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Horlick breaks crowdfunding record after raising £150k in 22 hours

by Elsa Buchanan on Jul 31, 2013 at 13:54

Horlick breaks crowdfunding record after raising £150k in 22 hours

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.

3 comments so far. Why not have your say?


Jul 31, 2013 at 15:51

Poor sad fools!

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Martin Bamford

Jul 31, 2013 at 21:04

Next big win or first big win?

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r rodney

Jul 31, 2013 at 22:29

Deep sceptism.........Hm...think about it. Why would Mr. Pandora (??) Edmiston work in films and then smartly move into Citibank. Movie directors might like finance but they are at least passionate about their prodigy....not sure if Mr. Edmiston is quite so passionate...and as anyone knows if you dont have a passion for the creative arts then you are somewhat on the periphery. If I had the time for research I would check out the bibliography of both of these characters.

Its one thing saying you have a great track record as a fund manager (is that a fund manager of start ups or a fund manager of shares ie. traditional stuff) Hm. Smacks of individuals teaming up to use the essence of crowdfunding and then "having a go" at the Hollywood Movie industry, as we all know the only kind of movie that makes money is the blockbuster and that calls for huge outlay...but of course a big name movie draws in the big guns for finance (plenty of investing sources for successful movies) so where does this leave Nicola and team. Needing £100 million and meantime using investors cash to pay their wages.

Dont think I'll recommend investing. There are a lot better alternatives on the crowdfunding circuit.

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