Rushmore Group, the members’ club group led by Jonathan Downey, has raised £1m to develop a new venue in London, through crowdfunding investing platform Crowdcube in a deal that values the group at £10m. Crowdcube, which is a website that enables the general public to invest in UK-based companies, said that the fundraising, which attracted 143 investors, was a new record deal for crowdfunding, the method of securing smaller amounts of funding from a wide investment base. The group raised the growth finance in return for 10% equity. Downey said the funding would enable The Rushmore Group, which sites include Milk & Honey in Soho, to develop and launch an “exciting new venue” in Soho next year. He added: “We are delighted to have successfully reached our £1m target on Crowdcube. The group’s immediate aim is now the acquisition, refurbishment and launch of a new site in Soho, London.” Darren Westlake, co-founder and chief executive of Crowdcube, said: “Raising £1 million for a single business on Crowdcube is a fantastic achievement but not a surprise for us. We firmly believe that raising finance using crowdfunding will transform the way businesses raise capital in the future.” Downey, who recently closed his Tiny Robot restaurant and bar in Farringdon, currently also operates the restaurant and bar Giant Robot in Clerkenwell, the Redhook restaurant in Farringdon, the Danger of Death bar on Brick Lane, and the closed East Room in Shoreditch.