ETM Group’s founders are looking to raise £4.3m to fund new venture Maven Leisure.

The new business, led by ETM co-founder Ed Martin and the group’s management team, is looking to open seven new bars in London, including a flagship rooftop bar in the City’s King William Street.

ETM’s Ed and Tom Martin are looking to raise the funds via private equity investment firm Growthdeck in order to capitalise on the historically low rents available in the capital, giving them access to new premium sites.

The new finance will be raised as a mix of debt and equity to fund the fit-out and pre-opening costs for the group’s first three bars and restaurants.

As well as the King William Street site, the business is also in advanced negotiations for two further sites.

Gary Robins, head of business development at Growthdeck, commented: “COVID has pushed rents on bars about as low as they will go. The London bar scene has exploded back into life in the last few weeks. We’re backing Maven to deliver significant growth for our investors as revellers flood back into central London’s premium bars.”

“Sites are being offered at rents that could not have been dreamed of 15 months ago.”

The King William Street site will feature an all-day premium indoor bar and restaurant space, and heated terraces, with the bar offering 360° views of the London skyline.