Firm’s portfolio up 24% in value

Dublin-based investment firm TVC Holdings has reported a solid set of annual results, underpinned by a 24% increase in the value of its investment portfolio.

Pre-tax profits at the company — previously known as Trinity Venture Capital — jumped from €8.8m to €9.2m in the 12 months to the end of March, with net asset value per share up 9%, from €1.05 to €1.14.

Total net assets were worth €115.2m as of the end of the year. While TVC owns a number of non-core stakes in a smaller technology companies, nearly 90% of its asset base comprises cash balance (and €72.6m worth of government bonds) and its 18% shareholding in UTV Media.