Braveheart, which backs technology companies with investment, has conditionally raised £6.64m prior to its flotation on AIM later this week.
The company is due to float on the market on Friday and is expected to have a market capitalisation of £21.45m.
The placing will include 3.99m new ordinary shares and 160,725 existing shares to be traded at an initial price of 160 pence each.
Braveheart, formed in 1997, has made a number of investments in young companies, such as microelectronics company Microstencil and university spin-out Ni-Tech Solutions.
Geoffrey Thomson, chief executive of Braveheart, said: “The capital we have raised, will ensure that the Company is adequately capitalised to implement its near-term objectives.
“We are delighted that the public will now be able to participate in what we are doing by holding shares in our company, and we are looking forward to developing and strengthening our business.”
Panmure Gordon has been selected as the broker, nominated adviser and sole book runner for the flotation.
Admission should occur at 8am on March 30, 2007 and the company will trade under the code BRH.
© Crimson Business Ltd. 2007
