Business
Envestors closes Style-Passport funding
Envestors closes Style-Passport funding.
About this update from Truetide Plc
[{"type":"text","content":"\n \nRNS Number : 8144C Braveheart Investment Group plc 08 May 2012 \n \n\n8 May 2012\nBraveheart Investment Group plc \n \nEnvestors closes £500,000 equity funding for Style-Passport\n \nBraveheart Investment Group plc ('Braveheart', the 'Group' or the 'Company') (BRH), the AIM-listed investment management group specialising in venture capital investments and investment services to business angels, high net worth individuals, family offices and public sector organisations, announces that Envestors Limited, its wholly owned subsidiary, has closed an equity fundraising for Style-Passport Limited, the online fashion and beauty service for leisure travellers.\n \nStyle-Passport is a women's online magazine and store for holiday fashion and beauty. From designer labels to essential wardrobe staples, Style-Passport enables its users to achieve the fashion editors' best practice of travelling light and looking beautiful and appropriate in any occasion away from home. Elegant and easy to navigate, www.style-passport.com expertly edits selections of clothes and beauty products for life's good times - beach holidays, city breaks, ski trips, weekends outdoors around a camp fire or a day at the spa. \n \nOf the £500,000 raised, £185,000 was provided by members of the Envestors private investor network, £225,000 was provided by the Angel Co-Fund and the balance was provided by other investors. The Co-Fund was established in November 2011 with a grant from the Regional Growth Fund to invest alongside business angel syndicates in companies across England.\n \nScott Haughton, a Director of Envestors, said: \"Style-Passport has a good growth story and we are delighted to have closed this funding with the Angel Co-Fund. This is the first occasion we have worked with this new fund which promises so much for the angel community.\"\n \n\"Online fashion is growing fast,\" commented Sarah Walter, Founder and Managing Director of style-passport. \"We have identified and developed an exciting, potentially highly lucrative niche in the industry - people who travel, and marketed it in a ground-breaking way. The results have far outreached our most optimistic expectations and we are ready to accelerate this progress. \n \n\"The funding provided by Envestors and the Angel Co-Fund enables us to advance our...