Ludgate Environmental Fund (LEF), an AIM-listed investment company focused on clean technology, has raised £18 million of new capital.

Ludgate Environmental Fund (LEF), an AIM-listed investment company focused on clean technology, has raised £18 million of new capital.

The fundraising takes LEF’s assets to £50 million, after the company raised £26.7 million in its initial public offering in August 2007 and an additional £3 million in February this year.

The new money was raised at 108.71p, compared with 97.3p at AIM admission last year.

Nick Pople, director of LEF’s investment adviser Ludgate Investments, says the fund has invested in six companies since its launch, all of which are revenue-generating.

Pople adds, ‘We have continued to see strong investor interest in the sector through the economic downturn. We are also seeing more attractive company valuations in current markets than earlier this year.’