designcapital is a cash shell that floated on Aim on 21 January 2008. It raised £4.78m (£4.1m net) at 10p a share but that could rise to £11.5m depending on deferred subscriptions, which should have been made at 30 days and 12 months after admission to Aim. It was capitalised at £5.98m based on the original fund raising figure. The company planned to become a design-focused investment company buying businesses involved in luxury furniture and appliances. The original backers include Luxadvor, owner of luxury foods company Hediard, which is owned by Russian Sergei Pugachev. It said it intended to invest £3.4m over 12 months.