“In the period from incorporation on December 19 last year to September 30, the fintech venture capital investor had a net asset value total return of 5.1%. At September 30, Augmentum Fintech’s NAV per share was 104p. The company’s net assets at September 30 totalled GBP97.8 million.
The company’s portfolio fair value increased 62% since the company listed in March to GBP53.9 million on September 30 from GBP33.3 million on March 13. The rise in the valuation of peer-to-peer lending platform Zopa and equities investment platform Interactive Investor led to a GBP5 million increase in Augmentum Fintech’s NAV. Augmentum Fintech also made five new investments in the period, selected from 350 potential deals.
“With Brexit on the horizon and the uncertainty it is creating, it is clear to us that young and dynamic fintech businesses are often better placed to respond to these new challenges than the incumbents that they are looking to disrupt. We believe that the UK will remain the epicentre of fintech within Europe. But other European cities will develop strong capabilities in fintech. Accordingly, we will continue to expand our coverage across Europe, especially in Germany, France, Sweden, and the Netherlands.” [Tim Levene]
Augmentum is not afraid to take a contrarian stance and look for value in fintechs that have not fulfilled their early promise and potentially lofty valuations.”
