Innovative jewellery brand first investment for new fund

INNOVATIVE fashion brand Precious Monkey is to be the maiden investment for Yorkshire’s newest investment fund Phase 37.

The fund, which was launched some six weeks ago, is the brainchild of Simon Clothier, founder of the highly successful Wetherby-based management consultancy Boxwood and serial entrepreneur.

Investments will see Mr Clothier and his wife Liz adopt a very “hands on” approach to actively promote fast growth based on a seven phase business cycle model – one being the original idea and seven exit.

Leeds-based Phase 37 will support businesses from stage three (launch) through to phase seven by contributing to the overall management of its investments including sales and marketing, product extension and new market opportunities.

It is expected to raise between £1m and £2m in order to provide early phase funding for new and emerging businesses across a range of sectors

Mr Clothier said that the fund’s first investment, which will see The Precious Monkey Jewellery Company launch a range of on-line jewellery that enables customers to collaborate on-line in product design, was a significant milestone.

“Just six weeks after opening the doors for business we have made our first investment and achieved it through the creation of a fresh brand with limitless possibilities,” he said.

“We have a technology-enabled ‘first’ and go live, day one, with the ability to deliver across the world within seven working days.

“The collaboration with one of the most talented jewellery teams in the UK provides us with the opportunity to exercise our hands-on, active investment approach and to demonstrate that venture capital can make excellent returns with new and emerging businesses.”

As well as having the opportunity to select or design their own pieces online, customers will also be able to purchase complimentary pre-designed ranges through selected jewellers and stores throughout the UK.

Nigel Townsend, founder of Precious Monkey and managing director of long-established Townsend Fine Jewellers, said that the website’s launch was a marvellous opportunity to take a new brand worldwide.

“I have been working in the jewellery business for more than 30 years and have not seen anything this distinctive or edgy.

“Early consumer trials were a reassuring success and have helped us prove and refine the concept. Now with the addition of Phase 37’s expertise and track record in fast growth we have the capability to accelerate the launch.”

The Precious Monkey Jewellery Company’s launch will also bring new jobs to the region and will use a brand new “ethical” manufacturing process.

Mr Clothier said that the fund would soon be able to allow third party private investors to participate in its activities.

“We look forward to bringing others into the equation and to the additional firepower some of those private individuals may bring with them,” he said.

“We know that investors will be excited by the pipeline of interesting businesses we have developed thus far. We anticipate making further announcements before the end of the year.”

He said that he hoped his track record of building up Boxwood, and later Certainty, would prove an attractive proposition for potential applicants. At its height, Boxwood – a member of the Sunday Times Fast Track 100 league – boasted client savings or more than £2bn.

Mr Clothier later split Certainty – a support services company – from its parent firm in a management buyout. It was later acquired by Work Inc in 2007.