Redrice Ventures, which has reached a £50 million first close, has formed an exclusive partnership with Walpole to provide support for young brands in the luxury products sector. It is targeting around 25 investments ranging from £250,000 and £3 million, taking equity stakes of between ten and fifteen per cent. It already has investments in Castore, Dai, and War Paint.
Redrice has brought together a combination of operators and investors to provide hands-on expertise for founders. The team includes former CEOs of Saatchi & Saatchi and Thoms Pink, and early-stage investors Andrew Sutcliffe, Oskana Stowe and Tom March. The team’s advisors include Arnaud Massenet.
Redrice’s fund has secured the support of the British Business Bank as the cornerstone investor.
Tom March, founder & partner of Redrice commented: “We’re really excited to launch this fund aimed at developing the next generation of premium consumer brands in the UK. Our brands have so far secured fast growth through challenging and disrupting established markets and established incumbents.”
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