London, 30 July 2015 – Seedrs, one of the world’s leading equity crowdfunding platforms, has announced a £10 million Series A fundraising round led by Woodford Patient Capital Trust plc (WPCT) and Augmentum Capital.
WPCT is the £800 million investment trust launched earlier this year by Woodford Investment Management. WPCT is managed by Neil Woodford, widely considered to be one of the UK’s leading fund managers over the past 25 years. The trust invests mainly in early-stage and early-growth companies but also has exposure to some blue-chip companies.
Augmentum Capital is a venture capital firm founded in 2009 by two highly-experienced entrepreneurs and investors, Tim Levene and Richard Matthews. It backs entrepreneurs and businesses it believes have the potential to become leaders in their industries. Its first fund, Augmentum I LP, which is making the investment in Seedrs, is wholly backed by RIT Capital Partners plc, the award-winning FTSE investment trust chaired by Lord Rothschild, whose family own 18% of RIT’s shares.
In addition to the investment from WPCT and Augmentum, Seedrs will conduct a £2.5 million crowdfunding campaign to give existing shareholders and new investors the opportunity to participate. Details of the crowdfunding campaign will be announced shortly.
The fundraising round values Seedrs at £30 million on a fully-diluted, post-money basis. Tim Levene, Managing Partner of Augmentum, is joining the Seedrs Board of Directors in connection with the round.
Seedrs will use the capital raised in this fundraising round to expand significantly its marketing efforts in the UK and Europe and its platform development activities. It will also use the funds to expand into the United States following its acquisition of California-based Junction Investments, Inc., in late 2014.
Speaking about the round:
This fundraising round marks another major achievement for Seedrs and follows on a string of recent accomplishments and successes, including among others:
The fundraising round remains subject to consent by the Financial Conduct Authority and customary closing conditions.
* See http://fintechinnovators.com/
** See http://fortune.com/2015/07/01/andy-murray-seedrs/
*** See http://techcitynews.com/2015/06/04/seedrs-chosen-as-fundraising-partner-for-20m-welsh-government-startup-programme/
**** See http://www.economicvoice.com/braveheart-moves-its-crowdcube-venture-fund-to-seedrs/