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Soho House backer raises £100m for millennial start-ups

By Hazel Davis

Active Partners will target high-growth businesses in travel and experience economy with new fund

Soho House backer raises 100m pounds for new fund

The backer of media world private members’ club Soho House has raised £100m ($131m, €118) for a new fund aimed at millennial businesses.

Active Partners, which was co-founded in 2004 by former BBC chairman and Goldman Sachs partner Gavyn Davies and entrepreneur and investor Spencer Skinner, includes fast food chain Leon and entertainment company Secret Cinema, which specialises in immersive experiences, among its other investments.

The firm says its new fund, APIII, will back high-growth businesses.

Active Partners has total assets of more than £250m and says it aims to invest “£2m-£10m+ over the life of an investment and take both minority or majority positions”. It is looking at opportunities in travel and the experience economy for the new venture, which has invested 15 per cent of its capital so far.

“Today we see a real appetite for something new,” Skinner told Bloomberg. “We’ve only scratched the surface of what’s to come. It’s a truly exciting time.”

FURTHER READING: Funding for ‘on-demand’ start-ups wanes

FURTHER READING: Venture capital explained

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