Seedrs Raises $15.6M To Launch In US

CrowdFundBeat News Wire

The round is being led by two of Britain’s most prominent and respected institutional investors, Woodford Patient Capital Trust (WPCT) and Augmentum Capital:

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  • WPCT is the £800 million investment trust managed by Neil Woodford, who is widely considered to be one of the UK’s leading fund managers over the past 25 years.
  • Augmentum Capital is a leading venture capital firm whose current fund is wholly backed by RIT Capital Partners plc, the award-winning FTSE investment trust chaired by Lord Rothschild.

WPCT and Augmentum are investing £7.5 million between them. The other £2.5 million will be made available to current shareholders and new investors through a Seedrs crowdfunding campaign.

Details about the crowdfunding campaign, including information about how existing shareholders can make follow-on investments, will be provided shortly. More information about the fundraising round in general is available on our blog, in the Financial Timesand on TechCrunch.

Equity crowdfunding platform Seedrs has raised a $15.6 million (£10 million) Series A round led by Woodford Patient Capital Trust plc (WPCT) and Augmentum Capital, the money from which will be used to launch in the U.S. market. Seedrs had previously raised $7.2 million from Faber Ventures and it’s own crowdfunding campaign.

Furthermore, Seedrs is to launch a £2.5 million crowd funding campaign to give existing shareholders and new investors the opportunity to participate in the round. The details will be announced later.

Seedrs plans to now expand its marketing efforts in the U.K. and Europe, increase platform development activities and launch its business in the United States.

This fundraising now values Seedrs at £30 million on a fully-diluted, post-money basis. Tim Levene, Managing Partner of Augmentum, is joining the Seedrs board of directors in connection with the round.

In the U.K. Seedrs competes with CrowdCube, which has so far raised $6.5 million from Balderton Capital and Crowd Capital Ventures in a Series B.

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