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LONDON (Alliance News) - Braveheart Investment Group PLC on Thursday said it has given notice to terminate its partnership with crowdfunding platform Crowdcube and later said it has signed a new deal with rival crowdfunder Seedrs.
Braveheart struck a deal in January to launch Crowdcube Ventures Ltd to enable passive investors to build a portfolio of investments by co-investing in crowd-funded ventures. It said that once it has completed two committed investments, it will stop working with Crowdcube.
Braveheart said in its earlier statement Thursday announcing the termination that it was in advanced talks for a new deal and followed through on that promise the same day, signing a deal with another crowdfunding platform, Seedrs.
"Seedrs has the highest set of regulatory approvals and the same high investment standards as our own. We are delighted to be investing in Seedrs' best prospects and to be bringing it investment opportunities in our portfolio which comprises around 150 companies," said Braveheart Chief Executive Geoffrey Thomson.
Shares in Braveheart were down 16% to 10.12 pence on Thursday, one of the worst performers on the London Main Market. Before its second announcement, Braveheart's shares had fallen to 9.0p, a new 52-week low.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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