Diamond Circle Capital PLC listed on the London Stock Exchange Wednesday, raising $74.32 million. The fund, listed under the code DIAM, will invest in high-quality diamonds. A year ago, it planned to raise $400 million, but pulled back without explanation.

The amount raised is short of the $100 million the company reportedly intended to raise.

The newly listed company said in June 2007 that it will invest in rare colored and high-quality white diamonds with a $1 million per stone minimum investment. The intention is to offer investors a relatively low-cost exposure to the diamond market.

Diapason Commodities Management SA will be managing the daily workings of Diamond Circle Capital’s diamond portfolio and its other assets.