Boost for creative businesses as new fund launched

A West Midlands co-investment fund that is aiming to restore the region as a leading centre for entrepreneurship says it has agreed its first partnership.

The Ark Hub has agreed a deal with The Creative Advantage Fund (CAF), which was set up in 2000 as the UK’s first venture capital fund specifically for the creative industries.

CAF has pledged its capital to encourage co-investment from business angel and other investors into creative businesses in the region, through the Ark.

Rupert Lyle, CEO of The Ark, said: “Our objective is to show how by working together we can all do better, and we are delighted that CAF immediately understood the potential benefits and have been so supportive. Now that we have found our ‘first follower,’ it will be much easier to show other institutional investors how they can benefit by getting involved with The Ark”.

Helga Henry, chair of the Creative Advantage Fund, said: “CAF was the original fund for support and access to risk capital for the creative industries. Having replenished our funds through two rounds of investment, we were looking for a savvy way to maximise our potential impact.

“By working with The Ark, we can support an innovative approach to supporting creative businesses that are ready to scale and offer our expertise to the development of the Ark’s wider ambitions. We are delighted to be on board.”

The Ark is now actively seeking investment opportunities in creative businesses ranging from £50,000 to £500,000, to provide support and connect with existing syndicates and new investors.