Investments in four Trendlines portfolio companies

Editors note: News of this investment has appeared in The Business Times.

We are pleased to announce the approval of investments in four of the Group’s portfolio companies by Agriline and Trendlines.

Agriline Limited is ultimately held by Geneva Trust Company (GTC) SA as Trustees of The VT Two Trust. Librae Holdings Limited is considered a controlling shareholder of Trendlines under the Catalist Rules and is ultimately held by Geneva Trust Company (GTC) SA as Trustees of The Tchenguiz Three Trust. Vincent Tchenguiz is the discretionary beneficiary of both trusts.

The total amount to be invested in these four portfolio companies is approximately US$3.0 million by Agriline and US$0.8 million by the Group and follows investments in eight other portfolio companies earlier this year.

The four companies are:

Arcuro Medical, which has developed SuperBall, the first knotless meniscus repair system. Arcuro’s novel technique enables the entire procedure to be performed inside the joint space to preserve functionality and repairs hard to reach areas. Arcuro recently launched sales in the United States for its patented, FDA-cleared system.

FruitSpec, which brings accuracy to fruit yield estimation through the use of hyperspectral machine vision technology, applied computer vision, and AI algorithms to automatically count and estimate fruit number and size – even early in the season when the fruit is at the green stage. There is no technology available today that provides this critical information, which has a significant impact on the market value chain, early in the season. FruitSpec has commenced sales in Israel and Latin America.

ProArc Medical, which has developed the ClearRing™, a prostatic reshaping device designed to treat lower urinary tract symptoms due to enlarged prostate (benign prostatic hyperplasia, BPH). Physicians can insert the device during a minimally invasive procedure, often in a physician’s office.  ClearRing reduces complications and promises a quicker recovery. It is patented in the United States and EU.

Phytolon, which is bringing industrially produced natural, high-quality food-colorants to the market in a cost-effective manner benefitting human health and environmental sustainability.

Trendlines Chairman and Chief Executive Officer, Steve Rhodes, remarked:

These four companies have achieved a number of significant successes in the field and in the clinic. We are thrilled to be supporting these portfolio companies with significant follow-on capital, especially in today’s environment in which raising capital is more difficult than usual.  Our full life cycle approach to investing enables us to support our companies from the very earliest stages through to their market launches and exits.  And the co-investments with Agriline demonstrate, yet again, the tremendous value of this relationship for Trendlines, its portfolio companies, and our shareholders.

 

Read more on the investments here.