Technology investor Tern PLC (LON:TERN) has raised £525,000 of new capital through the issue of new shares.
It is issuing 6.56mln shares priced at 8p each.
The injection of funds is expected to be used to develop the businesses of Tern’s existing portfolio companies, including Internet-of-Things security specialist Device Authority.
Angus Forrest, Tern executive chairman, in a statement said: “Device Authority is trading to budget and making considerable progress in its marketplace.
“Additionally, the newly acquired businesses have generated several new commercial opportunities in the past three weeks.”
Via a £2mln investment Tern previously secured a 52.4% stake in Device Authority.