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AUGM

Augmentum Fintech PLC

Financial Services First-pass screen £183m
420/1000 Overall fit
AI beneficiary 35% 38
Operating leverage 25% 42
Valuation 25% 45
Downside protection 15% 47

First-pass take

Fintech investment fund with indirect AI exposure through portfolio; trading at 47% discount to NAV reflecting market skepticism about private valuations. Portfolio concentration (78% in top 9) and £26.3m Grover writedown raise credibility concerns, offsetting strong 31% revenue growth.

Flags

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