In order to achieve its investment objective, the Company invests in early or later stage investments in unquoted fintech businesses. The Company intends to realise value through exiting the investments over time. The Company seeks exposure to early stage businesses which are high growth, with scalable opportunities, and have disruptive technologies in the banking, insurance and wealth and asset management sectors as well as those that provide services to underpin the financial sector and other cross-industry propositions.
An annual fee of 1.5% of the NAV, falling to 1% in excess of GBP 250m. Incentive fee is 15% of the net realised cash profits from the investments and follow-on investments made over the relevant period once the company has received an aggregate annualised 10% realised return on investments.
The Company invests with the objective of achieving capital growth over the long term and it is not expected that a revenue dividend will be paid in the foreseeable future. The Board intends only to pay dividends out of revenue to the extent required in order to maintain the investment trust status of Company.