Touch Ventures Limited Reveals 1H23 Performance Report

Touch Ventures Limited (ASX: TVL) discloses its interim financial outcomes for the period ending June 30, 2023. Net Tangible Asset (NTA) reached AU$123.1 million, equating to AU$0.17 per share, while a net loss after tax of (AU$1.1 million) was reported. Realizations for the period amounted to AU$14.9 million, and the company held AU$62.8 million in cash.

Despite an AU$4.5 million gain from Basiq's sale and lowered operating costs, the loss can be attributed to a AU$5.4 million non-cash provision for the PlanPay loan impairment. The company's net asset position on June 30 stood at AU$123.1 million, including cash reserves of AU$62.8 million (roughly 51% of the net asset value). Touch Ventures plans to expand its portfolio and diversify by investing between AU$3 million and AU$10 million in late-stage growth firms, capitalizing on improved market conditions and increased deal flow.

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