The company’s directors pledged in July 2020 to achieve a better balance between liquid, pre-liquidity and longer-term investments and with just over a month of the financial year left the board feels this aim has been achieved.
Three new investments have been added to the portfolio since March 2020, while there were three follow-on investments as well.
“We now have a really good mix of liquid, pre-liquidity and longer-term investments as well as a good cash position to make further investments which taken together greatly reduces the risk of our portfolio whilst giving much clearer visibility on potential returns,” Ed McDermott, the chief executive officer, said.
The company focuses its investments in fast-growing and industry-leading businesses and has been increasing its exposure to medicinal cannabis plays, with its investments in recently-listed Kanabo Group and its participation in the placing of shares by Aussie-listed Little Green Pharma.
“Investor interest in the cannabinoid sector is escalating with several new companies nearing listing or recently listed on a UK exchange. This can only be good for the sector as a whole, raising its profile and making it more mainstream.
“Ongoing clinical research into Cannabis/cannabinoids is beginning to show efficacy in helping certain conditions. Having been involved in the sector for several years and with five investee companies operating within the space, we are ideally positioned to benefit from this growth and cement our position as a leading investor in the sector. At present we remain the only AIM-listed company investing in the sector,” McDermott said.
“We are pleased to have expanded our exposure to the health and medical cannabis sector, capitalising on our knowledge and experience and our ambition is to invest further in the sector during the course of 2021. Whilst clearly cannabis is a focus at present our portfolio is well balanced with a number of non-cannabis assets such as Leap Gaming and Juvenescence both of which we hope will secure liquidity events in 2021 as well as Portage which has just transitioned to the NASDAQ,” McDermott said.
The FastForward chief executive said he believes FastForward is at a tipping point, with its shareholders set to reap the rewards.