Gate Ventures PLC: Investment in Rise Art Ltd.
17 November 2017 - 1:18AM
Gate Ventures
PLC
Investment in Rise Art Ltd.
ISIN Number: GB00BYX2WP92
TICKER: GATE
Press Release
Thursday 16 November 2017
Gate Ventures
PLC
("Gate Ventures" or "Gate" or the "Company")
Investment in Rise Art
Ltd.
The Directors of Gate Ventures PLC
are pleased to announce that the Company has committed to make a
£1,293,250 investment in Rise Art Ltd. ("Rise Art") which will
acquire a 15% stake.
Rise Art is the online e-commerce
marketplace for contemporary art, hand-picked by experts. They are
leading the art-tech revolution, helping consumers find and own
original works of art from professional artists with their online
marketplace and unique try before you buy art rentals. Founded
in 2011 by Scott Phillips and Marcos Steverlynck, and based in
London, the company now works directly with over 500 artists, has
more than 50,000 art works on offer and ships art to 35 countries
worldwide.
Rise Art was introduced to us by
Areteos, Gate's Chairman's family office. As part of the £1.3m
investment, £593k was purchased directly from Areteos on the same
terms as the direct investment. The investment was voted and passed
by the Board of Gate Ventures, the Chairman abstained on this
vote.
»We see immense potential in the
disruption of the art sector and consider Rise Art a potential game
changer. Thus Gate Ventures are looking forward to work with Rise
Art management to make lasting improvements to their market
offering and value proposition - and to help open up new markets«,
said Gate Ventures Chairman Dr. Johnny Hon.
»Rise Art is really pleased to
welcome Dr Hon and Gate Ventures as an investor in our most recent
funding round. Gate brings with them a deep knowledge of both the
art market and e-commerce, and will be especially helpful as we
build out our business in Asia, said Scott Phillips, Founder &
CEO of Rise Art.
-END-
Further Enquiries:
Gate Ventures PLC (The Company):
assistance@gateplc.com // +44 (0) 20 3150 2477
Keswick Global AG (Certified Adviser):
info@keswickglobal.com // +43 1 740 408045
Rossen & Company ApS (Financial PR):
nic@rossen.com // +45 2072 9972
Notes to Editors:
Gate Ventures was founded in 2015 to make
investments and capitalise on investment opportunities in the media
and entertainment sectors. The Company focuses primarily on
investments and operational opportunities in the UK and China
covering theatre, television, media technology and
e-commerce.
The Company's investments include various theatre
productions such as the successful Sunset Boulevard and 42nd Street
(which is currently showing in London), virtual reality ("VR"), and
technology companies Bink and PlayJam amongst many others. Gate
Ventures has made a total of ten investments since it was
established, and to date, has successfully raised over EUR24
million reflecting the Company's significant growth thus
far.
-END-
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Gate Ventures Plc via Globenewswire
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