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Horlick breaks crowdfunding record after raising £150k in 22 hours
by Elsa Buchanan on Jul 31, 2013 at 13:54
Nicola Horlick has broken records with her campaign on equity a crowdfunding site Seedrs, to raise starter funding for her new venture Glentham Capital.
In 22 hours, 136 investors rallied through her crowdsourcing site and reached the £150,000 target investment offering 10% ownership of the new business. The minimum investment was £10.
According to the crowdsourcing site, this was the fastest ever rate of funding for a startup business listed on the site.
Jeff Lynn, chief executive officer and co-founder of Seedrs, said in a statement: ‘It is clear that offering ordinary investors the chance to participate in what we all hope will be [Horlick]’s next big win was a hugely attractive proposition.
'It also reflects how Seedrs’ mission to open up early-stage investing to the wide array of men and women who want exposure to asset classes that were previously reserved for the very rich is catching on in a very big way.’
One-time City 'superwoman' Horlick (pictured), who is chairman of the new fund management business Glentham Capital, will look to raise a £100 million for a listed film fund in the fourth quarter of 2013.
Investments will be made directly through the online platform, and after completion Seedrs will hold and administer the shares as the investors’ nominee.
Horlick will work alongside chief executive officer Pandora Edmiston, who worked in the movie industry before moving to Citibank for a number of years.
The money raised through Seedrs will be used to pay Edmiston’s first-year salary, the set-up costs of the fund and some travel expenses.
Thereafter, the company plans to operate profitably through a 2% management fee and a 20% performance fee charged on the new fund.
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