Technology venture investment firm Fatfish Group (ASX: FFG) has emerged from a self-imposed trading halt this morning to announce an oversubscribed capital raise to the tune of $1.5 million.
According to the deal’s lead manager, leading Melbourne-boutique Peak Asset Management, the raise received significant interest with over $7 million in offers received from new and existing investors.
Fatfish is considered an internet incubator, with a large number of companies in its investment portfolio including notable ASX debutants such as iCandy Interactive (ASX: ICI).
The group also owns 51% of Swedish-listed Abelco Investment Group AB, an investment group with operations in Scandinavia and South East Asia.
According to Abelco, its mission is to “deliver strong returns to our shareholders through a contrarian investment strategy executed via our venture building model”.
Deploying raised capital
With an additional $1.5 million on its balance sheet, Fatfish said it will utilise the funds to develop existing and new ventures, especially in the fintech area.
Notably, Abelco owns stakes in several companies that impact Fatfish’s position, given its large holding in the investment group.
