Billionaire entrepreneur Richard Branson will make the first steps in the world of equity investment.
The founder of Virgin Group will partner with London-based Metric Capital in managing a new fund that will seek shares in businesses with consumer-focused businesses such as food and drink, luxury and leisure.
Initially, the partnership will seek to raise 500M euros from institutional investors and focus on Europe and the United States.
According to Branson, John Sinick, the founder of Metric Capital, has been known for over twenty years.
“I was impressed with the growth of Metric Capital,” said Branson. “Their experience in rapidly changing consumer and digital markets is particularly attractive and I look forward to helping John and his team with this new fund.”
The Fund, considered the first of the three to be launched in the coming years and it will seek at least a 20% return.
“The Financial Times” also reports that the fund will donate 10% of its profits to charitable organizations supporting women and children.