Over the last 14 years, if a client had put £10,000 into every one of the 48 companies we recommended at first issue, they would now have £2,315,340, and still be awaiting the exit of another 21 companies.
It’s an enviable track record, which we’ve had fully and strictly audited up to 31 January 2020. Here are the highlights:
IRR of 19.7% not counting tax relief.
IRR of 25.6% including tax relief.
4.9x return on gross investment.
6.0x return on net investment.
21 companies still striving for exit
Best exit: 160x for Blue Prism – floated on AIM in 2017.
Most recent exit: 33x for Ebury Partners – share price from £8.19 to £272.22, announced October 2019.
The audit of the Endeavour Ventures track record was conducted with very cautious assumptions, including:
– No follow-on or down round investments have been included, even though investments with follow-ons tend to fail less often than others.
– Cash-to-cash only, with no value placed on share price increases if an exit has not yet been achieved.
– All live investments fail, even though we know how unlikely that is.
For the full audited track record, download this pdf.
For the auditor’s letter about the track record, download this pdf.