Tern has completed a c.£1.75 million fundraise at 11.15p to support its investment strategy and maintain its ‘positions of influence’ in its investee companies as they participate in follow-on funding rounds. In an immediate example of the latter, one of those investees, FundamentalVR, has closed a £4.3 million fundraising including the conversion, by Tern, of £0.5 million in convertible loan notes. The post-money valuation of £11.3 million implies a 27% up
30 Oct 2019
Dual fundraises endorse Tern’s strategy
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Dual fundraises endorse Tern’s strategy
Tern PLC (TERN:LON) | 2.6 0 0.0% | Mkt Cap: 10.4m
- Published:
30 Oct 2019 -
Author:
Gareth Evans -
Pages:
2
Tern has completed a c.£1.75 million fundraise at 11.15p to support its investment strategy and maintain its ‘positions of influence’ in its investee companies as they participate in follow-on funding rounds. In an immediate example of the latter, one of those investees, FundamentalVR, has closed a £4.3 million fundraising including the conversion, by Tern, of £0.5 million in convertible loan notes. The post-money valuation of £11.3 million implies a 27% up