• Welcomed Gannet Capital as largest investor, with founder Glenn Poswell joining the Board
• Focused on realising value from legacy portfolio and identifying new investment opportunities
• Invested $4.5m in Tixel and US$6.6m in Reshop in December 2024

Touch Ventures Limited (ASX:TVL) reported its results for the year ended 31 December 2024. The company welcomed Gannet Capital as its largest investor, with Gannet's founder Glenn Poswell joining the Board. The Board has acted to reset the cost base of the company and improve its overall performance, including through cost reduction initiatives and the replacement of the leadership team. While continuing to concentrate efforts on realising value from the legacy portfolio, the company is now focused on identifying and delivering exciting new investment opportunities. In December 2024, the company invested $4.5 million into Tixel, a live entertainment ticket resale platform, and US$6.6 million (A$10.6 million) into Reshop, a US retail technology company. Unfortunately, high interest rates and subdued capital market conditions persisted for much of the year, creating challenges for the legacy portfolio companies. As a result, Touch Ventures reported a net loss after tax of $24.9 million, driven predominantly by the impairment of its investments in Sendle and Postpay.