Imbiba completes first close of £90m investment fund

Leisure investor Imbiba has announced the first close at around £70m of its new £90m fund, and completed its first investment into Little Houses Group, a collection of nurseries and family members' clubs.

Led by significant investment from the British Business Bank through its Enterprise Capital Funds (ECF) programme, alongside other investors including Asahi UK, the new fund will provide growth capital to support the expansion of businesses from across the leisure, lifestyle and entertainment sector.

Darrel Connell, managing partner at Imbiba, said: "The significant investment we have secured for our new fund is a huge vote of confidence for Imbiba and the wider leisure, lifestyle and entertainment sector in the UK. With our experience and track record, this new fund puts us in a unique position to support more leading entrepreneurs and high growth businesses than ever before, during a period of significant market uncertainly and volatility. At a time when others are retreating from the sector we see this as the opportune time to support the brand heroes of tomorrow. We are incredibly grateful for the support of our investors who share our belief and passion for this great sector and recognise that times of turbulence brings exciting opportunity."

Little Houses Group was launched by Incipio Group founder Charlie Gardiner. The first venue, Kensal House Nursery and Jaego's House (pictured), which launched in London's Kensal Rise earlier this year, has a nursery, creche, kids' club, jungle gym and soft play, kids' cinema and snug, as well as a waterside cafe and restaurant, gym and fitness classes, treatment rooms and co-workspace. With plans to scale the business and open multiple new venues in the coming years, Imbiba will provide capital and support for the management team to expand the business.

Connell added: "Little Houses Group is the perfect example of the kind of business we're looking to invest in; highly differentiated, best-in-class and scalable with a highly credible management team. We're excited to work with Charlie and his team as the business expands in the years ahead."

Imbiba's investment portfolio includes Pizza Pilgrims, Vagabond Wine, House of Gods, Big Fang Collective and NQ64.