Health, sport and wearable technology startups will soon be receiving celebrity investment from former Wimbledon champion Andy Murray.
The British tennis star has announced that he will be joining the advisory board of crowdfunding firm Seedrs, an online platform that helps small businesses raise funds by selling their equity to anyone who wishes to invest in them, starting at just £10.
The role will see Murray investing regularly in startups and other early-stage businesses. Although Murray’s money will be involved, he will only be giving advice to Seedrs and not to any individual investors.
“I’ve always been interested in investment, and being able to get involved in an innovative way to help support British startups really appealed to me,” the British number one said.
Andy represents the exact qualities that entrepreneurs need to be successful
Seedrs claims this is the first time a major public figure has teamed up with a crowdfunding platform.
Jeff Lynn, Seedrs’ CEO, said: “Andy represents the exact combination of qualities that entrepreneurs need to be successful: determination, focus, integrity and skill.”
According to the Olympic champion’s management company Murray has always been a keen investor, owning his own management agency and a property portfolio that includes the Scottish hotel where he got married.
“Andy has been lucky enough to have support from sponsors throughout his career. For him the opportunity to give something back to help up and coming business men and women was very appealing,” said Matt Gentry who runs Murray’s management company.
The crowdfunding market has boomed in recent years with Seedrs reporting 15 per cent month-on-month growth every month since July 2012. The firm says it expects to be putting hundreds of millions of pounds into thousands of businesses this year.