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Although England is currently under a second national lockdown and a number of UK Government schemes, including the Coronavirus Business Interruption Loan Scheme, have been extended into 2021, this has not dampened the secondary fundraising market on AIM.
With AIM attracting businesses that are looking to scale-up and some of the more traditional funding sources, such as private equity and venture capital, focusing on their existing portfolios, the secondary fundraising market has been buoyant. AIM companies have raised c£4.1 billion up to the end of October 2020, with sectors including healthcare and clean energy being particularly attractive to investors.
Burges Salmon has recently advised ITM (a manufacturer of integrated hydrogen energy solutions) on the third largest raise on AIM in 2020, giving it access to capital to ensure it is well placed to take advantage of opportunities as we move into 2021. This shows that investors are still on the look out for investment opportunities. Time will tell whether this trend continues but there is no doubt that 2020 has been a strong year for the AIM market.
"By concluding the third largest fundraise on AIM this year this is also testament to the access to capital which AIM has been able to deliver since the start of the pandemic, allowing AIM companies both to shore up their balance sheets and also to raise capital to ensure they are well placed to take advantage of opportunities, as the world begins to look beyond COVID.”
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