Finance Birmingham, a national provider of funding for growing businesses, has joined forces with Ascension Ventures, a fund focused on providing equity investments to early-stage digital media and tech business across the UK. The partnership will see Ascension advise on deals in its specialist sectors for Finance Birmingham, which manages Birmingham City Council’s £5 million Creative Fund.
The alliance will see chosen businesses supported not only by funds, but by a team of industry leaders, who will provide advice and guidance to support their growth.
Ascension Ventures is run by Jean de Fougerolles, a tech entrepreneur and pioneer in digital media. Ascension is supported by a large network of industry leading mentors including Peter Cowley, ex MD of Endemol Digital; Howard Litton, ex MD Nickelodeon; PJ Sebert, ex MD Eurosport; Jeff Jones, ex MD Disney Games; Jon Gisby, ex MD Yahoo UK and Mark Wood, ex CEO Future Publishing.
Sue Summers, Chief Executive of Finance Birmingham, commented:
“As a team we already focus on supporting the businesses we invest in, helping them in practical ways to achieve their ambitions. Through our new partnership with Ascension and the support of their exceptional list of mentors, we are confident of helping even more high growth businesses from across the UK.”
John Handley, Investment Director at Finance Birmingham will join Ascension as Chairman, building on Finance Birmingham’s commitment to provide much needed advice, as well as funds to the businesses it supports.
With demand for growth finance high across the UK, Finance Birmingham and Ascension are already planning a new growth fund to help tech businesses scale up their operations.
Ascension Ventures CEO Jean de Fougerolles added:
“I have been co-investing in innovative tech start-ups with Finance Birmingham over the past few years and am excited about the prospects for our joint venture. I look forward to working with John and the team to help innovative tech businesses thrive.”
