Pires Investments, a technology investment firm announced that Pluto Digital, one of its investments, has recently completed its audited accounts on Thursday morning.
The accounts have been completely audited and are valid till September 30, 2021. Pluto’s net assets have increased by around £30m since March 2021, when the company raised £31m in additional funding. As a result, as of September 2021, Pluto’s net assets were £61m or 9.5p per share.
Pluto has continued to grow its company, collaborating with Maze Theory, a digital entertainment firm, to create high-quality games with token economics to empower the next generation of gamers.
As part of the deal, Pluto will invest £4m in Maze Theory and launch a joint venture, Emergent Games, to create a new gaming blockchain and metaverse studio.
Furthermore, Pluto fully purchased the YOP platform in September 2021 and has been actively expanding this platform to help users operate in and navigate the rapidly increasing the decentralized finance (DeFi) industry.
The total value locked in DeFi is estimated to be around $275bn as of December 2021.
Pluto is currently pursuing other alternatives to access public markets, which are most likely to focus on Canadian markets, after NFT Investments announced on 8 April 2022 that it was no longer proceeding with its proposed acquisition of Pluto. As a result, Pluto is actively seeking other options to access public markets, which are most likely to focus on Canadian markets.
Pires Investments currently owns 32,518,876 Pluto shares and has warrants for almost 24m new ordinary shares, 6m of which have already vested, subject to specific vesting requirements.
Nicholas Lee, Director of Pires commented, “Pluto has made substantial progress in the DeFi, Metaverse and NFT sectors since its inception around 12 months ago.”
“The audited NAV per share figure represents a significant increase compared to the price of the most recent funding round, however, in terms of market valuation, companies similar to Pluto can often trade at a multiple of NAV.”
“It is important that Pluto makes its transition to the public markets in the optimum way and at the right time to maximise the creation of value for its investors and we, as one of the company’s original shareholders, are fully supportive of Pluto’s current approach.”