“The London-listed investment company Augmentum Fintech (LON:AUGM) raised £94 million at its IPO in March and is making good progress towards building up a high quality portfolio of private Fintech businesses in the UK and Europe.
When it was admitted to the market it had a seed portfolio of five holdings with a value of £33.3 million already in place and since then it has added another five for a total consideration of £15 million. There are also several other new investments that are in the final stages of due diligence that will reduce the remaining cash pile of £43.9 million. Despite the high cash weighting the fund has achieved creditable NAV growth of 5.1% over the period from the IPO on 13 March to 30 September.
In the last six months the managers have seen over 350 new investment opportunities and invested in five of them with the largest commitment being a £5.9 million stake in Monese, which provides banking services to people who work abroad and need a local bank account.
These are early days for Augmentum Fintech, but it is an interesting proposition with a unique mandate amongst investment companies. The fund has an experienced management team and some fantastic holdings with loads of potential. It could be one for long-term, risk tolerant investors to tuck away.”