Media firm enriched with £2.1m investment
Ariadne brings together entrepreneurs to invest in Enrich Social Productions
Media creator and distributor Enrich Social Productions (ESP) has secured £2.1m funding from a group of successful entrepreneurs and investors brought together by Ariadne Capital.
New media investment firm Edge Performance VCT led the funding round, with other investors including Andrew Black, founder of Betfair; Mark Blandford, founder of Sportingbet; Philip Highlander, principal of strategic investments at Goldman Sachs and Richard Glynn, chairman and former CEO of SportingIndex.
Ariadne, the investment and advisory firm founded by Julie Meyer, holds a founding equity stake in ESP and has advised the business through two funding rounds since 2007, the latest of which included many of the firm’s original investors.
ESP creates and distributes media formats across different platforms both online and in the real world, such as 1Click2Fame, an online talent competition.
Meyer said: “ESP could see that the development and distribution of formats, which the UK does well, would move online.
“I was involved in the interpreting of the BBC’s Dragon’s Den format to the web and so was intrigued to be part of a venture which would do that on a broad scale: in this way Britain’s Got Talent has become 1Click2Fame, which is broadcast to the web, mobile and into Tesco stores.”
Jonathan Lakin, co-founder of ESP, said the money would be used for making it easier for people to access the firm’s media products, particularly in the ‘real world’.
He added: “We know there are some fantastic opportunities out there for ESP and having this capital behind us will really light the touch paper.”
© Crimson Business Ltd. 2009