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Business News Management & Funding
Edge fundraising brings in three times as much as last year
By CMU Editorial | Published on Thursday 22 April 2010
Entertainment investment fund Edge Performance has raise £32.1 million in its latest round of fundraising, which suggests the money people of the world are spending money once more, post the credit crunch wobble.
Though I’m sure Team Edge would like me to point out it also suggests everyone in the investment community thinks they are the dogs bollocks when it comes to investing in entertainment-based ventures. Either way, this year’s fundraising efforts have put three times as much in Edge’s investment pot than last year’s. I hope they’ve got a pot big enough. If not, I’m sure I could store some of the excess cash in my desk drawer. You know, the big one designed to take to take files and stuff.
Anyway, we got Edge founder David Glick to say something. Here it is: “Too many great businesses in the entertainment industry struggle for want of the investment they need to grow. Edge’s success in raising funds for the sector will allow us to play an increasing role in helping good executives reach their potential”.
Explaining why this year’s fundraising has gone so well, he continued: “Key to our success has been the timely, above target, return in June last year of cash to holders of Edge’s original 2006 Ordinary share issue. When we started out, investors had long believed that the entertainment business was too risky a business to countenance. By leveraging our industry knowledge and targeting our investment on executives with a real track record we believe we have gone a long way towards reshaping that perception”.
