In June 2015, it was announced that Andy Murray was to be involved with Seedr, the London-based equity crowdfunding platform. With this, he was to invest millions into UK-based start-ups, such as healthy eating chain Tossed.
Indeed, the current world number two tennis star is still investing right now, and has recently backed five more UK companies. Intriguingly, they couldn’t be more varied. They include ice cream maker Oppo, peer-to-peer mortgage group Landbay, travel subscription service CommuterClub, digital magazine company Readbug and film-streaming firm We Are Colony.
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It is certainly not easy being a start-up, and Murray’s motives seem to be targeted towards alleviating some of the struggles small businesses will inevitably face. “Giving recognition and support to British entrepreneurs is important to me, especially those who are the driving force behind growth-focused businesses.”
He joins a host of athletes who are also expanding their investing horizons- but why? Shortly before the beginning of Murray’s partnership with Seedr, famous soccer players Cristiano Ronaldo, Andres Iniesta, Michael Owen and Louis Saha entered the game.
Whilst Owen and Saha are now retired, Ronaldo and Iniesta, two of the modern era’s greatest players, have joined Murray in twinning their playing commitments with investing. Ronaldo has invested in Mobitto, a Portuguese app which rewards users for interacting with their local businesses, and Iniesta has financially supported body-mounted camera makers FirstV1sion.
As is routinely the case, the pay packets professional athletes receive are widely condemned. They are constantly snapped in their Ferraris, clad from head-to-toe in designer gear and are therefore tarred with the brush of materialism and greed. However, the hundreds of start-ups which have been supported by athletes’ deep pockets may be even lower on the ladder of success without these financial opportunities.
And so, these partnerships are mutually beneficial. Athletes have a chance to improve their image and make a healthy return, whilst start-ups, like those mentioned, have that vital kick-start early in their lifespan. It undoubtedly remains a high-risk-high-reward game, but the risk is certainly more easily mitigated by people like Ronaldo, Iniesta and Murray.
What also must be appreciated is what we, the consumers, gain from investments like Murray’s. The successful startups which reach the masses by rising to the top is not unique- it needs that helping hand. Who better to provide it than ludicrously rich athletes who are increasingly becoming more savvy and varied in their business investments, as Murray demonstrates.