Schroders Capital Global Innovation Trust PLC - London-based investment trust focused on a diversified portfolio of global private and public equity companies - Says that its portfolio company, Atom Bank, has raised GBP100 million in new equity capital from existing shareholders BBVA, Toscafund and Infinity Investment Partners. The funds will be used to accelerate lending and balance sheet growth as the bank continues to scale. Following this, Schroders says its holding in Atom Bank has been revalued to GBP23.1 million. Explains that this revaluation will result in a negative fair value impact of GBP8.6 million relative, to the holding value as of June 30 of GBP31.7 million.

Lead Portfolio Manager Tim Creed & Co-Portfolio Manager Harry Raikes say: "Whilst the valuation impact of this fundraise is disappointing in the short term, this significant investment is a good signal of confidence in Atom Bank. The company now has the capital to scale up and demonstrate the operating efficiency of its platform. Although much work remains, Atom Bank is one step closer to a planned future liquidity event."

Current stock price: 15.23 pence

12-month change: down 1.8%

By Holly Beveridge, Alliance News reporter

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