Initial Public Offering of Gemini
Summary by AI BETAClose X
15 September 2025
Augmentum Fintech plc
Initial Public Offering of Gemini
Augmentum Fintech plc (LSE: AUGM) (“Augmentum” or the "Company"), Europe's leading publicly listed fintech fund, notes the Initial Public Offering (“IPO”) of Gemini Space Station, Inc, (“Gemini”), the New York-based cryptocurrency exchange and custodian bank founded by Cameron and Tyler Winklevoss, in which Augmentum has an equity interest.
Gemini commenced trading on the Nasdaq Global Select Market under the ticker GEMI on 12 September 2025. The offering comprised approximately 15.2 million Class A shares, priced at US$28 per share, valuing the business at around US$3.33 billion on a fully diluted basis. The IPO was upsized following strong investor demand and was notable for the significant participation of retail investors alongside institutional buyers. This broad base of support highlights the growing mainstream appetite for exposure to digital asset platforms, underpinned by the increasing demand for democratisation of access to IPOs for retail investors and reflects the unique retail engagement that has characterised Gemini’s community since inception. In connection with the listing, Nasdaq has agreed to invest US$50 million via a private placement, establishing a strategic partnership with Gemini across custody, staking and collateral management services.
Augmentum first invested in Gemini in November 2021 through ParaFi Capital. The Company holds a liquidation preference in Gemini and, accordingly, is entitled to receive shares with a value at IPO equal to its original investment and current carrying value. The holding will be subject to a customary six-month post-IPO lock-up period. As at 31 March 2025, Augmentum’s investment in Gemini represented 3.4% of the Company’s NAV¹.
Tim Levene, CEO of Augmentum Fintech, commented: “Gemini’s successful IPO marks an important milestone for the company and for the fintech ecosystem. We are pleased to see strong investor demand for the offering, which validates the progress Gemini has made in building a regulated and trusted platform for crypto trading and custody. The IPO provides further evidence of the increasing maturity of the digital assets sector.”
Notes
1. Percentage of NAV after performance fee.
Enquiries
| Augmentum Fintech Tim Levene (Portfolio Manager) Nigel Szembel (Investor Relations) |
+44 (0)20 3961 5420 nigel@augmentum.vc |
| Woodrow Communications Juste Rekstyte (Press and Media) |
+44 (0)20 8636 8753 press@augmentum.vc |
| Peel Hunt LLP Liz Yong, Huw Jeremy (Investment Banking) |
+44 (0)20 7418 8900 |
| Singer Capital Markets James Moat, James Fischer (Investment Banking) |
+44 (0)20 7496 3000 |
| Frostrow Capital LLP Paul Griggs (Company Secretary) |
+44 (0)20 3709 8733 |
About Augmentum Fintech
Augmentum invests in fast growing fintech businesses that are disrupting the financial services sector. Augmentum is the UK's only publicly listed investment company focusing on the fintech sector in the UK and wider Europe, having launched on the main market of the London Stock Exchange in 2018, giving businesses access to patient capital and support, unrestricted by conventional fund timelines and giving public markets investors access to a largely privately held investment sector during its main period of growth.
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund