Investment crowdfunding platform Growthdeck announced it has merged with merged with the established HNW investor club and syndicator, Radius Equity, to create a premium VC-crowdfunding hybrid. This news comes just a few months after Growthdeck secured over £1 million through its self-crowdfunding campaign.
Radius Equity, which is described as a specialist provider of tax-efficient investment opportunities, offers private investors direct access to opportunities in UK private companies, featuring tax-savings that are available under the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS). Growthdeck stated it will have different elements of VC/PE and equity crowdfunding, including the following:
- Professional levels of due diligence
- Flexible fundraises from £500k to £5m
- Consistent terms for all investors
- Multi-channel access for a broader network, including HNW investors, international investors, regional and affinity investment clubs, and the crowd
- Online reporting and investor engagement
- Ongoing investee support from a panel of highly regarded sector experts
- Focus on quality businesses and clear exit strategies
In addition to the merger, GrowthDeck announced it has appointed former CEO of Tesco Direct and Argos FD, Steve Robinson, as its new CEO. Sharing details about his new role, Robinson revealed:
“Growthdeck is pioneering best practice in the increasingly important and rapidly growing equity crowdfunding marketplace – I am excited to be a part of that.I am passionate about helping high potential, smaller and early stage companies. I relish the prospect of facilitating the development of Growthdeck and, in my role as a retail sector expert on the Growthdeck Panel, the businesses for which we help raise funds. Growthdeck’s due-diligence focused approach to investment will help private investors finance young and exciting but sustainable businesses. Additionally, Growthdeck ensures sufficient checks and balances are in place to give investors the best chance of seeing a good return. I’m very much looking forward to helping drive Growthdeck forward and demonstrably differentiating ourselves in the equity crowdfunding industry.”
Gary Robins, strategy director at Growthdeck, added:
“Steve brings a very impressive breadth of business and finance experience. Having worked both for major corporates and smaller but highly ambitious companies puts him in an ideal position to lead Growthdeck. Crowdfunding is a hugely exciting idea but standards should be as high as in any other area of investment. We aim to become a leading player in this sector through the creation of a hybrid or “new breed”, and by putting the right team in place we can make a real difference to this industry – Steve’s appointment is central to this.”
Since GrowthDeck’s launch earlier this year, more than £1.8 million has been raised through its platform, with two deals being completed, which are Pinkster, a raspberry infused gin, and Fissara, a SaaS resource management solution.