LONDON (Alliance News) - Braveheart Investment Group PLC Monday said it is to launch a new crowdfunding vehicle with Crowdcube Ventures Ltd.
In a statement, Braveheart, which finances small and medium-sized enterprises and provides investment services to high-net-worth individuals, said the new Crowdcube Venture Fund will enable passive investors to build a portfolio of investments by co-investing in crowd-funded ventures.
"There are a large number of investors who like the crowdfunding concept but who, for one reason or another, find the DIY route problematic. We hope they will find this new initiative of interest," Geoffrey Thomson, chief executive, said in a statement.
A professional fund manager will screen the investments.
The two firms will work together, with Crowdcube sourcing investments and Braveheart-owned Strathtay Ventures Ltd acting as fund manager.
The fund will aim to take advantage of tax reliefs, and set the minimum investment amount at GBP2,500.
Investors will be accepted into the fund on a case-by-case basis and can subscribe, or top up, on more than one occasion over the two-year initial investment period," Braveheart said in a statement.
"In order to qualify for investment from the fund a company must raise at least 33% of its required total through the Crowdcube platform," the company added.
Crowdcube, which was founded in 2010, raised GBP12.2million for 54 UK businesses in 2013, a 500% rise on 2012.
Braveheart shares were Monday quoted at 10.00 pence, down 9.1%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Braveheart Inv (BRH)