SyndicateRoom Series A pushed beyond £2m by £1m VCT investment

SyndicateRoom, which opened its £2.3m series A round to the public at 9.00am on Tuesday, placing a £25m pre-money valuation on the business, announced at 6.00pm the same day that Unicorn AIM VCT had joined the fundraise to the tune of £1 million. The injection immediately took the round to £2,143,963 and by Thursday evening it stood at £2.64m, over-funding by 15%.

In a strong sign of support, the business had already raised more than £800k through existing investors taking up their pre-emption rights, including significant new money from lead investor, Jonathan Milner.

Chris Hutchinson, Director and Senior Fund Manager of Unicorn AIM, said:

‘Unicorn AIM VCT invests predominantly in the shares of AIM-quoted companies with the potential to deliver strong capital growth and meaningful dividend income over the long term. In exceptional circumstances, Unicorn AIM VCT may invest in earlier stage companies that demonstrate the potential to become publicly quoted and deliver significant shareholder value".

Hutchison went on to say that Unicorn was attracted by the strong management team at SyndicateRoom, the sound financial controls and the potential for good cash generation.

In March 2016, SyndicateRoom entered the equity capital markets by becoming a member of the London Stock Exchange, enabling crowdfunding investors to participate in IPOs and placings on the same terms as institutional investors. With this new capability, SyndicateRoom can support companies from the ideas stage, right through to IPO.

Gonçalo de Vasconcelos, CEO and Co-Founder of SyndicateRoom said:

“We now have evidence that there is strong appetite for equity investment in the UK – for private companies and for those in the public markets. We therefore expect significant growth ahead, and most important for me is addressing the high number of people in the UK who would like to become equity investors, but do not know where to start. That is why we are raising funds for SyndicateRoom, to address this large market of potential investors and support the next stage of start-ups and high growth businesses in the UK".

Posted: 13th of May 2016


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