As a formal member of the Seedrs advisory board, he will not be providing advice to specific investors or recommending particular crowdfunding pitches, but will be “investing regularly” as he helps to grow the London-based platforms presence both in the UK and overseas.
The partnership is not the first time that the world number three tennis player has made moves in the business world. In 2013 he purchased Perthshire property Cromlix House for £1.8m, before opening it as a five-star hotel a year later.
Explaining his decision to become and advisor at Seedrs, Murray said: “I’ve always been interested in investment, and being able to get involved in an innovative way to help support British startups really appealed to me.
“Equally as important was working with people I trusted and who fully understand the huge responsibility of handling people’s money. I’m looking forward to working with Seedrs and the entrepreneurs of tomorrow.”
Since launching its offering in July 2012, Seedrs has posted 15 per cent month-on-month growth and has closed nearly 200 deals to date. Having already set up operations in Europe, Seedrs is planning a move into the US later this year.
Getting Murray on board is the first time a “major public figure” has partnered with an equity crowdfunding platform in this way, according to a statement. Also on the Seedrs advisory board are Zopa CEO and co-founder James Alexander, Lyft CEO and co-founder Logan Green and angel investor Dale Murray.
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Lord Young of Grantham, who is the prime minister’s former enterprise advisor, believes that with both modern tennis and equity crowdfunding having their origins in the UK, it is “wonderful” to see the two coming together.
“I believe the outcome of it will be to see more great British businesses raising the capital they need, and more investors having the chance to be part of those businesses.”
The announcement is the second major one inside a month for Seedrs, after the launch of a venture capital fund fundraising by serial entrepreneur Mark Pearson.
Jeff Lynn, CEO and co-founder of Seedrs, who will also be speaking at the upcoming Real Business Value Creation conference on 25 June, commented: “In many ways he [Andy Murray] represents the exact combination of qualities that entrepreneurs need to be successful: determination, focus, integrity and skill.
“We are particularly looking forward to working with him as a member of our advisory board: we believe he can bring a different perspective into certain aspects of the early-stage business community in the health, sport and wearable technology spaces.”
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