IBIS prepares for take-off

Former EMAP boss Sir Robin Miller heads the team behind two new venture capital trusts conceived to support small UK-based media companies.

Erstwhile EMAP finance director Gary Hughes and Foresight Venture Partners founder Peter English join Miller, who will act as chairman on the powerhouse board.

IBIS Capital is keen to raise a combined £30 million for its twin trusts, which founder David Forster confides will look to back a multitude of businesses right across the media sector. The emphasis, Forster adds, will be ‘post-start-up. Investee companies won’t necessarily have to be already profitable, but they will need to have a clear route to profitability within one or two years and trends will have to be moving in the right direction.’

Businesses with market valuations of between £5 million and £30 million will be considered and Forster reveals they are running the rule over three or four potential investments.

The twin trust structure, previously adopted by Octopus for its Eclipse 3 & 4 VCTs, will enable IBIS to invest up to £2 million in portfolio companies each year.

Leslie Copeland

Gordon Yost

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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Venture capital funding