Technology focused venture capitalist firm Draper Esprit said its gross primary portfolio value increased by 44% to £162.8m for the six months to the end of September.

This was up from the figure of £112.7m at the end of March.

Draper Esprit reported an after-tax profit of £20.9m for the six month period, down from the after tax profit of £33.2m in the six months to the end of March. 

The company said it had been "actively" investing during the six month period and across the group it had made three new investments and six follow-on investments.

It said that £100m additional capital was also raised from new and existing shareholders by plc and £35m across the EIS and Venture Capital Trust funds. 

Simon Cook, Draper Esprit's chief executive, said that the company had set itself a financial benchmark of achieving 20% year on year growth in portfolio value in line with its historical record.

"At the half year we have already delivered 22% growth in the portfolio and stand well positioned to deliver over the full year with significant cash balances remaining to deploy," Mr Cook said.

He also said Draper is retaining the ability to hold and grow its companies for longer than its non-listed competitors can and with larger sums available for later rounds to maximise the opportunity and build large successful European technology businesses. 

"We continue to find exciting new opportunities as technology innovation shows no sign of slowing, and our recent seed funds initiative is helping to forge key relationships at the very earliest stages," the CEO added.