A company established to invest in technology and software firms has raised more than £10m after floating on the AIM market of the London Stock Exchange.

KRM22, which will have a particular focus on risk management in capital markets, first unveiled its IPO plans earlier this month.

The London and Brighton-based business has raised £10.32m through a share issue and has been admitted to AIM with a market cap of £12.32m.

KRM22 is led by Keith Todd CBE in his role as executive chairman and CEO, Karen Bach in her role as chief operating officer and Stephen Casner as the company’s US chief executive.

Together the team intends to use its experience and successful track records in the software and tech industry to drive business transformation and growth from a portfolio of investee companies.

"Our strategy will see us invest in companies with clear, high quality, subject matter expertise as we seek to execute our investing policy," Todd said.

"The target and focus of our investment is risk: primarily risk in the Capital Markets which is currently poorly served by a fragmented supplier base and no one, real-time Software-as-a-Service enabled view of the true risks a business faces."

He added: "We start our journey with a strong pipeline of investment opportunities. I am excited about the opportunity to lead a great team to deliver our vision and have been overwhelmed at the support we have had from investors, partners, prospects and our KRM22 team members."

Todd is also non-executive chairman at search engine WhaleSlide and has held the position of chairman at Amino Technologies Plc since January 2007.

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