SuperSeed Capital Ltd - Guernsey-based venture capital fund focused on early-stage technology investments - Notes total income of GBP213,936 for the quarter ended on March 31, compared to GBP65,328 in the period from October 6 to March 31 a year earlier. Total expenses reduced to GBP36,153 from GBP214,945 in the comparative period. Says sales growth has continued in the first quarter of 2023, with quarter-on-quarter contracted software-as-a-service revenue across the portfolio of the SuperSeed II LP fund up by 11% over the previous quarter. Expects this sales growth to increase in the second quarter. Second quarter profit is expected to be in the range of GBP200,000 to GBP300,000

Investment Manager Mads Jensen says: "In the face of significant macroeconomic headwinds and economic uncertainty, the fund's underlying portfolio has continued to perform strongly and is well-positioned for further growth in Q2 2023. Kluster has been a tremendous addition to our holdings and is well positioned to take advantage of the extensive structural growth in AI."

Last month, SuperSeed said it had made an investment, which it didn't quantify, in Kluster, a London-based revenue strategy artificial intelligence platform that helps companies beat their revenue targets.

Current stock price on AQSE: 52.50 pence each

12-month change: down 42%

By Xindi Wei, Alliance News reporter

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