Member Article

Manchester investment company Capital for Colleagues’ crowdfunding success

Manchester based Capital for Colleagues, an investment company that focuses on the employee owned business sector has reported success from its crowdfunding campaign.

It has raised £300k via sales of 511k shares valued at 40p each.

The crowdfunding funds will be used to further invest via providing working capital for the company’s ongoing projects.

Chief Executive Officer of Capital for Colleagues, John Eckersley, said: “I am delighted with the success of our crowdfunding, which has raised over £300,000.

“I would like to welcome these new investors to our Company as we focus on building Capital for Colleagues’ role as a leading investor in, and adviser to, the rapidly growing employee owned business (EOB) sector.

“In our first year as a public company we have successfully put together a portfolio of 10 unquoted investments, which is already generating meaningful revenues for reinvestment into additional EOB opportunities.

“Combined with the proceeds of this crowdfunding exercise, we are therefore well placed to grow our asset base further and we look forward to providing further information on these developments in due course.”

The EOB sector currently accounts for an annual turnover of over £30 billion in the UK, which represents over 3% of the nation’s GDP.

The governments have targetted this to grow to 10% of GDP by 2020.

This was posted in Bdaily's Members' News section by Sophia Taha .