London Business Angels £200k Investors partner with £25m London Co-Investment Fund to close the fund’s 1st co-investment – into Captive Media
London based digital outdoor advertising company, Captive Media (http://www.captive-media.co.uk/), has closed a £617k investment round, cornerstoned by a circa £200k investment from London Business Angels (LBA) investors and including a £65k investment by the LBA EIS Roundtable Syndicate Fund 2014 and a £90k investment by the new £25m London Co-Investment Fund. The company provides a highly entertaining form of advertising which addresses the problem of young people filtering out adverts. Captive Media’s advertising products are currently in over 50 UK venues and in 12 other countries. The company will use the new funding to extend its network of venues, both in the U.K and internationally.
Gordon MacSween, Captive Media CEO, comments, “In 2014 we built a small, ad-based network in London and ran ad campaigns for Diageo, Apple, 20th Century Fox and other big brands. Now, with the backing of LBA, LCIF and other UK angels, we are creating a nationwide network of 200 screens. It’s a rare thing to say you make 100,000 laugh every week – and the best possible way to address the problem of advertising to a young, male audience.”
Maggie Rodriguez Piza, Funding London CEO, comments, “”We launched the London Co-investment Fund with the specific aim of allowing London’s entrepreneurs to scale up their high growth ideas and gain commercial traction. We believe that the co-investment approach is key for closing investment rounds at this crucial stage in the SME life cycle. We are pleased that the fund’s participation alongside LBAN and other angels will contribute towards the scaling up of this innovative advertising solution. ”
Anthony Clarke, London Business Angels CEO, comments, “the Captive Media team have developed a highly innovative and entertaining advertising platform whose ability to scale has already been proven at over 30 London venues. The LBA syndicate of £200k plus additional co-investment will allow the company to roll out its products at more venues across the UK and globally. I am also pleased that LBA was able to complete its first co-investment through its partnership with the £25m London Co-Investment Fund.”
