By Ryan Weeks on Wednesday 28 September 2016
Early stage equity crowdfunding platform Growthdeck merges with Radius Equity.
Growthdeck, the latest in a string of platforms to seek to “professionalise” the equity crowdfunding space, is merging with professional investor syndicate Radius Equity. At the same time, Growthdeck has appointed Steve Robinson, former CEO of Tesco Direct, as its new CEO. Former Growthdeck CEO Gary Robins becomes strategy director.
Radius Equity is an established high net worth investor club, of which Robins remains an active director. The group specialises in EIS and SEIS investment opportunities, and has completed and managed “hundreds” of private equity investments over the years. Radius will continue to exist as an invite-only investor club for high-net worth investors, operating under the Growthdeck parent brand. These high-net worths will receive “additional benefits”, including early access to deals, closer involvement with investee businesses and access to exclusive networking events.
The latest merger with Radius has the Growthdeck team hailing the creation of a “unique/premium VC-crowdfunding hybrid”. The firm’s intention is to marry the best elements of venture capital/private equity with the best elements of equity crowdfunding. Due diligence standards are at the top of Growthdeck's list – as they have been for the likes of VentureFounders and CoInvestor before them.
“Growthdeck’s due-diligence focused approach to investment will help private investors finance young and exciting but sustainable businesses,” said new CEO Steve Robinson. “Additionally, Growthdeck ensures sufficient checks and balances are in place to give investors the best chance of seeing a good return.”
Robinson comes from a retail background, having served as FD at Argos and customer director at B&Q, in addition to a stint as CEO of Tesco Direct. Gary Robins, now strategy director at GrowthDeck, said: “Steve brings a very impressive breadth of business and finance experience. Having worked both for major corporates and smaller but highly ambitious companies puts him in an ideal position to lead Growthdeck.”