Daron Lee lists investment bank XCAP on AIM market for £17.5m

INVESTMENT bank XCAP will list on the Alternative Investment Market today with a market capitalisation value of around £17.5m. The firm has already raised £5m ahead of the listing.

XCAP received approval to act as an investment bank from the FSA in May and the corporate team have already completed five fundraisings for AIM companies since then.

They have also been appointed as broker to eight AIM companies.

Established by Chris Potts and Daron Lee in 2009, XCAP was created to provide investment banking services to small and mid cap companies.

Daron Lee is the man behind the development of trading system Proquote, which he sold to the London Stock Exchange in 2003 for between £10.9m and £22m.