Mohsin Issa, Asda co-owner, unveils investment fund to support UK start-ups, inspired by his entrepreneurial journey.
- Boulder Investco, an offshore vehicle, is the foundation for these new investments, marking a significant shift in Issa’s business strategy.
- A major investment includes the backing of GoThrift, a Manchester-based second-hand clothing platform, competing against established rivals like Vinted.
- An additional £10 million injection supports Applied Nutrition, a Liverpool-based protein powder company that recently entered the stock market.
- This initiative highlights Issa’s commitment to UK businesses, driven by partner Victoria Price’s passion for entrepreneurship.
Mohsin Issa, known for his role in Asda’s ownership, has announced the creation of a new investment fund targeting dynamic UK start-ups. The fund, named Boulder Investco, operates from Jersey and represents a bold move in Issa’s investment approach, focusing on burgeoning businesses within the UK.
Boulder Investco’s early ventures include taking a stake in GoThrift, a thriving second-hand clothing site based in Manchester. This investment positions GoThrift as a notable competitor to established platforms like Vinted. The decision reflects a strategic interest in the rapidly growing second-hand market, tapped into by the burgeoning circular economy.
In addition to the investment in GoThrift, Boulder Investco has allocated £10 million to Applied Nutrition. This Liverpool-based protein powder enterprise, which recently went public, epitomises Issa’s inclination towards businesses with strong growth trajectories.
The driving force behind these ventures is not solely Issa. Victoria Price, Issa’s partner and a former accountant at EY, plays a pivotal role. Price articulated her enthusiasm for supporting innovative UK businesses, underlining this initiative as a personal passion.
Issa’s departure from the CEO position at Asda in September marks a transition towards broader business pursuits. His history of successful investments alongside his brother Zuber, with interests in EG Group and Castore, provides a solid foundation for these new ambitions. However, Zuber is not involved with Boulder Investco.
Issa and Price’s efforts underscore a commitment to nurturing UK entrepreneurial ventures, aligning with broader trends in business and investment.
Mohsin Issa’s launch of Boulder Investco signifies a forward-thinking step in supporting UK start-ups, with a focus on innovation and growth.
