- First Growth Funds has been at the forefront of investing across a range of assets.
- FGFL's decision to invest in SportsHero came as a result of their recently recorded gains.
- Jadar recently received a 10 million dollar financing facility through Mint Advisors Ltd. FGFL also made several major investments in the financial year 2020 in companies such as LINCH.
First Growth Funds Limited (FGFL), the leading investment company in Australia, has raised its profits to over AUD 1.5 million across its listed investments. In its recently released report, the company shared an update about its investments and advisory business. In this article, learn more about FGFL's recent gains and profits earned through their varied investments in blockchain, e-sports, digital assets, and mining. Also, find out how this data will help the company pave way for future investments.
FGFL Investment Update
It is a well-known fact that First Growth Funds has been at the forefront of investing across a range of assets, including private equity, listed equities, digital assets, and blockchain. The firm also manages its advisory business providing capital raising, corporate advisory, as well as capital markets assistance to its investment portfolio.
In their report, First Growth Funds Ltd. revealed that it invested in three new listed equities through placements on the 5th of Feb 2021, increasing their existing investments by $3,183,119, thereby recording a profit of around $1,520,629. This was the company's additional gain of $573,629 ever since its last investment update, released on the 5th of Feb 2021. FGFL has also recorded an additional 7% gain through its crypto investment in Ethereum, valued at 576,331 dollars currently.
A look into their investment portfolio suggests that the company invested in three different listed equities including, SportsHero Ltd., Magnum Mining and Exploration Ltd., and Jadar Resources Ltd. While SportsHero happens to be an e-sports firm listed with the Australian Securities Exchange, Magnum Mining and Exploration is listed with the ASX and runs operations in Nevada, US. Jadar Resources, also listed with the ASX, is a renowned mining firm that offers a diversified portfolio of assets in gold, lithium, and silver.
FGFL's decision to invest in SportsHero came as a result of their recently recorded gains. SportsHero managed to deliver exceptional performance, with FGFL registering a $935,333 holding, as well as a profit of $505,333 (or 118%). The company also secured 15.3 million options along with a five cents exercise price which will likely be listed as well as tradable in March 2021.
On the other hand, Magnum Mining and Exploration have acquired permission for producing superior-grade magnetite concentrate for a long-term period. With this, the company will be able to grade plus 67.5% iron. This project is ideal for existing power, rail, and port facilities. FGFL plans to issue its shares after the shareholder meeting in March 2021. First Growth Ltd. also incurred an additional investment of $265,000, with an average price of 5.3 cents.
As far as the Jadar Resources Ltd. investment is concerned, FGFL has made an additional investment of $265,000 in the company. Jadar recently received a 10 million dollar financing facility through Mint Advisors Ltd. FGFL also made several major investments in the financial year 2020 in companies such as LINCH, a blockchain software solutions developer for the supply chain management. FGFL acquired 100 percent of LINCD for $940 and later sold LINCD to Harris Technologies Ltd. for $900,000. However, the company later sold its stake in Harris Technologies in April and made a cash profit of $1.42million.
Learn more about FGFL and its investment strategies at firstgrowthfunds.com
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