The move is set to place the £ 1.4 billion VC in the FTSE 250.
Venture capital firm Draper Esprit will move its listings to the main London Stock Exchange and Euronext Dublin markets.
The company is currently listed on the London Alternative Investment Market (AIM) and Dublin’s Euronext Growth Market, but said the move will make it “the largest pure technology VC listed on the main London market”.
With a valuation of £ 1.4 billion, Draper Esprit would be eligible for inclusion in the FTSE 250 at the next index review, scheduled for September. When the company was first listed on the AIM five years ago, its market capitalization was just £ 120 million.
“A move to the main market is a signal of the ambition and potential of Draper Esprit,” said Martin Davis, CEO of Draper Esprit.
“As we invest in and support visionaries who invent the future, this next step will allow us to bring an even wider range of investors around the world to high-growth, privately owned technology companies.
“The past five years on London’s AIM and Euronext Growth in Dublin have shown our potential as an investment and investor as we have become one of the most active venture capital firms in Europe. Looking ahead to the main market, we plan to support many more of Europe’s best entrepreneurs regardless of investment size, because the long-term combination of capital and commitment we offer will help them realize their incredible potential. “
Founded in 2006, the company includes 67 companies with names like Revolut, N26, Freetrade, Cazoo, Graphcore and UiPath. Draper Esprit has a stake in Trustpilot and Wise itself, which were recently listed on the main London market.
Draper Esprit’s IPO in 2016 made it the first European VC to go public. The company has raised approximately $ 860 million and has generated cash revenues of $ 420 million to date. It has invested more than $ 760 million in companies since going public.
In June, the company participated in Aircall’s Series D round. It has also led notable early-stage investments in recent months, including drone startup Manna and climate risk platform Cervest.
Stuart Chapman, co-founder and director of the company, added, “Draper Esprit’s listing five years ago was a radical and unusual move for a venture capital firm. What we knew then and can prove today is that listed venture capital is a powerful force to support entrepreneurs on their own long-term path to oversized success.
“We are delighted that we were able to show what is possible when investors allow public market share to participate in the success of the next generation of globally significant technology companies. Moving to the main market will enable us to do more. “
Updated, July 23, 2020, 12:00 p.m .: An earlier version of this article stated that the move would add Draper Esprit to the FTSE 250. It has been updated to clarify that the company will be eligible for inclusion in the FTSE 250 at the next index review.