Augmentum Fintech to double in size as it seeks £150m fundraise
London-listed fund, Augmentum Fintech, is courting a £150 million capital raise, which would more than double the size of the company, as reported by CityAM.
The fintech-focused firm said in a filing it intends to create up to 150 million new shares, valued at a total of £ 150 million, subject to shareholder approval.
“In our first year we have seen some 675 opportunities and have invested in nine of them,” says Tim Levene, chief executive of Augmentum Fintech.
“The strength of our deal flow reflects the scale of the opportunity and we believe that Augmentum is uniquely positioned to take advantage of this. Our strategy remains to back some of Europe’s most exciting early and growth stage fintech businesses that are disrupting the traditional financial services industry.”
A spokesperson for Augmentum Fintech said it could not comment on timings for the raise. However, the capital would be used within the next 18 months.
Its portfolio was valued at £77.6 million as of the end of March, including gains of £12.2 million in the valuation of its companies including peer-to-peer lender, Zopa and Interactive Investor.
Its net asset value per share increased 10.7% to 109.6p across the year, compared with 99p at launch.