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Peer2Peer Finance News | September 23, 2019

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Augmentum Capital signs up to Innovate Finance

Augmentum Capital signs up to Innovate Finance
Marc Shoffman

AUGMENTUM Capital has joined Innovate Finance as its first investor member.

The fintech trade body has welcomed the venture capital fund and said it was exploring opportunities to add more investor members in the coming months.

Augmentum Capital launched its own fintech-focused investment trust last year with a £94m initial public offering (IPO).

It is currently planning to issue extra ordinary shares in its investment trust as it looks to fund around £300m of potential opportunities in the sector.

The fund said in a stock market update earlier this month that it has now “substantially fully committed the net cash proceeds of the IPO.”

The update said there are several follow-on opportunities and a pipeline of approximately £300m, which could be funded through new shares.

Its latest holdings data shows 30.8 per cent of the Augmentum Fintech portfolio is invested in Zopa, which is valued at £22m.

Other holdings include Seedrs, Unmortgage and Monese.

Innovate Finance was launched in 2014 with the support of the City of London and Canary Wharf Group to represent the UK’s global fintech community. It has more than 250 members, ranging from seed stage start-ups to global financial institutions and professional services firms.

Peer-to-peer members of the trade body include Landbay and Zopa.

Read moreZopa investor seeks public listing for new fintech fund