The Financial News featured Augmentum in their The Fintech Files newsletter:
“Listed investment trust Augmentum Fintech has had a busy few weeks.
First, it published a promising set of results that revealed an “unrealised annualised IRR” of 28% on its seed portfolio of fintech investments…
Then the company announced that it would kick off a 150m share issuance programme, starting with a £30m raising.
In a short space of time, Augmentum has assembled an enviable portfolio of disruptors. Its seed portfolio is comprised of Zopa, interactive investor, Seedrs, BullionVault, WhiskyInvestDirect and SRL Global. The fund has also made nine new investments since listing on the London Stock Exchange in March 2018: Onfido, Tide, Monese, iwoca, Previse, Farewill, Unmortage, DueDil and Intellis.
While he admits that the proof will be in the pudding, Augmentum’s chief executive Tim Levene thinks his closed-end, publicly listed investment trust is the right structure for investing in private fintech firms.
“Fintech is an emerging asset class – it’s esoteric and it’s certainly very challenging,” he said. “Ours is a closed trust, which in my view is absolutely essential when you’re backing private companies.”
Read the full article here