Augmentum Fintech is planning a new fundraise to support new investments in its portfolio.
The fintech-focused investment trust said it has a “strong pipeline of investment opportunities.”
The fund, which includes an investment in peer-to-peer lender Zopa in its portfolio, raised £28m through an oversubscribed share placing in October and said there is still more demand.
“There is enduring demand from fintechs for patient capital from investors with sector focus and expertise in the market,” a stock market update from Augmentum Fintech said.
“Accordingly, the company is considering the issue of new ordinary shares to fund additional investments with the aim of delivering further value for the company’s shareholders.
“Such a fundraise would follow the publication of an updated net asset value of the company and a prospectus. Further details will be announced in due course.”
Augmentum Fintech received a £6.2m boost to its portfolio in April after it sold its holding in digital bookkeeping platform Dext and upped its stake in German rentals website Grover.
The investment trust is currently trading at a premium to net asset value of 34.5 per cent.
Analysts at Numis have previously predicted that Augmentum Fintech may go for a share placing to help reduce its “elevated premium.”