Imbiba completes first close of £90m fund

Imbiba, a leading leisure, lifestyle and entertainment investor in growth brands, has completed the first close of its new £90m fund at around £70m, whilst completing its first investment into Little Houses Group. The new fund was led by “significant” investment from the British Business Bank alongside other investors including Asahi UK, and will provide growth capital to support the expansion of leisure, lifestyle and entertainment businesses. The first investment of the fund went to Little Houses Group, a collection of nurseries and family members clubs. The group was created by Charlie Gardiner, founder of award-winning hospitality business, Incipio Group. The first venue, Kensal House Nursery and Jaego’s House, features a nursery, creche, kids’ club, as well as a waterside cafe and restaurant, gym and fitness classes, treatment rooms and co-workspace. With “ambitious” plans to scale the business and multiple new venues planned in the coming years, Imbiba will provide capital and support for the management team to expand the business. Darrel Connell, managing partner, Imbiba, said: “The significant investment we have secured for our new fund is a huge vote of confidence for Imbiba and the wider leisure, lifestyle and entertainment sector in the UK. With our experience and track record, this new fund puts us in a unique position to support more leading entrepreneurs and high growth businesses than ever before, during a period of significant market uncertainly and volatility. “At a time when others are retreating from the sector we see this as the opportune time to support the brand heroes of tomorrow. We are incredibly grateful for the support of our investors who share our belief and passion for this great sector and recognise that times of turbulence brings exciting opportunity.” Tim Clay, managing director, Asahi UK, said: “Our business is focused on developing high quality, super premium brands – including beer, cider and soft drinks - and helping to deliver exceptional hospitality experience which drives commercial value in the marketplace, and Imbiba shares our ambition to drive the evolution of the on-trade experience for consumers. “The fund will directly support the on-trade sector during some unprecedented macro-economic changes, and operators will benefit in terms of funding, training, category and ranging support, staff retention programmes and much more. We are looking forward to developing a long-term vision in partnership with Imbiba, and enabling hospitality and leisure businesses to benefit from best practice sharing and forward-looking growth advice.” Imbiba’s current portfolio includes Pizza Pilgrims, F1 Arcade, Vagabond Wine, Clays, Farmer J, House of Gods, Leisure TV Rights, The Dream Corporation, Wireless Social, Purple Dragon, Big Fang Collective, Monkey Puzzle Nurseries and NQ64.