An investment vehicle backed by Jacob Rothschild plans to plough up to £125million into financial technology firms.
Augmentum Capital, which was set up by entrepreneur Tim Levene, a former executive at online gambling firm Betfair and son of City grandee Lord Levene, will raise the money through a stock market listing in London.
A maximum of 125m shares in a newly created investment company called Augmentum Fintech will be sold to investors for £1 each.
Investment trust RIT Capital Partners, which is chaired by Lord Rothschild, 81, will pump in £10million while Augmentum management, including Levene, 44, will provide £2.7million.