Augmentum

Augmentum Fintech was the UK’s first publicly listed investment company focused on UK and European fintech. After an initial period in private ownership, Augmentum listed on the London Stock Exchange in March 2018, further building on a portfolio of high-growth financial technology businesses, including Interactive Investor, Cushon, BullionVault, Tide, Zopa and Iwoca.

That portfolio and track record ultimately attracted Verdane Fund Manager AB, a Scandinavian private equity firm specialising in tech-enabled and sustainable businesses, whose acquisition vehicle acquired Augmentum in a £185.7 million transaction, taking the company back into private ownership.

Cavendish acted as Sole Financial Adviser and Rule 3 Adviser to Augmentum. With members of the Cavendish team having supported the company across its full lifecycle as a listed entity – from IPO, through additional fundraises, portfolio realisations and broader strategic initiatives –  our cross-firm team expertise was perfectly placed to advise on a strategic review and sale process, requiring deep public markets and M&A expertise, the context of investment companies and their shareholders’ wishes, a clear view of the private capital landscape, and the investment criteria of specialist technology-focused funds.