Tennis champion Andy Murray is poised to start investing more of his millions into UK technology startups after signing a partnership deal with London-based equity crowdfunding platform Seedrs.
Through Seedrs, the Wimbledon winner will be making “regular” investments into startups and other early-stage firms, it was revealed today.
“I’ve always been interested in investment, and being able to get involved in an innovative way to help support British startups really appealed to me,” said Murray. “Equally as important was working with people I trusted and who fully understood the huge responsibility of handling people’s money. I’m looking forward to working with Seedrs and the entrepreneurs of tomorrow.”
Murray, who has already invested a number of companies and the luxury Cromlix hotel in Scotland, will join the Seedrs Advisory Board where he will provide advice to the firm with respect to businesses working in the health, sport and wearable technology spaces.
However, Murrary will not be offering advice to individual investors or recommending specific campaigns.
Matt Gentry, who runs Murray's management company, 77, said: “Andy is a keen investor, with his own management agency alongside a property portfolio, which includes a hotel.
“Crowdfunding is a space we’ve been looking at for a while, to complement his business interests, and he's excited about being able to help startup businesses and entrepreneurs in the UK.
“Andy's been lucky enough to have support from sponsors throughout his career, not only helping to aid him and his team financially, but also adding valuable mentoring in many cases. For him the opportunity to give something back to help to up and coming business men and women was very appealing.”
Equity crowdfunding is changing the way startups and other early-stage businesses raise money. Platforms like Seedrs, Kickstarter and Indiegogo allow startups to raise funds by obtaining multiple small investments from a large number of people through online platforms.
This form of business fundraising is proving increasingly popular, and it allows businesses not only to obtain the capital they need but also to build a community of supportive investors who can help them grow.
Jeff Lynn, CEO and cofounder of Seedrs, said: “Andy Murray is the perfect partner for Seedrs as we drive our growth to the next level. In many ways, he represents the exact combination of qualities that entrepreneurs need to be successful: determination, focus, integrity and skill.
“We are particularly looking forward to working with him as a member of our Advisory Board: we believe he can bring a different perspective into certain aspects of the early-stage business community in the health, sport and wearable technology spaces, and we look forward to his input and support.”