In the Press
Media coverage of BullionVault

eFinancialNews: Rothschild-backed fund targets new ventures

LONDON, 9 April 2012 - World-leading gold and silver marketplace BullionVault features today on eFinancialNews, the professional investor's subscription news site, as one investment of Augmentum Capital, the £50 million venture capital fund co-managed by Tim Levene.

Backed by Jacob, Lord Rothschild - "investment banker and patriarch of the UK Rothschild banking family," as eFinancialNews puts it - and based in the offices of the £1.7 billion ($2.7bn) RIT Capital Partners investment trust in London's West End, Augmentum is "a late-stage venture capital fund, focused on European businesses with technology and e-commerce at their core," say the report.

"Deals completed by the firm have included an investment in Borro, an online pawnbroker, which received £7.5m in investment from several venture capital firms, and a £12.5m investment in gold trading platform BullionVault, in which Augmentum made a co-investment alongside the World Gold Council."

"In the last decade we have seen a new generation of UK entrepreneurs," says Tim Levene, who began his career in private equity, first in Moscow and then in Sydney, before returning to London to launch the Crush juice-bar chain, and then founding online betting exchange Flutter.

Merging with Betfair in 2001, Levene moved to Asia to help lead operations at what has become a revolution in sports betting worldwide, valued by the London stock market at £850 million ($1.4bn).

"We are now putting that experience and capital back into the marketplace - experience that didn't exist a decade ago," says Tim. "I think more entrepreneurs will begin early stage VC investing and angel investing."

You can read the full story at eFinancialNews here...

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