THE JUNIOR stock market’s biggest broker Finncap announced a tie-up yesterday with Darwin Strategic to give high growth companies access to more capital, underscoring London’s drive to boost start-up businesses.
The agreement will see Darwin, which is owned by FTSE 250-listed money manager Henderson Global Investors, offer its equity fundraising product to Finncap clients.
Darwin offers firms an equity fundraising facility, which gives the option to tap a line of equity financing without diluting the price of a firm’s shares by setting a price floor on the share offer.
“We want to augment fundraising,” Darwin chief executive Anand Sambasivan said. “We try and find the most efficient way for a company to raise capital.”
The move has been propelled by initiatives to attract companies in high growth sectors like technology and biotech to raise capital in London.
In February, the London Stock Exchange announced plans for a so-called high growth segment for companies that sit between the junior market and the main market.
Finncap is lead adviser in technology, industrials and healthcare sectors across the market.