The private venture capital company, Audere Capital, has taken a significant minority stake in Cardiff-based Cake Communications.
Audere Capital, which has made investments totalling £1.8M in the media and fashion sectors, was founded by investor Richard Alvin. Previously head of PR for the London Docklands Development Corporation, he founded business media publishing and research company Capital Business Media, based in London and New York. He is also a keynote speaker, investor, business mentor and board member for a number of new-start companies.
The deal sees Alvin join the board of Cake Communications in an Executive Director role, and the opening of a new Canary Wharf office for the consultancy. Sheraz Akram of commercial law specialists DJM Solicitors advised on the deal.
Cake Communications was established in 2011 by award-winning PR consultant, and former journalist, Sara Robinson. Based in Caspian Point in Cardiff Bay, Cake is an independent communications agency offering multi-platform communication campaigns, digital strategy, social media management and training.
Cake’s client list includes organisations in the legal, healthcare, education, retail, property, technology and charity sectors. It is the current Chartered Institute of Public Relations Outstanding Small Consultancy of the year.
Commenting on the deal, Richard Alvin said:
“I was very taken with the drive of Cake’s founder Sara Robinson, which permeates through her team. The client portfolio they have amassed for an agency in its infancy means that it has the potential to grow to great things.
“Having previously been responsible for managing a £3M contract with one of the then largest PR agencies in the UK – and now coming into contact with numerous agencies through my direct involvement with Capital Business Media – I’ve seen first hand how Cake Communications provide their clients with an excellent level of service.
“Through my investment and board membership I aim to help grow the existing client base across the UK whilst retaining the independent spirit ingrained in the company.
“Given that I come into contact with a hundred or so agencies every week, the fact that I approached Cake Communications with a view to making an investment speaks volumes. I am very pleased that we have been able to structure a deal to help Cake to grow and establish a national presence.”
Managing Director Sara Robinson said:
“Having signed a City-based investment fund as one of our first clients, we have always been ambitious about developing a broad, truly national client base.
“With this new investment secured, the next year promises to be an exciting one for our team. The deal means our clients can now benefit from a range of in-house services including cutting edge tablet and smartphone publishing technology, social media apps and sophisticated online research software.
“We are also delighted to have a new director of Richard’s calibre on board. We are confident that his industry knowledge, expertise in large-scale projects and track record of working with SMEs will be invaluable to us as we look to achieve growth.”