Augmentum Fintech raises £25.8m after promising first year – Augmentum Fintech (AUGM) published its first set of annual results last month, (click here to read this story) and has this morning announced that it has raised gross proceeds of £25.8m through an equity issue.
At the end of first yearly results period, to 31 March 2019, AUGM had committed 75% of the £94m it raised in its flotation and had a war chest of £15m. It has since spent £8.5m of this with the announcement of top-up investments in three of its existing holdings.
The managers have a £450m pipeline of potential investments earmarked for the proceeds of any fundraise. The seed portfolio from August 2018 included stakes in Zopa and Interactive Investor.
About AUGM
AUGM is a venture capital investor focusing exclusively on the fintech sector. The company invests in fast growing fintech businesses that are disrupting the banking, insurance, asset management and wider financial services sectors. AUGM is the UK’s only publicly listed investment company focusing on the fintech sector, having launched on the main market of the London Stock Exchange in 2018, giving businesses access to patient capital and support, unrestricted by conventional fund timelines.
AUGM: Augmentum Fintech raises £25.8m after promising first year