Sure Ventures PLC on Monday said it raised £200,000 via a private placing of new shares to be used for further investments and general working capital purposes.

The London-based venture capital fund, which invests in early-stage software companies working on augmented reality, virtual reality, internet of things and artificial intelligence, said it would issue 205,128 new shares at a price of 97.50 pence each.

Shares in Sure Ventures were down 2.6% to 95.00p in London late on Monday morning.

Sure Ventures said the proceeds would be used for further investments, including follow-on investment in Sure Valley Ventures and the Sure Valley Ventures UK Software technology fund, alongside general working capital purposes.

Sure Ventures said admission for trading on the Main Market will take effect when London markets open on Friday this week.

Following admission, Sure Ventures said it will have just under 7.1 million shares in issue.

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