Eurovestech, the development capital fund, has recorded a £3.5m (€5.7m) audited uplift in the value of its portfolio despite the slump in global stock markets and the technology slowdown.

Eurovestech, which floated on London's Alternative Investment Market (AIM) in March 2000, said the rise came after three of the companies that it invested in subsequently received a further round of financing from other investors. The follow-through investments boosted the valuation of the companies and increased the value of Eurovestech's shares.