Tennis champion Andy Murray has teamed up with crowdfunding site Seedrs to invest in businesses he believes in.
The move will see Murray join the company’s board to advise them on businesses working in health, sport and wearable technology industries, although he won’t offer personal advice or mentoring to individual investors. The Scottish tennis player is also expected to invest money in start-ups and other early-stage businesses that he considers viable.
“I’ve always been interested in investment, and being able to get involved in an innovative way to help support British start-ups really appealed to me,” said Murray. “Equally as important was working with people I trusted and who fully understood the huge responsibility of handling people’s money.”
The partnership marks a first in terms of a public figure teaming up with an equity crowdfunding platform. Equity crowdfunding involves raising funds by obtaining many small investments from a large number of people through online platforms.
Talking about Murray’s interest in crowdfunding, Matt Gentry, who runs Andy’s management company, said it was a space he’s been looking at for a while. “He's excited about being able to help start-up businesses and entrepreneurs in the UK.”
“Andy's been lucky enough to have support from sponsors throughout his career, not only helping to aid him and his team financially, but also adding valuable mentoring in many cases. For him the opportunity to give something back to help to up-and-coming business men and women was very appealing.”