Tech-focused venture capital firm Forward Partners will list on London’s AIM market later this month with a market capitalisation of £134.6m.
The firm said that its listing was oversubscribed, and would raise proceeds of £36.5m, which it will use to fund future investments.
Blackrock and Draper Espirit are both backing the listing, having committed to £15m and £2m worth of Forward’s shares in the placing.
That means that the former will own 70.4 per cent of the firm upon admission, which is expected on 19 July at 8:00 AM.
Nis Brisbourne, chief executive of Forward Partners, said: “It’s fantastic to see the strong demand from both institutional and retail investors, who support our vision of democratising access to venture capital, and specifically high growth, UK based technology start-ups.
“Through our listing, which was oversubscribed, we can take a longer-term approach to building stronger businesses. That is essential to developing solutions to the world’s problems and driving the UK’s economic recovery post pandemic.”
Founded in 2013, Forward Partners provides early-stage capital to high growth, early-stage technology businesses.
It brings together venture capital provider Forward Ventures, equity-free revenue-based financing through Forward Advances and specialised growth support from Forward Studio.
Its portfolio consists of 46 technology companies, and its investments have posted strong performances in the eight years since it was founded, recording a 25 per cent rate of return.