CompaniesNov 23 2015

Lansdown joins Edge Investments

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Lansdown joins Edge Investments

Edge Investments has today (23 November) announced Stephen Lansdown, the co-founder of Hargreaves Lansdown, is becoming a partner and shareholder in the firm, through the private equity arm of his family office, founded with and managed by Gordon Power.

Mr Lansdown has in the past invested in a number of Edge Investment’s funds, and has taken a 10 per cent stake in the firm and will work alongside David Glick, Edge’s founder and chief executive as he expands the business.

However, terms of the investment were not disclosed.

Last week, the firm announced the launch of its £40m Edge Creative Enterprise fund, its largest fund-raising to date, with backing from the British Business Bank.

It is now evaluating a number of creative industries business with a view to starting to deploy the fund in 2016.

Mr Lansdown co-founded Hargreaves Lansdown with Peter Hargreaves in 1981 in Hargreaves’ spare bedroom.

He was chairman until 2009, and stepped down from the Board in 2012 to pursue other ventures.

He said: “I have enormous respect for the role Edge plays in funding young, fast-growing creative industries businesses.

“So I was delighted to take this opportunity to acquire a stake and support David and his colleagues as they develop the business. This is an industry with enormous potential for entrepreneurs and investors alike and Edge is the perfect firm to bring those two groups together successfully.”

Mr Glick said: “I am very pleased that a businessman and entrepreneur with such a phenomenal track record is joining us and backing our firm. I look forward to working with Stephen and Gordon, and believe they can offer us invaluable wisdom and support as we develop Edge.”