New Investor for G Entertainment
G Entertainment Plc has received another financial boost with an agreement for nearly €600,000 of extra funding from a strategic investment firm.
Private equity and venture capital firm Nearchi Investment Plc has agreed to invest €599,999.87 subject to a subscription agreement.
Nearchi Investment Plc is listed on the Cyprus Stock Exchange and has investment backing from clients across the world. The core focus of the firm is deploying capital into the Cypriot economy within a variety of sectors.
This latest investment will mean G Entertainment will have raised a total of €4.5 million in additional funding since the company floated on the Cyprus Stock Exchange in December, last year.
G Entertainment CEO, Brooke Greville, said: ‘It’s another tremendous boost that Nearchi Investment has decided to make this investment.
‘The fact that it has investors from across the world fits in with our continuing vision of a global business trading in multiple territories.
‘For G Entertainment to be regularly getting large additional financial investments shows that others share our confidence in the future growth of the company and the projects to which we have already committed.
'We are continuing to source and evaluate deals, within the relevant entertainment sectors, internationally and we look forward to making further successful investments soon.'
G Entertainment’s three major investments so far have been in hit West End show 42nd Street; an advanced deposit wagering platform based in the Asian-Pacific region, called Single Yard Holdings; and a new white-labeled social media platform called SportsSideKick which connects elite sports clubs with millions of fans to create new markets.