Precision, clarity & confidence
Over the last decade, Touchstone has built an outstanding portfolio of early stage companies, many of which are close to value creation events. These are businesses in which we have already invested £372.4 million (as at 31 July 2017) and which have collectively raised investment of more than £1.7 billion.
Strong, well-funded pipeline
Since its IPO in 2006 Touchstone Innovations has co-founded and invested in 112 portfolio companies (as of 31 July 2017). Of these, 24 companies have completed successful exits, generating £42.8 million of cash proceeds and an average return of 2.8x cash invested. A further 38 companies have been sold or written down to recover £8.20 million value in total, an average of 0.3x cash invested. The balance comprises the accelerated growth portfolio valued at £445.4 million which provides the investment opportunity and value potential.
Touchstone's top 10 investee companies have net investment carrying values between £13.8 million and £48.3 million spread across its four specialist sectors of Therapeutics, Medtech & Diagnostics, Engineering & Materials and ICT & Digital. None of these companies have a disproportionate weighting, with the largest, Veryan Holdings Limited, representing 10% of total net portfolio value. Eight of the top 10 are private companies with an average age of 9.9 years. These are well-managed and well-capitalised businesses which have been de-risked and validated in each case to varying degrees through the due diligence carried out by Touchstone's co-investors. They have raised an average of £44.5 million each.