Mon Sep 16 15:45:00 UTC 2024: ## Octopus Titan VCT Reports NAV Decline in First Half of 2024
**London, September 16, 2024** – Octopus Titan VCT plc (the ‘Company’) has announced that the unaudited Net Asset Value (NAV) of the company was 53.5 pence per share as of June 30, 2024. This represents a continued decline from the previous period, largely driven by a decrease in valuation multiples applied to several mature portfolio companies.
The Company attributes this decline to the broader market trends, reflected in the 12% drop of the Bessemer Index, which tracks SaaS-based listed companies. The slower private fundraising environment and challenging trading conditions faced by some portfolio companies have also contributed to the NAV decrease.
Despite these challenges, portfolio companies have focused on extending their cash runway. 14 out of the top 15 portfolio companies by value, representing approximately 50% of the portfolio, have at least 12 months of cash runway or do not require additional funding.
Octopus Titan VCT remains optimistic, anticipating that the private funding environment will improve and interest rates will fall, leading to a renewed focus on growth and a subsequent increase in valuation multiples. Further details on the company’s performance will be provided in the half-year report, scheduled for release later this month.
First Piper 