Mobeus Invests £3.3M in UK-based Proactive Investors for US Launch
Mobeus Equity Partners has invested £3.3m of development capital in Proactive Investors, the leading provider of investor media services to mid- and small-cap listed companies in the UK.
Proactive Investors specialises in up-to-the-minute multi-media news provision, events organisation, digital services and investor research. Proactive Investors enables companies to connect with investors in an informative manner. Proactive specialises in providing breaking news, commentary and analysis on hundreds of small-cap listed companies and pre-IPO businesses across the globe, 24/7. As well as a multimedia business, the company organises investor conferences, delivers websites and website tools for listed companies, and compiles sell-side research. Platforms include www.proactiveinvestors.co.uk and www.StockTube.com
Mobeus has backed the business to take its services into the US, which is the largest global market with over 7,500 addressable customers and a very active retail investor base. Proactive’s US office will open later this month in Midtown New York. The capital will also be used to add resource to existing international operations and further roll out the recently launched investor tools and sell-side research offer to customers in the UK.
Proactive was founded in 2007 when Ian Mclelland (CEO) and Craig Ribton (UK MD) decided to turn their investor blog into a business. They now work with around 500 clients in the UK, Australia and Canada. Mobeus has introduced Colin Garrett, a veteran non-executive with a track record of growing UK businesses into North America, and Simon Frost, an experienced CFO.
This transaction represents Mobeus’s fifth investment in online businesses and its eighth growth capital deal in the last 18 months.
Amit Hindocha led the deal for Mobeus and will join the board. He said “We are delighted to be working with the high calibre team at Proactive. Ian and Craig have built a unique platform, working with smaller listed businesses that are rarely profiled by the main-stream investor publications. We are all excited about the opportunity to take Proactive’s proven model into the US, where there is no direct competitor.”
Ian Mclelland, Proactive CEO, added: “It is extremely pleasing to have closed this funding with Mobeus – investment we believe will transform Proactive. As this is the first outside funding we have ever received it was crucial we found the right financial partner and people for what we believe is going to be an exciting journey. In Mobeus we believe we have the former and in Amit and Colin the latter. It is worth noting that to date Proactive has been self-funding. It is testament to the committed and professional team and their efforts that we have secured this financial backing.”
About Proactive Investors:
Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of listed companies across the globe daily. We are one of the fastest growing financial media portals in the world. The group also operates hugely successful “investor forums” where three or four companies present to an audience of high net worth sophisticated investors, fund managers, hedge funds, private client brokers and analysts.
Source: Mobeus Equity Partners press release