THG's equity raise, through a share placing and subscription offer, exceeded its target of £75 million with an "oversubscribed and upsized" fundraise of £95.4 million. However, the fundraising did little to alleviate market concerns. Shares in THG closed down 7.7% to 47¾p.WHO: Ingenuity is THG's proprietary complete e-commerce platform that powers digital experience and retail for FMCG, beauty, and retail brands globally, creating a seamless experience for consumers. As well as being a third-party e-commerce solution, THG Ingenuity is the operational infrastructure and digital hub that supports THG Beauty and THG Nutrition. Ingenuity has 3,500 employees and 13 distribution centers globally.THG was founded in 2004 by Chief Executive Matthew Moulding and CFO John Gallemore, retails more than 8,000 brands, and operates more than 160 localized websites across 35 languages and 42 currencies. THG has become one of Europe's largest online retailers of premium beauty brands. Other holdings include Eyeko, Illamasqua, ESPA, SkinStore, RY, Glossybox, Lookfantastic.com, Grow Gorgeous, Ameliorate, Acheson & Acheson, Christophe Robin, Perricone MD, Dermstore, and Cult Beauty.WHY: The fresh capital will provide Ingenuity with medium-term funding to develop into a stand-alone, private company. Once considered THG's crown jewel, it has yet to turn a profit. THG believes the demerger will simplify its structure and boost its balance sheet. The demerger would leave THG holding the beauty and nutrition business in what it called a“simpler, cash-generative business capable of paying future dividends.