CoInvestor receives £2.1M funding as part of the government's Future Fund and appoints new board member
By CoInvestor | 13 July, 2020
CoInvestor, the platform digitising alternative asset investing, has received £2.1 million in funding via two rounds of investment - the latter being a convertible loan note through the government's Future Fund. This latest funding will further support CoInvestor in their development of market-leading alternative asset technology. To coincide with this funding round, CoInvestor is pleased to announce the appointment of Just Arne Storvik to its board.
Speaking about what this means for CoInvestor, CEO Chris Sandfield said: “I am delighted to be at the forefront of the technology advances being made in the digitisation of alternative assets, ensuring that we can provide efficiency, transparency and market access to such a remarkable sector of the economy – whilst delivering much needed liquidity to some of the most exciting start-up companies in the UK. Our funding, supported by the government's Future Fund will ensure that we can continue to build a market-leading platform, support our hard-working staff through economic uncertainty and continue to deliver an award-winning marketplace to our growing client base of financial advisers, investors and fund managers.”
The government's Future Fund is further supported by the appointment of Just Arne Storvik to the board of CoInvestor. Storvik studied business and economics in Norway and Japan and holds an MBA from London Business School. His areas of specialisation include innovation management, new venture development, financing entrepreneurial businesses, and strategic industrial development. Throughout his career he has held roles as Chairman, Managing Director, Chief Financial Officer and Chief Risk Officer at companies and organisations based in the UK, Scandinavia and the Bermudas, particularly in the insurance and reinsurance sectors. Through his wholly owned investment company, ReCap Solutions Ltd, he is an active early-stage investor focusing on scalable technology companies in the UK and Northern Europe.
Just Arne Storvik said: “I am happy to join the board at an exciting time in CoInvestor’s development, as we are now able to prove the unique benefits of our digital platform to a wide group of investors and their service providers across the alternative asset space.”
On the recent appointment, Sandfield said: “Having worked with Just Arne for the past 12 months when he was a board observer to the business I am delighted to formalise this appointment and for the company to continue to benefit from his wealth of experience, knowledge and strategic thinking.”
Securing funding and bolstering the strength of the board further supports CoInvestor to make significant advancements in digitally connecting advisers and their HNW clients with premium alternative asset investment opportunities, while backing the many innovative early-stage businesses the UK has to offer.
