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Augmentum Fintech sees Onfido portfolio boost
The fund has seen its share price rally in recent weeks following a sharp drop during the onset of the market falls prompted by the corona crisis.
Augmentum fintech, the listed venture capital fund, has seen a c.3 per cent uptick in its portfolio’s valuation following two fundraises this week.
Onfido raised $100m while Previse $11m helping the fund in a period of broader stock market volatility.
Tim Levene, CEO of Augmentum Fintech says the fund’s diversified portfolio across fintech sectors means it can weather the coronavirus storm.
“We expect several of them to perform counter-cyclically and a number are already experiencing heightened demand for their products and services. Onfido and Previse are just two such companies.”
Analysts at Numis said “We believe the completion of these rounds shows that there is still appetite for fintech in the market.”
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