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Edge reveals new funding initiative for creative industries - ToyNews

Edge reveals new funding initiative for creative industries

The creative industries investor has raised a £40m fund sum with UK Government backing to help small firms achieve full potential in the sector.
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Creative industries investor, Edge Investments has raised a £40m fund with the UK Government to invest in high growth companies in the creative industries.

The new Edge Creative Enterprise Fund brings together private sector funding from leading institutions and high net worth individuals, with an investment from the Government’s British Business Bank.

The purpose of the new initiative is to nurture and assist creative businesses to grow by providing the crucial capital and mentoring skills to stimulate growth and innovation at a number of creative start-ups.

The creative economy currently accounts for around 10 per cent of the entire UK economy and provides 2.55 million jobs.

The fund itself will target investment in these industries, namely companies which trade with creativity, knowledge and information.

‘The key aspect which these businesses have in common is the creation, acquisition, management and commercial exploitation of intellectual property, which translates into economic value,’ read a statement from Edge.

The fund is target a minimum of three times return for its private investors over its seven to ten year life.

David Glick, Edge Investments CEO, said: “The creative industries are one of the UK’s great success stories, an area where Britain excels.

“Our view is that a high degree of sector knowledge mitigates risk and also allows us to access the most promising opportunities and most talented executives.

“There are nearly 160,000 creative industries businesses in Britain yet despite being in this high growth sector, many of them find it difficult to attract adequate capital to maximise their potential.

“Our new Edge Creative Enterprise Fund aims to fill that funding gap. Edge Creative Enterprise Fund will bring much-needed growth capital to smaller businesses in the creative industries and we are grateful to the British Business Bank and all the fund’s investors or their support.”

The new found was officially revealed at the launch event for a new finance guide for the sector, Creative Industries – Routes to Finance, at the National Theatre this morning.

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