Mindflair (MFAI) , an AI-focused tech investment firm, has confirmed the successful sale of its portfolio company Getvisibility to cloud security provider Forcepoint. Mindflair expects to receive £2.6m from the transaction imminently.
Mindflair initially announced the disposal of its minority share in Getvisibility on March 10, 2025. Getvisibility is a cybersecurity company, focused on data visibility and control, using AI to classify and secure unstructured information. The disposal is expected to generate a gross cash inflow to MFAI of c. £1.8m.
Additionally, MFAI has an indirect interest in Getvisibility through its investment in the Sure Valley Ventures 1 fund (SVV1), and through its shareholding in Sure Ventures, which in turn has a 25.9% interest in SVV1. MFAI is expected to receive a further £0.8m from the indirect holding, for a total of £2.6m in cash from the realisation.
As Mindflair has a 23.8% shareholding in Sure Ventures, it may also receive a distribution from the proceeds that Sure Ventures receives from the disposal of Getvisibility.
Nicholas Lee, Director of Mindflair, commenting: "This is an excellent result for Mindflair and its shareholders, particularly as the Company has multiple interests in Getvisibility both directly and via its investments in two other entities. This is a clear example of the quality of the companies within Mindflair's investment portfolio and further validation of the Company's investment strategy."
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Mindflair has successfully realised £2.6m in cash from its disposal of Getvisibility and sale of indirect interest in SVV1. MFAI may also receive additional cash from any distribution made by Sure Ventures. The disposal represents a return of 6.0x on the total investment made into the company directly and a c. 4.5x on the total investment made by SVV1.
The carrying value of Mindflair's direct investment in Getvisibility was last reported at £1.2m on December 31, 2024. MFAI said it would use part of the proceeds from the transaction to settle remaining outstanding loan notes amounting to c. £800k and accrued interest thereon. Investors can expect a further update on the use of the proceeds and MFAI's portfolio.
This is Mindflair's fifth exit event from SVV1 since its inception as the fund is now firmly in the exit/realisation phase. In our estimation, MFAI remains undervalued, given the scope for material valuation uplift of the companies within its portfolio, evidenced by today's and other recent announcements. At its current share price, MFAI is still trading at a significant discount to NAV, presenting an attractive opportunity for growth investors.
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