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Horlick targets £450k for fund firm through crowdfunding
by Danielle Levy on Jul 14, 2014 at 08:23
Industry figure Nicola Horlick is seeking to increase the target for her film finance fund from $100 million to $250 million on behalf of her new firm Glentham Capital.
She is also planning to broaden Glentham's proposition to manage other types of funds.
In order to drive this growth, Glentham Capital is seeking investment of £450,000 through leading equity crowdfunding platform Seedrs.
Since raising its first seed capital of £150,000 last year on Seedrs, Glentham Capital has lined up a $20 million anchor investment from a US-based investor. The firm is now planning further expansion, including an increase in the fund size to $250 million and a move from a Guernsey-based fund to one based in the United States.
The follow-on raise of £450,000 on Seedrs is EIS-eligible and based on a pre-money valuation of Glentham Capital at £1.8 million, reflecting a 20% increase since the original fund raising last year.
Investments will be allocated on a first-come, first-served basis, and once the £450,000 has been subscribed, further investments will not be accepted.
Glentham Capital will earn money from the annual management fees and carry that it charges to the funds it manages. Seedrs investors are investing in Glentham Capital, rather than the underlying funds, meaning that they will be able to earn returns to the extent that Glentham Capital succeeds as a fund management firm.
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by Libby Ashby on Jul 25, 2014 at 11:16