Jon Moulton and John Caudwell co-invest in fund

Better Capital, led by industry figurehead Jon Moulton, has launched its second fund, Better Capital Fund II, targeted at ?200m.

The UK turnaround investor has already raised ?158m under firm placing, with up to a further ?42m being made available to existing shareholders.

Moulton has already subscribed for ?30m of shares in the new fund, while Phones4u founder John Caudwell has invested a further ?50m. Couldwell’s brother Brian has also committed a further ?10m, giving the siblings a 28.8 per cent holding in the fund.

The latest fundraising effort comes as the business undergoes a restructuring to turn it into a ?protected cell company?. The firm’s existing assets, liabilities and listing will remain with its primary fund, while the latest fund is given a new listing and separately traded shares.

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