Venture capital investor Forward Partners Group is to float in London, raising GBP25mln in an IPO.
The firm is coming to market with an investment portfolio valued at GBP97.5mln and the IPO proceeds will be used to support investments into portfolio companies and new opportunities.
In a statement, the company said it expects its shares will start trading on London’s AIM market by mid-July, under the ticker “FWD”.
Forward Partners is including a retail offer using the PrimaryBid investment platform, allowing retail investors to access placing shares on the same terms as institutions.
“We believe it’s crucial that our industry innovates, because venture capital holds the key to unlocking the technology innovation that will build a better future for everyone,” said Nic Brisbourne, founder and chief executive.
“It supports and accelerates the work of entrepreneurs solving some of the world’s biggest problems, driving economic recovery, creating jobs and positive changes in equality, health and the environment.”
“We’re taking our firm public to realise that vision. We’ll be able to invest more, for longer – and to build new products and services founders really need.
“For founders, it means more routes to growth – more choice, more control and more support. For investors, direct access to fast growing, innovative tech businesses through a well-established, well-managed and balanced portfolio.”
Forward Partners portfolio includes
Ably – a technology company that builds real-time infrastructure for the internet;
Patch Plants – one of the UK’s leading online direct-to-consumer plant stores;
Makers Academy – a platform creating a new generation of tech talent through courses and apprenticeships;
Snaptrip – a marketplace that helps people to discover the best last minute holiday deals in the UK;
Lexoo – a technology-driven legal outsourcing solution;
Spoke – a direct-to-consumer eCommerce company that provides better fitting, better looking men’s clothes;
Apexx – a global payments platform that consolidates payments providers to improve retail conversion;
Breedr – the world’s first digital exchange for livestock;
Cherryz – an online discount retailer of low-price fast-moving consumer goods and general merchandise.
FY! – a mobile-first ecommerce marketplace designed to meet the needs of millennial shoppers;
Cazoo – an online used car marketplace designed to transform the way people buy, finance, and rent used cars;
CountingUp – one of the UK’s leading small business banking apps with built-in accounting features.
Wonderbly – a vertically integrated publishing start-up from London;
Juno – a platform that brings together legal expertise with software and artificial intelligence to offer conveyancing that’s clear, convenient and reliable;
Appear Here – an online marketplace for retail space.