REG-Augmentum Fintech Plc: Portfolio Company Onfido Acquired by Entrust

Augmentum FintechAnnouncement

09/04/2024 12:15

9 April 2024

Augmentum Fintech plc

Portfolio Company Onfido Acquired by Entrust

Augmentum Fintech plc (LSE: AUGM) (the “Company”), Europe’s leading
publicly listed fintech fund, notes the announcement by Entrust that they have
completed their acquisition of Onfido, a portfolio investment of the Company.

Augmentum’s understanding of the terms of the transaction implies a
valuation of the Company’s investment in Onfido at £10.1 million (30
September 2023: £9.7 million representing 3.6% of the value of the
portfolio).

The Company initially invested in Onfido the AI-powered digital identity
verification business in March 2018 with a £4.0 million investment as part of
a US$50 million funding round, with a further £3.7 million in December 2019.
This exit will represent a multiple of 1.3x cost and an IRR of 6%.

The sale to Entrust, a global leader in identity, payments, and data security
solutions, is Augmentum’s sixth exit, each of which has been at or above the
Company’s holding value.

This announcement does not constitute or describe an updated NAV of the
Company.

Enquiries

 Augmentum Fintech  Tim Levene (Portfolio Manager)Martha Horrox (Marketing and IR)     +44 (0)20 3961 5420   
                                                                                       martha@augmentum.vc   
 Quill PR  Nick Croysdill, Sarah Gibbons-Cook(Press and Media)                         +44 (0)20 7466 5050   
                                                                                       press@augmentum.vc    
 Peel Hunt LLP  Liz Yong, Huw Jeremy(Investment Banking)                               +44 (0)20 7418 8900   
 Singer Capital Markets  Harry Gooden, Robert Peel, James Fischer(Investment Banking)  +44 (0)20 7496 3000   
 Frostrow Capital LLP  Paul Griggs (Company Secretary)                                 +44 (0)20 3709 8733   

About Augmentum Fintech

Augmentum invests in fast growing fintech businesses that are disrupting the
financial services sector. Augmentum is the UK’s only publicly listed
investment company focusing on the fintech sector in the UK and wider Europe,
having launched on the main market of the London Stock Exchange in 2018,
giving businesses access to patient capital and support, unrestricted by
conventional fund timelines and giving public markets investors access to a
largely privately held investment sector during its main period of growth.



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