We are delighted to have generated a 2.36x return (3.37x inclusive of initial tax reliefs) for our investors on the sale of the University of Cambridge Enterprise Fund I holding in Horizon Discovery plc. The investment was held for 3.9 years and the exit was generated through a single block trade.

We would like to thank the management team at Horizon Discovery for their dedication to the business and continue to wish them well in the future.