The Creative Capital Fund (CCF) is delighted to announce the completion of its first investment in which it is backing a start-up venture called IS Publishing Limited.
IS Publishing
There are 2.7 million children in the country between the ages of 7-11 and the children’s magazine market is estimated to continue its strong growth of recent years.
IS Publishing aims to respond to the desire of parents and children alike for inspiring and challenging magazine and on-line content. The company will launch an imaginative, up-market magazine and website in the summer of 2006. The combination of magazine and website aims to encourage a strong dialogue between readers and publishers and to create a “clubby” feel. The magazine will be sold on news-stands and through subscription, while the website will be a safe and engaging internet zone for children to visit.
The funding
A total of £275,000 was secured, including both equity and debt finance. CCF’s investment of £75,000 was matched by private investors including the founder and a “business angel” whom CCF introduced to the company. The business is based in Curtain Street, London EC2, which is part of an Objective 2 area of London.
Fred Mendelsohn, Chairman of the CCF, commented: “We are very pleased to announce the CCF’s first investment. CCF was impressed by Kate Scarborough’s team and their commitment to pursuing this market growth opportunity. We look forward to working with IS Publishing to help the team achieve the full potential of their concept.”
Kate Scarborough, founder of IS Publishing, added: “Finding a venture fund that is focused on early-stage creative companies was a huge bonus during the fund-raising process. The CCF’s commercial expertise and experience in the creative sector proved crucial in crystallising the opportunity. They have contributed much more than just funding – knowledge of publishing, industry contacts, other sources of investment and ongoing support to management.”