Vaultz Capital (AQSE:V3TC) has completed a £3.0 million investment in a newly incorporated software company whose technology is designed to extend the performance of GPU hardware beyond conventional memory limits.
The company said the subscription buys new equity representing approximately 2.3% of the investee company's enlarged share capital, at a price of £6.68 per share for 449,101 new shares.
The investment forms part of a wider £5.0 million funding round. And, Vaultz suggested it implies a pre-money valuation of £90 million and a post-money valuation of £95 million.
Vaultz funded the deal primarily by selling 47 bitcoin from its treasury at an average price of £62,914, realising approximately £2.96 million.
Following the disposal, the company holds 86 bitcoin worth approximately £5.41 million at 1 October, together with cash of approximately £0.4 million; its modified net asset value per share, including the investment at cost, stands at approximately 3.41p.
The investee company has built a software layer sitting between AI and high-performance-computing workloads and the GPUs that run them, addressing the hard memory limits that typically force operators to deploy multiple networked GPUs for large workloads.
Its hardware-agnostic technology is designed to work within standard AI serving and training stacks without modifying underlying hardware or models, and has been independently benchmarked to show increases in usable compute per GPU, faster fine-tuning and inference, and lower energy use per unit of work; it has also been demonstrated running a full-resolution weather model on a single desk-side device.
"AI requires enormous computing power, with access to GPUs, the specialist chips widely used to train and run AI models, becoming an increasingly important constraint on its growth," said Charlie Wood, Chairman of Vaultz Capital.
"With independent testing already demonstrating the technology across real workloads and hardware, we see considerable commercial potential," he added.
The identity of the investee company is being withheld for commercial reasons, with Vaultz citing confidentiality obligations and saying it will provide further detail on commercial progress when appropriate.
Wood and fellow director Fungai Ndoro co-invested £140,000 between them alongside the company on the same terms, a transaction classed as a related party deal under the Aquis Growth Market Access Rulebook; independent director Ian Burns has deemed the co-investment fair and reasonable to shareholders.