Fintech track record of the Management Team

The Management Team has managed Augmentum I LP (the "Partnership") since 2010.

The Investment Adviser's performance record in respect of fintech investments is set out in the table below.  This predominantly comprises investments made through the Partnership and which will comprise the Initial Portfolio (highlighted in the table), but also includes other fintech investments made under a third party mandate.

£m, December 2017

InvestmentDescriptionDateTotal CostProceedsResidual ValueGain
/(Loss
Group MultipleGross IRR
Phoenix*  Data Analytics  Feb 10  9.1  37.9  –  28.8  4.2x  34%
SRL ✝︎  Financial software  May 10  2.5  –  1.5  (1.0)  0.6x  (6%)
BullionVault ✝︎  Retail Investment Platform for physical Precious Metals  Jun 10  6.2  0.4  8.4  2.5  1.4x  5%
Borro  Asset backed lending  Feb 11  7.9  –  –  (7.9)  0.0x  (32%)
Zopa ✝  Consumer P2P Lending  Dec 12  2.5  –  18.5  16.0  7.4x  58%
Interactive Investor ✝  Retail Investment Platform  Jan 14  2.4  –  3.0  0.6  1.3x  7%
Seedrs ✝  Equity Crowdfunding  Sep 15  1.5  –  1.9  0.4  1.3x  11%
Total      32.1  38.3 33.3  39.5  2.2x  17%
APHLP
Phoenix*

 Data Analytics
 
Nov 16
 
21.2
 
4.1
 
28.5
 
9.5
 
1.5x
 
53%
Total Fintech      32.1  21.2 61.8  51.0  2.6x  19%

† The marked investments comprise the Initial Portfolio. 
* The investment in Phoenix was sold by the Partnership in 2016 to another fund managed by the Management Team but with different investors to the Partnership.

Internal rates of return (“IRRs”) are calculated from date of investment and based on cash invested and returned and the unrealised valuations as at 31 December 2017. Valuations have been audited by PwC as at 31 December 2017. Past performance is not a guide to future performance. 

Source: Investment Adviser internal records (unaudited).