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Memery Crystal advise Cenkos and Hybridan on $18.5m fundraise for TMT Investments

11/10/2021

At a glance

Memery Crystal has advised brokers Cenkos Securities plc and Hybridan LLP on a $18.5m fundraise for TMT Investments plc, the AIM-listed venture capital company investing in high-growth technology companies across a number of core specialist sectors. TMT Investments also carried out a PrimaryBid offer, raising a further $0.8m and taking TMT Investment’s gross proceeds from the fundraise and PrimaryBid offer to $19.3m.

The net proceeds of the fundraise will be deployed by TMT Investments towards its pipeline of new and potential follow-on investments in accordance with its investment policy.

Claire Noyce, Chief Executive of Hybridan LLP, commented: “TMT Investments plc has a fantastic track record and this fundraising, completed at a premium to the Company’s most recently reported NAV, will enable it to continue its growth strategy of investing further into its strong existing portfolio and into new technology opportunities. Hybridan are glad to have worked again with Memery Crystal who are commercial, pragmatic, always available and great at doing that sometimes not easy role of advising joint brokers.

The Memery Crystal team was led by our corporate senior associate Robert Black, who was assisted by associate Oliver Perkins.

Commenting on the deal, Robert Black said: “It was a pleasure to assist Cenkos and Hybridan on this fundraise for TMT, which has a portfolio of 45 companies and has made 25 investments in new and existing portfolio companies so far this year. Memery Crystal has a strong track record in acting broker-side on fundraisings, which complements our capital finance and corporate practices.”

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