Alternative investments platform strengthens Advisory Board as growth accelerates.
London, 7 November 2016: CoInvestor, the alternative investment platform for sophisticated private investors, has raised £1.1million in additional capital in under two weeks as it seeks to accelerate growth following a successful six months since full launch.
The funding builds on pre-existing capital raised from a number of individual and corporate investors, with 60% of the new funds coming from existing shareholders and 40% from new investors.
The business has also strengthened its Advisory Board with the addition of Ian Peacock, Head of UK and Ireland at IG Group, where he joins Jonathan Polin, Group CEO of Sanlam (UK). Peacock will help to provide high level strategic advice as the business enters a new growth phase.
The new funding and appointment of Peacock follow swiftly on the back of a major software upgrade to the CoInvestor platform, which will provide enhanced access to alternative asset investments for wealth managers and their clients.
The additional capital raised will be used to spearhead further growth including expansion of the team and development of new product offerings, driven by demand from CoInvestor’s existing fund manager partners. This will include the launch of CoAdvisor – an innovative white-label digital solution for wealth managers seeking to close the advice gap in alternative assets investments – the first of its kind within the industry.
Charles Owen, founder of CoInvestor commented: “We’re delighted to see the support we have from existing and new investors in our first year of operations, and to have secured additional capital to fuel our future growth and development of new product offerings.
The addition of Ian Peacock to our Advisory Board will greatly help to shape the direction for CoInvestor as we look to build on our current momentum and continue to scale the business over the coming months.
I’m excited to have the opportunity to advise a rapidly growing business that is instigating real change within the traditional investment landscape,” says Ian Peacock. “CoInvestor is uniquely positioned to help fund managers and advisors connect with savvy investors who are increasingly seeking diversification of their portfolios through alternative assets”.
Launched in December 2015, CoInvestor’s unique online platform enables sophisticated private investors to build their own portfolio of alternative asset investments by co-investing alongside experienced fund managers on a deal-by-deal basis.
Richard Roberts from Oxford Capital adds: “The CoInvestor platform has already proven to be a useful digital distribution channel for us, and the latest software upgrade further enhances the offering. We look forward to working closely with CoInvestor to continue building upon the promising momentum we have seen in past months”.
The platform is endorsed by top fund managers including Oxford Capital, MMC Ventures and Chelverton Asset Management and has the backing of a number of major industry figures including Matthew Peacock, Founding Partner at Hanover Investments, who acts as Non-Executive Chairman.
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CoInvestor allows private investors to co-invest alongside experienced fund managers on a deal by deal basis from as little as £5,000.
The idea was conceived to capitalise on a new investor mind-set, which sees individuals increasingly using technology and seeking out alternative asset investments, but lacking either the time or experience to properly mitigate their investment risk.
At the same time, CoInvestor benefits fund managers, who have rigid distribution models and are increasingly losing market share due to the growth of direct online investing, by giving them a secondary distribution channel to access these direct investors. This has been a key motivation for award-winning fund managers such as Oxford Capital and MMC Ventures to join the platform.
It also allows financial advisers to better advise their clients on how to mitigate risk and boost returns on alternative investments, helping them to retain their clients in a changing investment landscape.
CoInvestor has so far focused on launching an initial EIS product but is looking to rapidly expand its remit to further products (e.g. SITR, BPR, IHT) that reflect private investor trends, as well as asset classes, such as VC, private equity, institutional property and high yield debt, that have traditionally been limited to institutional investors.