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Published on: February 11, 2022

Positive portfolio update

Tern has announced an update on its portfolio. The update follows recent successful fundraises that are already starting to bear fruit in terms of growing monthly recurring revenues, a key metric used in exit valuations. This should in turn maximise shareholder value, with Tern constantly evaluating the appropriate time to divest investees rather than focusing on a set timeframe. In late 2021, Tern introduced an important strategic investor, Venafi, to Device Authority and undertook a value-enhancing funding round for Konektio (previously InVMA) at a 44% uplift, followed in February 2022 by a further funding round for Talking Medicines at a 62% uplift. Tern’s investment in Wyld Networks has more than doubled since Wyld’s IPO in July 2021, providing access to capital and an exit strategy over time. Today’s announcement highlights further significant progress across the portfolio and new contract wins. We look forward to further positive announcements in due course.

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