Ibis gains £500,000 from MMC
The social housing company gains further investment
Ibis Project Services Limited has gained a further £500,000 of equity funding from MMC Ventures, the venture capital firm.
The consultancy company will use the money to bolster its position in the social housing sector. MMC first invested in Ibis in 2006 and the deal is a sign of confidence in the company, which appointed Vivian Rosser as its managing director last October. “Ibis will now diversify the range of services it provides to developers and landowners to help them respond to and adapt to difficult market conditions, and to assist delivery of government targets for the supply of affordable homes,” Rosser said. “While the next 12 months are going to be tough for the general property sector we believe that the political imperative to provide social housing will result in significant funds being made available for this part of the sector.” © Crimson Business Ltd. 2009