Maven Leisure, the premium bar group from the directors of ETM, has secured a £4.3m fundraise Growthdeck.

Maven is looking to open at least seven premium bars in central London supported by this funding.

It has been structured as £2.3m in EIS-qualifying equity and £2m in mezzanine debt and will be used to take advantage of what it described very favourable conditions for acquiring prime landmark London sites.

Maven’s group of bars will be anchored by a landmark new rooftop site on King William Street in the City of London, featuring an all-day, premium, indoor bar and restaurant space, with terraces heated and lit for year-round use and 360° views of the London skyline. Additional sites will be added in the next 12-24 months.

Maven has been established by the current owners and senior management of ETM Group, with bars including Aviary, The Botanist Sloane Square and premium sports bars Greenwood and Redwood.

The team has grown ETM Group from a single site to a business turning more than £35m, with no external equity funding and looks to use this expertise to grow Maven Leisure in a similar way.

Ed Martin, chief executive of Maven Leisure, said: “Hats off to the Growthdeck team in helping Maven raise £4.3m in seven days. It demonstrates the resilience of the wet led central London market in the eyes of our new investors and is testament to the offer and the strength of the team at Maven.”

Topics