Tech-focused investment company Boanerges Ltd (LON:BNRG) has started trading on the Aquis Exchange growth market segment today.
Boanerges is a special purpose acquisition company, or SPAC, and the vehicle of chief executive Richard Griffiths, who owns just shy of 71.7% of the shares.
The company raised £500,000 before expenses ahead of the float through the issue of 2.5mln shares to one individual investor.
In a statement, it said will be looking at pre-commercialisation technology companies involved in big data, machine learning, telematics and the internet of things.
“The directors believe that their broad, collective experience, together with their extensive network of contacts, will assist them in identifying, evaluating and funding suitable investment opportunities,” said the statement.
Griffiths added: “Boanerges is now well-positioned to take advantage of the tremendous opportunities that exist in a fast-moving technology sector.”
Other major shareholders include John Story with 14.2%.