First investment advisory management unit for gay businesses
Galileo Capital Management has announced the launch of LGBT Capital, the first corporate advisory and investment management unit exclusively for the lesbian, gay, bisexual and trans market.
The firm says it will offer corporate advisory and business development services for companies which serve the LGBT consumer sector, along with an investment fund for companies across the world which cater to the community.
Co-founder of LGBT Capital, Paul Thompson, said business owners in the gay market often lacked the “expertise, correct capital structure or know-how” to access funding.
He said: “We believe there is a significant opportunity to provide the financial expertise typically found within an investment banking context to LGBT companies, which in turn would allow quality companies to secure funding”.
Mr Thompson added: “An LGBT-oriented resort was up for sale recently but despite many parties expressing interest, sufficient capital could not be raised by any one company or investor on their own.”
Galileo Capital Management has offices in London and Hong Kong.