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- First half recurring cash revenue rises 4 per cent to £12.7mn
- First half free cash flow dips to £5.9mn due to fewer exits
- Deployed over £15mn into existing capital partners
- Post period end £23.5mn equity raise
Hybrid funding provider Duke Capital (DUKE:30.75p), a company that takes equity stakes in profitable, owner-operated businesses and provides long-term capital in exchange for a percentage of future revenues, is looking to attract third-party capital and transition to a self-funding capital light business model.
This seems a natural progression for a group that has established an eight-year track record and proven the resilience of its business model in a challenging economic and market environment. Duke has closed 22 deals of which seven have been bought out very profitably. A similar strategy is being successfully deployed by another favourite, Litigation Capital Management (LIT:100p), a provider of litigation financing.