Revealed: Glasgow funder acquired
Crowdfunder Squareknot in Growthdeck merger
Derek Bond (pictured), managing director of Squareknot since it launched three years ago, will take on a senior role in the combined business, and Kirsten Buchanan will continue in her marketing support role. The company will also remain in Gordon Street in Glasgow.
In a statement, he said: “Growthdeck share many of the same values as Squareknot. I am therefore delighted that Squareknot and Growthdeck have reached agreement to marry their interests with the aim of making Growthdeck one of the leading players in the dynamic equity crowdfunding sector.”
He added: “I am really proud of what we have achieved over the past 3 years to establish Squareknot as a respected platform in the fast-growing UK equity crowdfunding sector.”
He said equity crowdfunding is growing strongly, and new entrants are coming in with ambitious plans to radically enhance how it is done.
Growthdeck has an experienced investment team, formerly with 3i, LDC, Goldman Sachs and others, who will be supported by a panel of sector experts drawn from many different industries.
It is private equity backed, and comes to the market with an established network of investors, primarily in London and the Midlands.
Co-founders are Gary Robins, who has been in the private equity arena for 30 years, including half that time as an investment director with 3i, and James Wrighton who has spent many years designing channels and products for the companies such as Barclays, Coutts, UBS, Credit Suisse, ABN Amro, Standard & Poor’s and many other financial institutions.
Mr Bond said: “By coming together, we believe we can become one of the leading players in the sector.
“Our focus will be on funding larger investments (typically £0.5m-1m) into early stage and growth companies and offering both investors and investee companies more of an added-value service. Investors will be able to invest in individual companies for sums of £1,000 and above.
The first live offers, including the opportunity to invest in Growthdeck itself, are on a new platform. Squareknot will transfer its account holders to this new site.
More details on the merger will be unveiled in March.