Launched in mid-March 2018, Augmentum Fintech targets private (unlisted) financial services technology companies which the managers believe have the potential to grow quickly, based predominantly in the UK and wider Europe. Once fully invested, the managers anticipate a portfolio made up of 15 to 20 holdings. This will be diversified across geographical areas within the UK and Europe. At the time of writing, the portfolio is comprised of six companies. Augmentum Capital manages the company; co-founders Tim Levene, Richard Matthews and Perry Blacher are responsible for managing the trust and bring signifcant experience within the technology and finance industry. All three individuals originally formed a part of Flutter.com, which later merged with Betfair. The trust is backed by RIT Capital Partners, a long-standing investment trust chaired by Lord Rothschild, which has invested £10m. The shares currently trade at a 2% premium to the launch NAV. Given the underlying investments are private (unlisted), the company will be publishing NAVs following two formal valuation processes each year, conducted as at 30 September and 31 March. The first calculation will be as at 30 September 2018.
