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Draper Esprit Covid-19 Update

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We have recently provided an update to the market on how Draper Esprit has been tracking and is responding to the Covid 19 outbreak. This includes caring for its staff and working closely with its portfolio companies.

The Group's primary concern is ensuring the ongoing safety of its employees and their families. Management started to closely track events in China at the turn of the year when news of COVID-19 first emerged and moved quickly to put in place robust measures to protect staff via travel and face to face meeting restrictions, flexible working plans and remote working where possible. Our broader team includes the management of the portfolio companies who have also acted swiftly to protect their people.

We have increased our dialogue with our portfolio companies and continue to provide them with operational support and advice, particularly in relation to accessing various elements of the Government's financial assistance packages.

We are actively modelling the potential impact of COVID-19 on our portfolio and although we anticipate a period of trading slowdown we remain very positive about the long term areas of growth in the markets our companies address such as artificial intelligence, cloud computing for remote working and digital health. Many of our portfolio companies generate recurring revenues and the geographic diversity of our portfolio, combined with the broad cross section of areas in which they operate, means that we are not overly exposed to any individual market or sector.

To find out more about what we’re doing here at Draper Esprit, read the RNS here.