2025 was the year AIM showed its resilience, rising nearly 10pc after enduring years of higher interest rates in the wake of the pandemic and continued economic and geopolitical uncertainty.
Author: Total Market Solutions
It’s been the market’s best year for fundraising since the boom year of 2021: by the end of August AIM-listed companies had raised £2.1bn from IPOs and secondary fundraisings (shares sold by current shareholders rather than issued by the company itself), more than double the £889m raised in the previous 12 months.
AIM has continued to dominate Europe’s growth markets, accounting for 53pc of all capital raised across European small cap indices over the past five years: more money than its five nearest European rivals combined. IPOs on London’s junior market rebounded through the 2024/25 financial year, 16 companies listing so far against just nine last year. The average amount of new money raised per IPO was £9.9m, up from the low of £6.8m recorded in 2022/23.
And there are good grounds for believing the revival will gather pace in 2026. The brutal shakeout over the last few years has left a core of higher quality, better capitalised companies better able to inspire investor confidence. As a junior market AIM is particularly well positioned to benefit from the prospect of lower interest rates that will ease the debt burden of smaller companies. And it is a particular focus of ongoing efforts by policy makers (across all major parties) and regulators to improve the competitiveness of London’s markets and direct more investment into UK assets.
In his annual review of the small cap sector Investors’ Chronicle associate editor Simon Thompson notes that UK equities continue to be undervalued relative to US shares, particularly AIM-listed tech. Plenty of opportunities exist for canny stockpickers amid the many small caps with low earnings multiples.
The prospect of lower interest rates and – in due course – market reform augur well for AIM’s continued recovery in 2026. And though investors rightly look to the junior market for short-term gains they should not lose sight of one of the most well observed market patterns, frequently highlighted by TMS: the tendency of small caps to outperform their larger counterparts over time. The pattern has asserted itself in recent history, small and mid-sized companies generating a return premium over their larger peers of 6pc between 2009 and 2021. AIM was designed precisely to provide a framework for small cap growth over extended periods.
For investors willing to do their homework, manage risk, spread their money over different sectors, and hold on to promising shares through tough times, AIM offers as many opportunities as it ever has.
Here, we look at 10 Companies from a variety of sectors that have performed in 2025 or which may be positioned for a better year ahead.
Blue Star Capital (AIM:BLU)
Investment firm Blue Star Capital (AIM:BLU) has soared this year as it has forged ahead with groundbreaking technologies designed to bring blockchain to the world’s foreign exchange markets.
BLU also has stakes in the rapidly developing esports and biometric sectors, but the company’s primary interest is a holding of more than 50pc in SatoshiPay, focused on integrating blockchain technology into the massive foreign exchange (FOREX) market. SatoshiPay is working to allow FOREX traders and other business-to-business customers to transact, trade, and earn interest without banks or middlemen.
SatoshiPay’s Forex system uses two core technologies. Pendulum Chain, incubated and developed by SatoshiPay, is a blockchain optimised for the seamless exchange of tokens representing government-issued currencies. Pendulum acts as a bridge between ‘fiat’ money – a crypto term for regular money – and DeFi networks. Entire DeFi ecosystems can be developed on the chain, including lending protocols and Forex optimised money markets.
Vortex Finance, which was also incubated and is still wholly owned by SatoshiPay, is one such system, a cross-border payments platform running on Pendulum’s infrastructure. Vortex allows stablecoin cryptocurrencies to be seamlessly converted into fiat currencies, opening up the foreign exchange markets to the efficiency and cost savings associated with smooth blockchain transactions.
A stablecoin is a cryptocurrency that allows users to trade digital coins without the volatility associated with tokens such as Bitcoin or Ethereum. Traders can use stablecoins to enter and exit cryptocurrency markets, moving money in and out safe with the security that their value will hold. Cross-border stablecoin payments were valued at $27bn in 2023 and are projected to reach $137bn by 2028, rapid growth indicating a $14bn volume market opportunity over the next four years.
SatoshiPay’s Vortex platform gives users the flexibility to move seamlessly between fiat currencies and stablecoin. Vortex is currently available across Europe and has a significant presence in Brazil, with new jurisdictions planned. At 0.25pc Vortex’s fees are well below foreign exchange averages. And while many providers offer ‘no fee’ while hiding a markup in the exchange rate Vortex is transparent, showing fees upfront. The platform is optimised for business as well as individuals: Vortex offers tailored solutions for companies looking to integrate their platform into their services.
With BLU’s support, SatoshiPay has made strong progress this year. SatoshiPay entered the summer reporting accelerating growth, Vortex achieving $1m in transaction volumes since launching in Europe and Brazil, recording $507,000 of the total in May alone. In June BLU announced it had increased its holding in SatoshiPay to 50pc, and the following month concluded a £1.15m placing, of which £1m was lent to SatoshiPay to support Vortex’s continued expansion and to develop SatoshiPay’s growing digital assets treasury. So-called ‘Bitcoin treasuries’ have grown spectacularly over the past year, with companies taking advantage of crypto’s long rally to buy up as many coins as they can afford, and holding them as they might hold cash or bonds.
BLU’s strategy is bearing fruit, the company reporting that since its inception the Treasury has realised and withdrawn yield of €21,647.70, rising at an average annualised rate of 18.76pc based on yield realised since 27 August this year. The gross portfolio value of the Treasury stood at €1,228,677 (€1,203,585 excluding the current yield). BLU has committed another €250,000 to SatoshiPay, and has an option to inject the same amount on the same terms early next year. SatoshiPay has launched an API to allow clients already transacting substantial volumes through Vortex to automate their flows and increase frequencies.
The company traded at just under 10p at the time of writing, up more than 170pc over the past year, taking it to a market cap of £4.5m. As the potential of its bold Forex proposition becomes clearer, and crypto continues to win broader market acceptance, the conditions seem in place for Blue Star Capital to shine ever more brightly over the next few months. Prospective investors should tune in to our interview with BLU Chairman Anthony Fabrizi.
hVIVO (AIM:HVO)
hVIVO (AIM:HVO) has weathered the challenges faced by the biotech sector in 2025, diversifying its offering beyond its core Human Challenge Trials (HCT) service, and building a strong order book for 2026.
HVO delivers end-to-end clinical development services to a diverse and expanding client base that includes seven of the world’s ten largest biopharma companies. The company remains a global leader in conducting HCTs across multiple infectious and respiratory indications (HCTs are medical research studies in which healthy volunteers are intentionally exposed to a pathogen in a controlled setting to test treatments).
Responding to macroeconomic and sector-specific headwinds that have hit the broader Contract Research Organisation (CRO) industry, HVO has diversified its service offering, broadening revenue streams, enhancing therapeutic expertise, and strengthening the company’s operational footprint across Europe. Moving away from a historical reliance on large HCT contracts, HVO’s widening scope of services and revenue streams is creating a broader base of smaller, repeatable contracts.
HVO’s HCT service continues to be the company’s core business. Over the past three years it has successfully manufactured seven new challenge agents, enabling the company to support a broader range of vaccine and antiviral development programmes. HVO highlights a particularly significant Letter of Intent, signed with ILiAD Biotechnologies, to deliver the world’s first Phase III HCT for a whooping cough vaccine candidate. As HVO’s first bacterial HCT the partnership could unlock further business in a major global market.
While retaining focus on its HCT business the company has taken bold steps to diversify. Pursuing an aggressive mergers and acquisitions strategy, HVO has this year acquired German clinical research company CRS, and biobank and storage services provider Cryostore in London.
With the addition of CRS, HVO now offers a full early phase clinical development service across both the UK and Germany, two strategically important biopharma markets. CRS operates a 120-bed capacity across Mannheim and Kiel, providing early-phase clinical trial services that include first-in-human and proof-of-concept studies. Cryostore enhances HVO’s own hLAB and biobank service, opening long-term, recurring revenue from clinical sample storage contracts typically spanning two to 15 years. HVO’s operations are now aligned across four distinct service lines: HCT services, Clinical Services, hLAB laboratory services, and Consultancy Services.
HVO’s interims results for H1 2025 highlighted the need for diversification, charting a decline in first half revenues to £24.2m (H1 2024: £35.6 million) that reflected unexpected HCT cancellations and postponements, and lower consultancy revenues. But the company expects to achieve ‘high-single digit revenue growth’ in 2026 on the back of anticipated normalisation of HCT activity and growth across a broader service offering. HVO’s weighted contracted orderbook stood at £40m with a strong pipeline of opportunities across the company’s service lines ‘with major opportunities in advanced discussion.’
The aggregate value of customer proposals submitted in H1 2025 surpassed those for the whole of 2025, and there was a higher conversion rate of proposals to contracts, developments boding well for the company’s medium-term growth. HVO continues to be debt-free, with cash of £23.3m. HVO’s diversification strategy showed promising signs, with the company’s hLAB and Clinical Services revenues, including acquisitions, accounting for £7.9m in H1 2025 compared with minimal revenues in H1 2024.
Last month HVO offered further indications of the success of its integration strategy announcing that CRS has signed contracts worth more than £5m since September. The subsidiary has also increased its conversion rate of proposals to contracts year-to-date since last year. HVO said that with a robust sales pipeline and continued efficiency improvements, CRS remains on track ‘to become earnings accretive in 2026.’ HVO currently trades at 7p with a market cap of £50.7m.
Onward Opportunities (AIM:ONWD)
Onward Opportunities (AIM:ONWD), an investment company focused on the UK small cap market, has continued to prove the value of its portfolio, increasing NAV per share and picking up nominations for Fund Manager of the Year at both the City AM Awards 2025 and the PLC Awards.
ONWD seeks to capitalise on the significant valuation anomalies that can arise from a lack of investor information on UK small and micro-cap stocks. The company targets returns of more than 15pc IRR over a three- to five-year holding period. That strategy has been successful. Since joining AIM in March 2023 ONWD has returned a NAV total return of 34.2pc, substantially better than the index’s All-Share Total Return over the same period.
The portfolio continued to demonstrate its resilience in 2025, navigating a volatile macro environment through the first part of the year, including risk-off sentiment driven by geopolitical concerns and tariff uncertainty. In the 12 months to 30 June 2025 ONWD reported a NAV per share of 128.41p, equating to a total return of 10.4pc.
Returns were driven by the continued strong performance of key holdings in the ONWD’s core portfolio, a diversified group of unglamorous but solid companies.
The Mission Group (valuation £1.69m | portfolio weighting 5.9pc | total return 45.6pc) is a ‘special situations’ company focused on unlocking value through disposals and strategic actions. Value catalysts include asset sales, strategic reviews, inbound interest, and corporate transactions crystallising the company’s underlying value.
Springfield Properties (£1.94m | 7.9pc | 44.4pc) is a Scottish housebuilder specialising in the development of private and affordable housing.
Synectics (£3.08m | 9.4% | 40.7%) is a niche security and surveillance technology provider with a record of securing high-margin contract wins.
Transense Technologies (£1.81m | 7.2% | 38.8%) offers high-barrier IP differentiated sensing technologies, particularly in tyre monitoring and SAW torque sensing.
Angling Direct (£3.10m | 9.4% | 27.3%) is an operational improvement and margin recovery story within UK specialist retail.
Alumasc (£2.64m | 8.0% | 20.0%) is a resilient building products business with strong pricing power in architect-specified markets.
Podcasting platform Audioboom and flooring distribution group Likewise are moving from nursery holdings to core positions, now accounting for 8pc of NAV.
ONWD has also realised significant returns from investees that have been acquired, or in which interest has been signalled. The takeover of maritime AI company generated an IRR of 141.1pc and a 2.5 times multiple on invested capital. An indicative takeover approach for financial services company Frenkel Topping also realised value.
ONWD is bullish about new nursery holdings, including Boku, Light Science Technologies, Roadside Real Estate Holdings, Celebrus Technologies, E-energy Group and Venture Life Group, an investment pipeline described ‘the strongest since launch’. The company’s success has allowed it to complete several raises to plough back into new investments. ONWD generated £4.1m from two raises earlier in the year, and an additional £1.31m last month.
ONWD moves into 2026 with a NAV per share of 138.8p. The company currently trades at 142p – up 11pc over the past year – with a market cap of £42.3.
Poolbeg Pharma (AIM:POLB)
Poolbeg Pharma (AIM:POLB) moves into 2026 looking ahead to trials of flagship product POLB 001, which has the potential to radically expand treatment of cancer immunotherapies, and a patient-friendly therapy for obesity.
POLB 001 is a potentially groundbreaking treatment for Cytokine Release Syndrome (CRS), a severe and potentially life-threatening condition that can be triggered by cancer immunotherapies. The risk of CRS restricts the administration of immunotherapies to specialist cancer centres, keeping patients in hospital and swallowing healthcare resources. POLB 001, administered as a straightforward tablet, would greatly reduce risk, allowing patients to undergo treatment in community hospitals rather than centralised cancer centres, opening immunotherapies to many more who need them.
The prospective drug has a market opportunity of more than $10bn, a conservative estimate accounting only for multiple myeloma and diffuse large B-cell lymphoma patients. The demand for CRS management may increase as immunotherapies are developed for a wider range of blood cancers and solid tumours.
POLB 001 is progressing towards Phase 2 trials, having demonstrated a compelling safety and efficacy profile in both preclinical and clinical settings. Earlier this year the US Food and Drug Administration (FDA) granted Orphan Drug Designation to POLB 001, opening significant potential clinical development and commercialisation benefits, including a seven-year period of US market exclusivity pending regulatory approval of the treatment, waiver of Prescription Drug User Fee Act application fees (worth more than $4m), earlier access to Special Protocol Assessment to agree on pivotal trial designs, and the potential for tax credits for qualifying clinical trials.
POLB went on to sign an agreement with a specialist blood cancer trials organisation to conduct POLB 001 Phase 2a trials next year. The study will investigate the treatment’s safety and efficacy, including its capacity to reduce the incidence of CRS in approximately 30 relapsed/refractory multiple myeloma patients receiving an approved bispecific antibody that brings immune cells like T cells into close proximity with cancer cells, helping the immune system to recognise and kill cancer cells. POLB 001’s potential was further underlined last month when the European Patent Office granted the company’s patent application for its use for the treatment of severe influenza.
While progressing POLB 001, POLB continues to advance its Oral GLP-1 programme targeting the obesity market. The global GLP-1R market is forecast to grow significantly, expected to reach $150bn by 2031 across obesity and diabetes indications alone. Obesity has been recognised by the World Health Organization as a major global health challenge, reaching epidemic levels.
Oral GLP-1R targets delivery to specific areas of the gut and into systemic circulation, with the potential to improve convenience and bioavailability for the treatment of obesity and other metabolic disorders. The technology’s effectiveness has already been validated through the commercialisation of encapsulated oral probiotics and nutraceuticals by POLB partner AnaBio Technologies. Oral GLP-1R options promise non-invasiveness, ease of access and greater patient compliance, particularly for those with chronic conditions who require long-term treatment. A proof-of-concept clinical trial is expected in H1 2026.
POLB continues to explore potential collaborations to develop its groundbreaking AI-led programmes. AI-driven drug discovery has the potential to accelerate target identification, reduce costs, de-risk development, and improve success rates. POLB has already used AI to identify multiple novel drug targets and new potential drug candidates for influenza and Respiratory Syncytial Virus RSV respectively.
POLB raised a gross £4.865m earlier this year in support of its two leading programmes. The company had a cash balance of £10m at the end of H1 2025, extending its financial runway into 2027. With POLB 001 and Oral GLP-1 trials in 2026, and cash in the bank, POLB moves into 2026 anticipating a series of value-creating milestones. At the time of writing POLB traded at 4p – up 20pc over the past six months – with a market cap of £28m.
Shortwave Life Sciences (AQSE:PSY)
During a pivotal 2025 Shortwave Life Sciences (AQSE:PSY) has transitioned into a biopharmaceutical company focused on novel drug combinations and delivery methods designed to treat patients suffering from mental health disorders.
PSY’s first programme targets Anorexia Nervosa – usually just called anorexia – for which there are currently no approved pharmacological treatments, and clinical innovation remains critically underfunded. Eating disorders affect around 8pc of the global population, with anorexia one of the most deadly conditions, claiming the lives of some 10pc of patients. It also ranks as the most expensive eating disorder to treat, costing approximately $11.6bn every year. PSY is developing drugs with multiple active compounds to maximise therapeutic benefits, and offering a more palatable alternative to liquids, injections, or tablets (for patients with swallowing difficulties).
The company’s longer term focus is the full range of psychedelic-assisted therapies, a market analysts forecast will be worth more than $8 billion by 2028, driven by new treatment paradigms, patient advocacy and changing legislation. Scientific validation for psychedelic-assisted therapies continues to grow, with multiple late-stage trials underway and increasing regulatory engagement across major jurisdictions.
PSY rebranded as Shortwave Life Sciences in June after acquiring Shortwave Pharma earlier this year, a name change highlighting a sharpened focus on drug development, and commitment to identifying innovative therapies for life-threatening mental health conditions. PSY has completed key pre-clinical safety studies for its anorexia treatment demonstrating strong safety and tolerability at elevated doses, and reinforcing the company’s conviction in the platform’s bioavailability and patient-centric design.
The results have provided a critical foundation for future clinical trials and regulatory engagement. PSY has received a positive international preliminary report from the Patent Cooperation Treaty examining authority confirming that the patent application met all criteria of novelty, non-obviousness, and industrial applicability. A first clinical trial will commence once funding is in place. The company continues to build a strong network of clinical, academic and manufacturing partners across Europe and Israel, with active collaborations in place to streamline regulatory preparation, reduce cost exposure and accelerate time to trial.
PSY has launched a pre-campaign for retail fundraising through the private market investment platform Crowdcube to support the transition into Phase I clinical trials. The company is streamlining its operations to sharpen strategic focus, divesting its media and events business to enable full operational and financial focus on its core drug development activities. It is building a digital asset treasury to preserve balance sheet value, reduce reliance on traditional equity fundraising, and provide a potential non-dilutive revenue stream to support ongoing research and development. Private and public placements have brought in £40,000 and £250,000.
PSY currently trades at 1.75p with a market cap of just under £1m.
Solid State (AIM:SOLI)
Electronics group Solid State (AIM:SOLI), up by nearly a quarter this year, has recorded an increasingly strong trading performance through 2025, supplying industrial and defence markets with durable components, assemblies and manufactured systems for use in critical applications.
An AIM veteran – SOLI joined the market in 1996 – the company has grown organically since it was founded more than 50 years ago, and more recently through acquisition: SOLI has acquired five companies in the past five years.
SOLI focuses on industrial and ‘ruggedised’ computing, battery power solutions, antennas, secure radio systems, imaging technologies, and electronic components tailored for defence, energy production, aerospace, environmental, oceanographic, industrial, robotics, medical, life sciences and transportation.
The company operates through two principal trading divisions, one focused on system design and manufacturing, delivering engineered systems and bespoke solutions, the other on the distribution of technical components, supplying electronic components, design-in support and services such as sourcing and obsolescence management. Over the years SOLI has established close relationships with commercial partners, and with national and international agencies. The company’s projects are typically long term, spanning several years, facilitating contracts generating recurring revenues from product sales and ongoing support.
SOLI’s interim results for the six months ended 30 September 2025 reported headline revenues of £85.7m, up 38.6pc over the equivalent prior year period. Adjusted for the impact of communications sales and a currency headwind, underlying revenues increased by 3.6pc. Adjusted profit before tax was £4.9m.
The company’s strong performance was driven by a £1.65m integrated systems order from a new government customer, and a follow-on international $5.2m contract award from a US franchise line. Highlights included a collaboration to deliver a sovereign, end-to-end energy solution for the UK defence sector, and £23m realised from a delayed communications programme to the Nato Support and Procurement Agency carried over from the previous year.
In the past few months SOLI has reported continuing robust orders from defence and security customers, and strong demand and order intake for battery products with multiple autonomous applications. The company has secured a significant contract to deliver communications products under the British Army’s multi-year CAIN programme. The initial order of $10.8m provides a foundation for material follow-on revenues.
SOLI’s open orderbook – as at 30 September 2025 – of £87.3m (H1 24/25: £76.6m) increased to £97m on 30 November 2025 (30 November 2024: £85.5m), with a strong prospect pipeline. The company is closing the year strongly, announcing several major orders since October with a total value of $7.4m. The orders relate to the supply of specialist power packs for applications across unmanned aerial vehicles, maritime technologies, portable medical devices, industrial applications and the energy sector.
After an impressive 2025 SOLI moves into the new year in a strong position to serve commercial partners and governments gearing up to strengthen Europe’s defence sector against ongoing geopolitical risk. SOLI currently trades at 160p – up 23pc this year – with a market cap of £90m. The company touched highs of more than 200p in the summer.
Supreme (AIM:SUP)
Retail manufacturer and distributorSupreme (AIM:SUP) reported strong trading performance through 2025, securing significant new revenue channels with the acquisition of household brands including Typhoo Tea, Clearly Drinks and SlimFast.
SUP specialises in the manufacture, licensing, branding and distribution of everyday consumer products, including household batteries and lighting, vaping, health and wellness and sports nutrition, and drinks and soft beverages. The company’s vertically integrated business model combines manufacturing capability, brand ownership and an extensive in-house distribution network.
SUP serves more than 3,000 active business accounts with around 55,000 retail outlets, supplying customers from discount and convenience retailers to major supermarkets, wholesalers and online platforms. Customers include B&M, Home Bargains, Poundland, Tesco, Sainsbury’s, Morrisons, Amazon, The Range, Costcutter, Asda, Halfords, Iceland, Waitrose, Aldi and HM Prison & Probation Service. Brands include Duracell, Energizer, Panasonic, Black & Decker and JCB.
SUP has also built a strong portfolio of more than 40 in-house brands and licences. The company produces the 88Vape brand as well as supplying a broad portfolio of third-party vaping hardware and e-liquids. It has recently expanded into the soft drinks and hot beverages markets with the acquisitions of Typhoo Tea and Clearly Drinks, and weight management through SlimFast, one of the UK’s leading meal replacement brands. SUP also purchased the 1001 carpet care brand.
SUP’s most recent results, for the six-month period ended 30 September, recorded robust trade in 2025. Revenue was up 17pc or £19.6 million to £132.6m (H1 2025: £113.0m), and gross profit to £38.4m, up 13pc (H1 2025: £34.1m). £15.4m of this growth came from the newly acquired businesses (Clearly Drinks, Typhoo and 1001) and the remaining £4.2m came from core businesses. 1001 and SlimFast have together added approximately £30m of annualised revenue. Adjusted EBITDA held steady at £18.5m (H1 2025: £18.5m).
SUP’s vape business continued to perform well, delivering a 13pc increase in revenues to £76.9m, demonstrating the company’s successful navigation of the transition from disposable vapes to pod systems (the sale and supply of disposable vapes was banned across Britain this summer due to environmental concerns and their appeal to younger customers). But the company is keen to emphasise its move to a more balanced portfolio: SUP is now on track to deliver half of its annualised revenues from non-vape activities.
The only downside was a fall-off in the electricals and household category. Electricals reported revenue of £22.8m (H1 FY 2025: £28.3m), which SUP attributes to ‘well-signposted ongoing reduction in lighting sales combined with reduced volumes in low-margin battery sales’, together with Panasonic’s withdrawal from the European battery market. The company is transitioning to other brands.
SUP is confident it is ‘firmly on track to deliver sustainable revenue growth in FY 2026 and beyond.’ The recent acquisitions of both 1001 carpet care brand and SlimFast, which have both contributed significantly to revenue, support the company’s broader ambitions to add well-recognised UK consumer brands to its existing product portfolio. SUP is accordingly well placed to expand its existing drinks and wellness activities, which promises continued organic and inorganic growth. Acquisitions look set to remain a core driver of the company’s growth strategy, allowing it to leverage its branded product portfolio and manufacturing capabilities.
SUP currently trades at 148p with a market cap of £173m.
RentGuarantor (AIM:RGG)
RentGuarantor (AIM:RGG) has enjoyed a strong 2025, raising the profile of its rent guarantee service in the wake of the passage of the Renters’ Rights Act, legislation likely to make the securing of guarantees in the UK’s competitive private rental sector even more important.
RGG’s bespoke digital platform, open to tenants in England, Wales and Scotland, aims to make it as simple as possible for tenants to secure guarantors, allowing applications to be submitted within minutes with the promise they will be reviewed on the same day.
RGG’s H1 2025 results to the end of June reported a leap in income of 87pc over that for the same period in 2024, approximately £970,000 against £518,000, representing 76pc of 2024 full year revenue. A stellar Q3 trading update to the end of September reported revenue up 92.4pc year-on-year over the same quarter last year. Average revenue per tenant contract was up by 5.2pc. RGG had expanded its partnership network through the addition of 52 new lettings agents, charities, councils and universities, building on an existing three-year partnership agreement with The Lettings Hub making available the RentGuarantor service to its tenants. The Lettings Hub operates through 821 Letting Agency branches, and last year completed approximately 143,000 references, 13pc of which required a guarantor.
RGG has announced a series of key investments this year. After moving to AIM from the Aquis Exchange in April, the company announced a partnership with barrister, broadcaster and author Rob Rinder MBE, who as brand ambassador will support the company’s mission to drive consumer and landlord education surrounding the important role of guarantors. The partnership will drive the company’s mission to inform tenants how professional guarantors can help them secure a rental home, and highlight the benefits for landlords in a changing lettings landscape. While building its marketing capacities RGG has continued to strengthen its team by hiring additional key staff in sales, marketing and compliance.
The company raised £455,000 through a convertible loan note offering in January, £1,017,000 by way of an ordinary share subscription in June, and a further £2,543,254 in November. (RGG reported cash of approximately £729,000.) The money raised will facilitate a marketing campaign timed with the passage of the Renters’ Rights Act, which received Royal Assent in October. The legislation is the most significant regulatory change to the rental industry in nearly 50 years, rebalancing the relationship between landlords and tenants. Key measures include abolishing ‘no-fault’ evictions, banning escalatory rent bidding, prohibiting upfront rent payments and excessively long contracts, and introducing a new system for challenging rent increases.
Guarantors are likely to become even more important as landlords become more selective, favouring tenants with conventional incomes and clean references. RGG’s marketing campaign is aimed at key sectors and customers, including students and their parents, private and corporate landlords, local authorities and social housing providers, property agents, Build to Rent, later life rentals and student accommodation specialists, and charities and universities. The campaign will encompass an in-person and online education programme to support potential partners in understanding the process and benefits of rent guarantees, directing attention to the RentGuarantor platform.
RGG’s progress this year has won industry recognition. The company won ‘Best Professional Guarantor’ award at the 2025 ESTAS Awards in October. ESTAS is the largest award scheme in the UK residential property industry, with awards granted according to surveys of customer satisfaction. Earlier this month RGG was selected as the ‘Supplier of the Year: Products & Services Business’ at the Negotiator Awards 2025, beating a shortlist of 25 companies from across the sector.
RGG currently has a market cap of £44.6m and trades at 30p – up by more than 45pc over the past month.
Roadside Real Estate (AIM:ROAD)
Roadside Real Estate (AIM:ROAD), a real estate business building a portfolio of modern roadside retail assets, has recorded another impressive year continuing to acquire prime locations optimal for in-demand EV charging infrastructure. The market agrees, pushing the company’s market cap above £100m.
Through a JV with Meadow Real Estate Fund ROAD invests in sites optimal for drive-thru, foodvenience, local logistics and trade counter businesses, as well as EV charging facilities. Under the agreement, in which ROAD has a 3pc stake with an option to acquire 10pc, ROAD earns ongoing asset management fees and a share of rental income. The partners believe the JV has longer term potential to build a portfolio worth £250m. Roadside assets valued at around £90m have been acquired within the past year, including the £70m acquisition of 12 stores from Lidl, Brampton Hut services, and a roadside scheme in Canterbury anchored by Aldi.
This summer ROAD acquired the former Sainsbury’s petrol filling station at Coventry for £1.25m initiating the company’s energy forecourt roll-up as it builds a scalable platform for future growth in multi-fuel roadside destinations with retail infrastructure. The agreement with Meadow Real Estate has been modified to exclude the owning and operating of petrol filling station businesses and related convenience retail services, giving ROAD more freedom to pursue opportunities in the roadside space. The JV partners remain in negotiation on several further site acquisitions.
This month ROAD announced the £17.8m acquisition of Gardner Retail, a portfolio comprising six strategically located, premium-quality petrol station forecourts in Southwest England. The purchase significantly enhances the company’s position in the petrol forecourt sector. ROAD said: This transaction marks the start of a new chapter in the execution of our strategy to build a high-quality portfolio of modern roadside retail assets and is a significant step in enhancing our competitive positioning.’
ROAD strengthened its finances this year to allow it to concentrate on its roadside real estate business. The company disposed of its commercial property business for a net £4.7m, a premium to its market value, and reached an agreement for a put-option that will enable it to realise a minimum of £48m from the future sale of its 48.2pc interest in Cambridge Sleep Sciences (CSS). The agreement follows the announcement of the successful results of a second clinical trial of CSS’s SleepEngine technology, demonstrating its effectiveness in helping to improve sleep quality. ROAD will receive the consideration in two halves in September 2026 and 2027. If the option is exercised as planned ROAD would recognise a profit of more than £7m across the 2025 to 2027 financial years. ROAD has also reinforced its strategy through the appointment of senior directors with experience in forecourt operations and retail.
ROAD enters 2026 in a strong position to realise its strategy, having streamlined its operations, built a solid financial foundation, acquired Gardner Retail, and identified new targets for its ambitious acquisitions pipeline. ROAD currently trades at 74p – up 147pc this year – with a market cap of just over £105m.
Vault Ventures (AQSE:VULT)
Vault Ventures (AQSE:VULT) has retooled this year, moving from a tech investor to a company able to design and launch its own products in the blockchain, AI and augmented reality sectors. The company has built a digital asset treasury, and has put in place an accelerator programme to expedite early stage investments.
VULT has positioned its summer acquisition, AI development agency System7, as an internal technology and product development arm that designs, builds and iterates proprietary platforms in-house, reducing dependence on third-party developers. System7 has announced its first product, vSignal.ai, an AI-powered analytics platform designed to make digital asset markets easier to follow and understand for all investors.
The platform integrates three core data streams: cryptocurrency pricing and valuation signals, blockchain-native fundamentals (such as exchange flows, network activity, and holder behaviour), and macroeconomic data. By integrating these datasets vSignal.ai gives users a holistic view of how global macroeconomic forces (such as interest rates, inflation, liquidity and dollar strength) and on-chain fundamentals are influencing digital asset markets. The platform also incorporates AI-driven analysis and notification systems identifying intelligent insights. The result is ‘a tool that provides a level of clarity and context previously reserved for institutional trading desks.’
The Alpha version of vSignal.ai was launched last month in accordance with a controlled release schedule that validates platform performance and gathers structured user feedback ahead of a broader rollout. Access will initially be provided to existing shareholders, selected industry experts and recognised commentators within the crypto and digital-asset sector. The Beta version is scheduled for 22 December.
VULT has strengthened its digital-asset treasury, raising £1.25m in the summer to invest in Bitcoin, Ethereum and Solana. The company disclosed digital treasury holdings of £2m by mid-July. By September the value was more than £2.83m. VULT has since concentrated its holdings in Ethereum and Solana, which have realised the biggest gains.
VULT raised another £555,000 earlier this month to launch its Vault Accelerator programme, designed to position the company as an active participant in early-stage value creation. The Accelerator will support startup companies in securing third-party funding and executing their scale-up and development strategies. VULT expects to generate revenue through the delivery of structured accelerator programmes, advisory support, and strategic guidance tailored to the needs of early-stage teams operating in complex and capital-intensive technology sectors.
The Accelerator will focus on advanced and frontier technologies aligned with VULT’s core thematic priorities, including blockchain infrastructure, AI, augmented reality, and early-stage quantum computing and quantum-adjacent technologies aligned with long-term commercial and security use cases. By engaging with high-potential technology companies at formative stages, the company aims to generate recurring programme income while selectively building a portfolio of minority equity positions with the potential for longer-term asset growth. VULT says ‘a significant number of early-stage teams’ are engaging with the company following its initial call for interest. A shortlist of candidates is progressing through the assessment process ahead of the formation of the first cohort.
VULT is finalising an agreement with a specialist technology build partner with expertise in quantum, post-quantum and security-critical software systems. The proposed partnership will be structured to support the development of revenue generating quantum-adjacent solutions for regulated large organisations.
VULT currently trades at 1.15p with a market cap of £3.77m.
Author: Total Market Solutions
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