Augmentum Fintech Share Discussion Threads

[toffeeman] 15/4/2024 15:03

supply>demand

[dickiehhh] 15/4/2024 08:14

Why the drop today?

[rimau1] 15/4/2024 07:35

Zopa announces a profit as it nears IPO https://www.ft.com/content/72e50a62-57e8-495e-b919-e6c610e1099b

[rimau1] 10/4/2024 08:49

I would seriously consider a tender offer with the 10m additional cash funds from Onfido at say 1.20 a share for a 1:17 reduction, caveat i have not done the math. We have too much cash and the market is not valuing us anywhere near FV given successful redemptions over the past few years.

[wsm812] 10/4/2024 08:25

Bought back in this a.m. Taken the view that this is still great value and under priced......just waiting for the market to agree with me! Haha. There was a 5% spread, which is annoying.

[rimau1] 10/4/2024 06:54

Excellent news. Fintech as we know has been in a bear market with the rate cycle so to still achieve a premium to NAV on one of the less attractive holdings really supports the valuation and business case here.

[888icb] 10/4/2024 00:13

RNS Portfolio Company Aquired:
“ Augmentum Fintech plc

Portfolio Company Onfido Acquired by Entrust

Augmentum Fintech plc (LSE: AUGM) (the “Company”;), Europe’s leading publicly listed fintech fund, notes the announcement by Entrust that they have completed their acquisition of Onfido, a portfolio investment of the Company.

Augmentum’s understanding of the terms of the transaction implies a valuation of the Company’s investment in Onfido at £10.1 million (30 September 2023: £9.7 million representing 3.6% of the value of the portfolio).

The Company initially invested in Onfido the AI-powered digital identity verification business in March 2018 with a £4.0 million investment as part of a US$50 million funding round, with a further £3.7 million in December 2019. This exit will represent a multiple of 1.3x cost and an IRR of 6%.

The sale to Entrust, a global leader in identity, payments, and data security solutions, is Augmentum’s sixth exit, each of which has been at or above the Company’s holding value.”

[skyship] 06/4/2024 13:53

David Stevenson's Adventurous Investor Newsletter:
--------------------------------------------------

Veteran investment trust fund manager buys into Augmentum. Peter Hewitt, director, and fund manager in Global Equities, who runs the CT Global Managed Portfolio Trust at Columbia Threadneedle has bought into listed fintech VC Augmentum. I think this niche fund is excellent and I talked about this fund in 2022. I plan to add the fund to my watch list in the coming weeks.

According to Hewitt: “Augmentum Fintech is Europe’s only leading publicly listed fintech fund and is a unique private equity trust that provides exposure to one of the fastest growing sectors of the UK fintech economy. The portfolio is filled with exciting new young companies with dynamic growth prospects in the banking, insurance, and asset management sectors. Valuations are very conservative as is the balance sheet which has net cash. Led by Tim Levene and an experienced management team who have an excellent track record of successful investment in fintech. The shares trade on a 37% discount to NAV and have a market value of £170m.” I agree with the bullish verdict - I’ll discuss in greater detail next week..

[skyship] 05/4/2024 13:31

Surprised to see these sink back below 100p; especially with the overall Market so strong. NAV discount back up to 38%.

[makinbuks] 11/3/2024 10:52

I prefer trade sales because they are clean. In a IPO the PE or VC fund never sells 100% and almost always the price falls after IPO

[rimau1] 08/3/2024 15:19

Subtle plug in the IC on an article for which IT's will benefit from an improvement in IPO conditions. "Mick Gilligan, head of managed portfolio services at Killik & Co, pointed to Zopa, the online bank expected to IPO in the near future, and an 11.6 per cent position in AUGM

[makinbuks] 04/3/2024 16:42

Yes good spot and I hadn't realised that Apax were an investor

[rimau1] 01/3/2024 20:09

Good spot Jeff, alas AUGM are too efficient since they already value Tide at $1bn. AUGM own 5.1% and it is in the books Sept'23 at gbp41m. At least we can take confidence in their valuations and NAV!

[jeff h] 01/3/2024 16:19

Tide nears $1 billion valuation:-

[riverman77] 23/2/2024 16:12

Would expect one of the big banks to buy up Tide before too long.

[rimau1] 23/2/2024 15:41

I opened a Tide business account this week. Very impressive with a linked instant access savings account paying 4.33%, usually takes less than 24hrs to open but due to unprecedented demand i was told to allow 72hrs for account opening. Hopefully bodes well for Tide to keep taking SME market share

[skyship] 13/2/2024 17:08

Judging from the MACD it would seem as though the 50% FIB retracement is scooping up the sp:


free stock charts from uk.advfn.com

[riverman77] 07/2/2024 15:24

Yes and Onfido is one of their weaker investments, so if they can sell this at book they should be able to sell some of the others at a big premium. Cash adjusted discount must be around 50% now.

[rimau1] 07/2/2024 14:55

Another £10m if the sale executes at or slightly above book value. Excellent news. Book value is a big win of course given it equates to over £1.60 a share and Mr Market clearly doesn't believe the valuation.

[riverman77] 07/2/2024 13:10

Another successful exit -Onfido is only around 3.6% of the portfolio and sale in line with book value, but still a positive development and will swell their cash position even further.

[rimau1] 07/2/2024 10:29

Encouraging that Tim loosened the purse strings yesterday with a £4m investment into Artificial Labs. First new investment for a while which implies that the cycle is turning.

[skyship] 07/2/2024 10:09

Surprised these have pulled back quite so far - rebuilt my stake too soon!

NAV discount back up to 40%; so again looking cheap.

[rimau1] 02/2/2024 10:36

Its Macro riverman nothing specific. Markets just got ahead of themselves on rate cut timings. Tide and Zopa are IPO ready, Grover is harder to judge and out of the 3 is the one i worry about. Tide should be a trade sale exit IMO. Nice bolt on for a mid size challenger bank. Related to Zopa, Atom and Starling are getting twitchy and looking at potential IPO's so this would help with a rerate if markets continue to recover

[riverman77] 02/2/2024 10:24

The only justification for recent fall is if there are some known issues at one of their 3 large holdings - Tide, Grover and Zopa. Not aware of anything myself, although don't follow them particularly closely.