The investment is being made via the private equity arm of Lansdown’s family office, founded with and managed by Gordon Power. Lansdown is taking a 10% stake in the firm and will work alongside Edge’s founder and chief executive David Glick.
Edge launched its £40 million Edge Creative Enterprise Fund last week. Backed by the British Business Bank, it was Edge’s largest fund-raising to date. Edge is now evaluating a number of creative industries businesses with the intention of starting to deploy the fund in 2016.
The full terms of Lansdown’s investment have not been disclosed. Lansdown, who is the co-founder of FTSE 100 financial services group Hargreaves Lansdown, has previously invested in a number of Edge’s funds.
Lansdown was chairman of the investment group bearing his name until 2009 and brought it to the stock market in 2007, but stepped down from the board in 2012 to pursue other ventures. Today Hargreaves Lansdown has a market value of £6.7 billion.
“I have enormous respect for the role Edge plays in funding young, fast-growing creative industries businesses,” he said. “So I was delighted to take this opportunity to acquire a stake and support David and his colleagues as they develop the business,” said Lansdown. “This is an industry with enormous potential for entrepreneurs and investors alike and Edge is the perfect firm to bring those two groups together successfully.”
