Clive Watson and David Bruce, the founders of the Capital Pub Company, which was acquired by Greene King for £70m in July, plan to start a new pub venture next year aimed at acquiring wet-led freeholds across the South of England. Watson, who is currently carrying out a six-month handover, plans to start an Enterprise Investment Scheme-backed business next year, which will have “the same ethos as Capital”. It is understood that former Capital shareholders have been sounded out about investing in the new venture, which hasn’t been named yet, will look to acquire traditional wet-led freehold pubs with a local feel. Watson told M&C Report: “Although I am not ruling out looking at taking pubs in London in the future, but I think that the market there in the run up to the Olympics will be frothy. There are locations outside the capital which have the same demographics in which well-run pubs can prosper.” Bruce stood down from the Capital board last month.