Tekcapital demonstrates ability to create value ahead of MicroSalt IPO

This week, Tekcapital have further validated their strategy to develop university technology into businesses that have the potential to help a great number of people after their portfolio company MicroSalt achieved a $20m valuation.

Tekcapital has a 97% stake in MicroSalt and the latest valuation is well in excess of $7m valuation given to MicroSalt through a VC investment in mid-2022.

- Advertisement -

Tekcapital converted the outstanding convertible loan note in MicroSalt at $2.18 which now values MicroSalt at $20m.

Having appointed Zeus Capital as their AIM NOMAD in December, MicroSalt are gearing up for an IPO in 2023 which will unlock the value created in MicroSalt by Tekcapital.

MicroSalt’s technology reduces sodium in salt by 50% and can help the millions of people suffering from cardiovascular diseases.

There is a proven link between high sodium salt intake and cardiovascular disease which is responsible for the deaths of 17.9 million people each year.

- Advertisement -

MicroSalt’s products are now available in thousands of Kroger supermarkets in the United States and there is an understanding the company plans to launch their low-sodium salt shakers and crisps in additional markets.

Tekcapital portfolio

Should MicroSalt float this year, it will be the latest in a series of Tekcapital success stories that include Belluscura and Innovative Eyewear.

Tekcapital seek to provide a broader range of investors with access to technology companies at the early stage of their growth cycles through IPOs.

This is notably different approach to keeping companies private for longer and restricting the number of investors able to secure a stake in companies at the stages with potential for significant long term returns.

This has been demonstrated in Belluscura and the IPO at 45p in 2021. Belluscura subsequently provided early investors and IPO participants with share price highs above 130p, before falling back.

Tekcapital have also recently navigated challenging market conditions to secure growth capital for Innovative Eyewear through a NASDAQ listing in August 2022.

Latest News

Subscribe to the UK Investor Magazine email newsletter

Register for our free email newsletter and receive the latest investment news, podcasts, event information and offers.

More Articles Like This