AXM Venture Capital Limited has launched the Creative Capital Fund (CCF) which will be investing in early stage creative industry businesses in Greater London. The CCF has £5m of cornerstone funding provided by the London Development Agency.
The fund’s aim is to help talented entrepreneurs and businesses in London’s creative industries achieve their potential by providing seed capital investment and business support. The initiative was established in March 2005 as part of the Creative London programme. Creative London is the strategic agency for the creative industries and is part of the London Development Agency.
The CCF will make equity investments of up to £75,000 in early stage companies. However, every £1 invested by the CCF must be matched by at least £1 in equity from private investors on the same terms. A £75,000 investment from the CCF will therefore be part of a funding round of at least £150,000. As each investee company grows and hits commercial milestones the CCF may invest further funds up to a possible total CCF investment of £500,000 (£1,000,000 including matching funding).
The core CCF team comprises Henry Fyson and Nick Caiger-Smith as investment managers, Rose Lewis and John Sanderson as investment advisers, and Fred Mendelsohn as chairman.
The team has access to a group of advisers who bring additional expertise from across the creative sector.