BBH establishes new venture capital fund

Neil Munn: Zag chief executive
Neil Munn: Zag chief executive

Bartle Bogle Hegarty is launching a venture capital fund, to be called The Black Sheep Fund, to invest in brand-centred businesses in the consumer, digital and media sectors.

BBH is launching the fund in partnership with Spark Venture Management, a venture capital company whose previous investments have included and

BBH's brand invention unit, Zag, is providing an initial "cornerstone" investment to start the fund, which is aiming to raise £10 million to provide capital for start-ups. It will also offer the skills and expertise to help new businesses establish themselves and grow.

Zag, which was launched in 2006 and floated on AIM last year, has a market value of £10 million. The unit's launches include Ila, the rape alarm brand, and Bo Peep, an accessories brand.

Neil Munn, the Zag chief executive, said: "The Black Sheep Fund is a really exciting new way for us to identify and invest in brand-based start-ups. Our approach to deal flow and due diligence is very complementary to that provided by Spark. Our ambition is that The Black Sheep Fund becomes a competitive source of funding in the market place."

Tom Teichman, the chairman of Spark, said: "Now we will be harvesting and harnessing the brilliant start-up ideas in a systematic way."

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