Augmentum to launch £125m listed fund

As part of the flotation, the fund, named Augmentum Fintech, will acquire a portfolio of minority stakes in five companies currently held by Augmentum Capital, as well as the structural elements of the GP, for a total consideration of £33m, unquote" understands.

The new fund, which is scheduled for admission in mid-February, will have a financial-technology-specific remit.

Augmentum Fintech will look to invest a substantial portion of its funds raised within a year of the admission.

The GP has also recruited Amadeus Capital Partners' venture partner Perry Blacher to manage the fund.

The vehicle will be internally managed, while Frostrow Capital will be appointed as alternative investment fund manager for the purposes of AIFM rules.

Investors
Augmentum's existing management team, the GP's sole LP RIT Capital Partners, and other principal vendors of the portfolio will invest a combined £12m in the listed fund.

Investments
The new entity will make early-stage investments in fintech companies predominantly in the UK and mainland Europe, though it will not make any seed investments. It will specifically look at opportunities related to banking, insurance and asset management, as well as cross-industry companies.

The companies to be transferred as a result of the flotation comprise BullionVault, Interactive Investor, Seedrs, SRL Global and Zopa, in which the new fund will own stakes of 11%, 4%, 4%, 10% and 7% respectively.

According to a statement, the management team has a particular attraction to London-based companies, though it has also identified Berlin, Paris, Scandinavia and the Baltic region as areas that will provide investment opportunities.

People
Augmentum Capital – Tim Levene (managing partner); Richard Matthews (partner).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Venture
• Secondaries
• UK / Ireland
• Technology
• Venture
• United Kingdom
• Direct secondary
• Fintech