Envestors closes £500,000 equity funding for Style-Passport
Braveheart Investment Group plc ('Braveheart', the 'Group' or the 'Company') (BRH), the AIM-listed investment management group specialising in venture capital investments and investment services to business angels, high net worth individuals, family offices and public sector organisations, announces that Envestors Limited, its wholly owned subsidiary, has closed an equity fundraising for Style-Passport Limited, the online fashion and beauty service for leisure travellers.
Style-Passport is a women's online magazine and store for holiday fashion and beauty. From designer labels to essential wardrobe staples, Style-Passport enables its users to achieve the fashion editors' best practice of travelling light and looking beautiful and appropriate in any occasion away from home. Elegant and easy to navigate, www.style-passport.com expertly edits selections of clothes and beauty products for life's good times - beach holidays, city breaks, ski trips, weekends outdoors around a camp fire or a day at the spa.
Of the £500,000 raised, £185,000 was provided by members of the Envestors private investor network, £225,000 was provided by the Angel Co-Fund and the balance was provided by other investors. The Co-Fund was established in November 2011 with a grant from the Regional Growth Fund to invest alongside business angel syndicates in companies across England.
Scott Haughton, a Director of Envestors, said: "Style-Passport has a good growth story and we are delighted to have closed this funding with the Angel Co-Fund. This is the first occasion we have worked with this new fund which promises so much for the angel community."
"Online fashion is growing fast," commented Sarah Walter, Founder and Managing Director of style-passport. "We have identified and developed an exciting, potentially highly lucrative niche in the industry - people who travel, and marketed it in a ground-breaking way. The results have far outreached our most optimistic expectations and we are ready to accelerate this progress.
"The funding provided by Envestors and the Angel Co-Fund enables us to advance our strategic partnerships, develop further our brilliant team and position style-passport as the ultimate style travel expert and the pioneer of this concept," added Sarah Walter, an experienced Fashion Editor and Director who has held several senior roles in the industry, notably at Vogue, Bazaar, Marie Claire, New Look and River Island.
Braveheart Investment Group makes and manages investments in young, emerging British companies, specialising in building tax efficient portfolios for business angels, high net worth individuals and family offices. Braveheart has a demonstrable track record in investing, an established client base and various funds under management. The Group has offices in Perth, London, Yorkshire and Jersey with franchise operations in Dubai and Manchester.
Following the 2010 acquisition of Envestors Limited, the London based specialist corporate finance advisory business, Braveheart offers a unique and comprehensive suite of tax efficient products to high net worth investors.
Envestors enables investors to source dynamic unquoted companies in need of growth capital. Comprising high net worth private investors, family offices, funds and venture capital sources, its network has helped over 65 companies raise in excess of £25 million, the majority of opportunities attracting taxation benefits under the Enterprise Investment Scheme (EIS).
Services to companies include intensive preparation for fundraising, initial due diligence and screening, facilitating corporate fundraising through in-demand investor presentation events and face-to-face meetings with potential investors, and placing of non-executive talent.
Envestors was awarded the "Private Investor Network of the Year" at Investor Allstars in 2009 and again in 2011 and is a subsidiary of Braveheart Investment Group plc.
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