Thames Ventures VCT 2 plc
LEI: 21380035MV1VRYEXPR95
Unaudited Portfolio Update Net Asset Values as at 31 August 2022
12 October 2022

Thames Ventures VCT 2 plc (“the Company”) announces that the unaudited Net Asset Values of its share classes, as at 31 August 2022 were as follows:

 Pence per share
Generalist Ordinary Share70.0
Healthcare Ordinary Share78.4
AIM Ordinary Shares99.3
DSO D Share2.6
DP67 Ordinary Share 27.9


The unaudited Balance Sheet of the Company is shown below, followed by a summary of the investments held by each share pool.

UNAUDITED BALANCE SHEET as at 31 August 2022

 As at

31 August

2022
 As at

31 March

2022
 £’000 £’000
    
Fixed assets   
Investments48,175 49,141
    
Current assets   
Debtors2,050 4,317
Cash at bank and in hand12,587 8,384
 14,637 12,701
    
Creditors: amounts falling due within one year(532) (965)
    
Net current assets14,105 11,736
    
Net assets62,280 60,877
    
8BCapital and reserves   
Called up Share capital119 113
Capital redemption reserve58 58
Special reserve24,259 24,063
Share premium account31,727 29,284
Funds held in respect of shares not yet allotted11 7
Revaluation reserve5,687 6,995
Capital reserve – realised3,947 3,769
Revenue reserve(3,528) (3,412)
    
Total equity shareholders’ funds62,280 60,877
    

UNADUITED PORTFOLIO SUMMARIES as at 31 August 2022





Ventures Share pool




Cost




Valuation


% of

portfolio
  £’000 £’000  
Venture Capital investments   
Cornelis Networks, Inc.1,4022,4316.4%
Virtual Class Limited (Third Space Learning)1,0532,3026.0%
Rated People Limited1,3821,8955.0%
Hackajob Limited7841,7874.7%
Imagen Limited1,0001,7634.6%
CommerceIQ Limited1,7491,7494.6%
Ayar Labs, Inc.7641,6464.3%
Trinny London Limited2191,3743.6%
Cambridge Touch Technologies Limited9591,3533.5%
Ecstase Limited (t/a ADAY)1,0001,2033.1%
Upp Technologies Group Limited (previously Volo Commerce)1,1361,1363.0%
Firefly Learning Limited1,0471,0472.7%
Limitless Technology Limited7579202.4%
Arecor Therapeutics plc^4188882.3%
FVRVS Limited (t/a Fundamental VR)7778612.3%
Parsable, Inc.7668022.1%
Congenica Limited7347462.0%
FundingXchange Limited1,0507401.9%
Carbice Corporation6567211.9%
Masters of Pie Limited6676671.7%
Vivacity Labs Limited4934931.3%
Maverick Pubs (Holdings) Limited1,0004501.2%
Fenkle Street LLP3014111.1%
BBC Maestro Limited3403400.9%
Channel Mum Limited7573110.8%
MIP Diagnostics Limited3003000.8%
Distributed Limited2752750.7%
Bulbshare Limited2492490.7%
Glisser Limited2002000.5%
Destiny Pharma plc^5001210.3%
Lignia Wood Company Limited1,778-0.0%
Empiribox Holdings Limited1,563-0.0%
Live Better With Limited1,211-0.0%
Ormsborough Limited900-0.0%
Hummingbird Technologies Limited750-0.0%
Lineten Limited400-0.0%
London and City Shopping Centre Limited30-0.0%
 29,36729,18176.3%
    
Liquidity investments   
Downing Strategic Micro-Cap Investment Trust plc4,2692,6406.9%
Total investments33,63631,82183.2%
    
Cash at bank and in hand 6,40816.8%
Total 38,229100.0%
    




Healthcare Share pool




Cost


Valuation
% of

portfolio
  £’000 £’000  
Venture Capital investments   
Arecor Therapeutics plc^1,5333,25618.3%
Open Bionics Limited1,0001,6309.2%
Adaptix Limited1,0561,84310.4%
FVRVS Limited (t/a Fundamental VR)1,3051,4728.3%
Congenica Limited1,1841,2156.8%
GENinCode plc^1,2021,0826.1%
Cambridge Respiratory Innovations Limited8008004.5%
The Electrospinning Company Limited4785443.1%
Invizius Limited5005002.8%
Closed Loop Medicine Limited6506503.7%
DiA Imaging Analysis Limited4154842.7%
MIP Diagnostics Limited3003001.7%
Destiny Pharma plc^7501821.0%
Live Better With Limited1,107-0.0%
 12,28013,95878.5%
    
Liquidity investments   
Downing Strategic Micro-Cap Investment Trust plc7294512.5%
Total investments13,00914,40981.0%
    
Cash at bank and in hand 3,38219.0%
Total 17,791100.0%


AIM Share Pool 



Valuation


% of

portfolio
Portfolio of investments  £’000  
Cash at bank and in hand 2,790100.0%
Total investments 2,790100.0%






DSO D Share Pool




Cost




Valuation
% of

portfolio
  £’000 £’000  
Venture Capital investments   
Pearce and Saunders Limited2552518.1%
Pearce and Saunders DevCo Limited191611.6%
    
Total investments2744129.7%
Cash at bank and in hand 9770.3%
Total 138100.0%








DP67 Share Pool




Cost




Valuation


% of

portfolio
  £’000 £’000  
Venture Capital investments   
Cadbury House Holdings Limited1,40979141.3%
Fenkle Street LLP40577140.2%
Gatewales Limited34334418.0%
Yamuna Energy Limited400-0.0%
London City Shopping Centre Limited99-0.0%
    
Total investments2,6561,90699.5%
Cash at bank and in hand 100.5%
Total 1,916100.0%