The Company's largest investments at 31 December 2016 comprising 80% of the total portfolio were:

Company Geography Sector Book Value 31st December 2016 £'000 % of Net asset value 2016
Quoted investments
Weatherford international US Energy 2,909 4.2%
Gresham House UK Financial 2,481 3.6%
Unquoted investments
Medhost Inc US Technology 12,070 17.7%
Elateral UK Technology 3,900 5.7%
Entuity UK Technology 3,000 4.4%
365iTMS UK Technology 2,100 3.1%
Fund investments
San Francisco Equity Partners
Penguin Computing US Technology 10,133 14.9%
Yes To, Inc US Consumer 8,387 12.3%
Others
Brockton Capital UK Property 6,651 9.8%
Opus Capital Venture Partners US Technology 4,505 6.6%
Eden Venture Partners UK Technology 2,964 4.4%

Basis of valuation

  • Quoted investments - bid price of security quoted on relevant securities exchange;
  • Unquoted investments - multiple of revenues or earnings of comparable quoted companies with appropriate discounts for marketability;
  • Fund investments - based on amounts reported by the general partner unless the reported value is not in line with the Company's valuation policy.