CoInvestor, an alternative investment platform for sophisticated private investors, has raised GBP1.1 million in additional capital in under two weeks as it seeks to accelerate its growth six months after its full launch.
The funding builds on pre-existing capital raised from a number of individual and corporate investors, with 60 per cent of the new funds coming from existing shareholders and 40 per cent from new investors.
The business has also strengthened its advisory board with the addition of Ian Peacock (pictured), 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 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 – a white-label digital solution for wealth managers seeking to close the advice gap in alternative assets investments.
Charles Owen, founder of CoInvestor, says: “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 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 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 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.