Audioboom AIM flotation nets London Business Angels investors a potential 25x + return
Audioboom, an early stage technology company presented to London Business Angels (LBA) investors in October 2009 and raised circa £200k from LBA investors as part of a circa £600k funding round in May 2010. Some initial LBA investors who invested in 2010 have seen their original stake rise by over 25x in the last four years particularly since Audioboom floated onto the AIM market in February 2014. The company which is commercialising an innovative audio-sharing social media platform that enables the creation, broadcast and syndication of audio content across multiple global verticals was floated onto the AIM market at an initial offering price of circa £0.50. Since floating, the company’s share price has risen to over £14.00, yielding a market capitalisation of circa £75m. The company raised new money of £8m earlier this month at a price per share of 12.5p in order to fund its further growth.
Anthony Clarke, London Business Angels CEO, ” AudioBoom is an excellent growth story for angel backed SMEs floating on AIM and reflects the range of options potentially available to high growth technology companies. My congratulations to a syndicate of LBA investors who have supported this company and now have the potential for a 25x on their initial syndicated investment potentially turning £200k into £5m+.”
About London Business Angels
LBA is one of the most experienced private angel networks in the UK. Since the early 1980s the network has been connecting innovating fast growth small and medium sized enterprises with investment through our network of business angel investors. LBA, part of Angel Capital Group, is professionally managed by a highly experienced management team, leveraging over 15 years’ experience in the early stage investment marketplace as established leaders in the development of new angel-led early stage investment initiatives, and nearly 30 years’ investing experience through the LBA network. LBA is a founding member of the British Business Angels Association, the industry’s best practice trade association, and is also a member of EBAN, the European Business Angels Network.
About the LBA EIS/SEIS Approved RoundTable Syndicate Funds
The LBA EIS Approved RoundTable Syndicate Fund is the culmination of 30 years’ experience of pioneering innovation in the UK Angel investment market. This FSA regulated HMRC Approved EIS Fund offers LBA Investors an innovative way to acquire a portfolio of investments, while taking advantage of the personal tax relief offered by the Enterprise Investment Scheme. The First £300k LBA EIS RoundTable Fund 2010 was fully invested in January 2011, making four investments in leading edge technologies during the previous year, spread across a range of sectors: Eykona (medtech); Syrinix (cleantech); ipadio (mobile); The Electrospinning Company (nanotech).
Following the successful 2010 Fund, the LBA EIS Approved RoundTable Syndicate Fund 2011-12 closed for subscriptions on 13 May 2011, being 40% larger at £420k. The fund invested in 5 leading edge technologies spread across a range of sectors: Camstent (medtech), Momentum Bioscience (medtech), Phase Vision (high value manufacturing), Michelson Diagnostics (medtech), Isotera (cleantech)
The LBA EIS Roundtable Syndicate Fund 2012, closed for subsciprtions on 5th April 2012 at £455k. The fund invested in 6 early stage companies.
The LBA EIS Roundtable Syndicate Fund 2013, closed for subscriptions on 5th April 2013 at £290k. The fund invested in 6 early stage companies.
The LBA EIS Roundtable Synducate Fund 2014 closed for subscriptions at £695k on 4th April 2014. The fund will seek to co-invest alongside London Business Angels in the next 12 months
The LBA SEIS Roundtable Syndicate Fund 2012, closed for subscriptions on 19th October 2012 and will seek to co-invest across 6-7 SEIS eligible deals alongside LBA investors