Pi announces an intention to float o...
Hybridan Small Cap Feast - 19 Mar 24
19th March 2024 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object...
- Emily Liu
Hybridan Research 19/03/2024 - TMT Investments: 2023 final results - 6...
TMT Investments today announced its audited results for the year ended 31 December 2023. The profit for the year was US$6.4m (2022: loss of US$81m) and the NAV was US$208.1m, up 3.3% (US$201.7m as of 31 December 2022), mainly as a result of the upward revaluation of Backblaze and Collectly. This translates to NAV per share of US$6.62 (compared to US$6.41 as at 31 December 2022) and the five-year IRR (internal rate of return) is 16% p.a. As of 18 March 2023, TMT had US$11.0m in net cash and cash ...
- Sacha Morris
Hybridan Small Cap Feast 15/08/2023
Andrada Mining 7p £107.7m (ATM.L) The African technology metals mining company with a portfolio of mining and exploration assets in Namibia, provides an update on the previously proposed Funding Package with funds managed by Orion Resource Partners announced on 15 September 2022. On 11 August 2023, Andrada signed binding documentation for an updated, conditional US$25m funding package with Orion. The financing agreement is as follows: US$2.5m (c£2.0m) equity at 6.39p and US$10m (c£7.9m) Converti...
- Emily Liu
Hybridan Research: 15/08/2023: TMT Investments PLC: Continuing with a ...
TMT Investments today announces its interim results for the half year ended 30 June 2023. Total NAV was US$198.7m (down 1.4% from US$201.7m as of 31 December 2021). This translates to NAV per share of US$6.32 (compared to US$6.41 as at 31 December 2021). During the period, the positive revaluations of four investees (1Fit, Collectly, SonicJobs and Mobilo) largely offset the negative revaluation of Backblaze based on its share price on NASDAQ. As of 14 August 2023, TMT had US$7.8m in cash and cas...
Hybridan Small Cap Feast - 28 Mar 23
28 March 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv...
- Emily Liu
Hybridan Research: 28/03/2023: TMT Investments plc: Cautious optimism ...
TMT Investments today announces its final results for the year ended 31 December 2022. Total NAV was US$201.7m (down 28.7% from US$283.1m as of 31 December 2021). This translates to NAV per share of US$6.41 (compared to US$9.00 as of 31 December 2021), mainly due to downward revaluations of Backblaze by 64% and Bolt by 33% as a result of stock markets sell-off leading to reduced valuations for some start-ups. Administrative expenses were US$1.4m, down 25% and reflecting a reduced level of invest...
TMT Investments: 1 director
A director at TMT Investments bought 36,364 shares at 2.750USD and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearl...
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