Augmentum Fintech has increased the target size of its upcoming share issue from approximately £40m to up to £55m.
The Zopa backer and fintech investment firm said that it made the decision after considering the strong level of support received from potential investors in the initial issue and the depth of the portfolio manager’s pipeline of investment opportunities.
The board will cap the initial issue at £55m.
Augmentum Fintech, which invests in fintechs, said all valid applications received in respect of qualifying shareholders’ open offer entitlements under the open offer are expected to be met in full.
The company said that any oversubscription under the initial placing, excess application facility, offer for subscription and intermediaries offer subscription will be dealt with by a scaling back exercise.
In June, the fintech-focused investment trust unveiled a $10m (£7.3m) investment in Tesseract Group, a Finnish listed company that provides the infrastructure for institutions to invest in cryptocurrencies.
Also last month Augmentum Fintech said it will use an upcoming general meeting to ask shareholders to approve a change in its investment strategy, to allow it to offer funding to seed-stage companies in the fintech sector.