Secret Cinema backer Active Partners raises £100m for more trend-setters

A venture capital firm behind a string of hip brands like Secret Cinema, Chick ‘n’ Sours, Honest Burger and Soho House has raised £100 million to back the next wave of start-ups.

Active Partners, co-founded by former BBC chairman Gavyn Davies and investor Spencer Skinner, has raised its third fund from a string of entrepreneurs, family offices and large institutions.

The company, founded in 2004, ploughs money into entrepreneur-led companies popular with people aged between 16 to 40, known as Millennials and Generation Z.

Managing partner Skinner said the company was looking to invest in companies with “an extraordinary level of consumer excitement”. London is central to its plans.

“If you are delighting customers in London it’s a sign you can attract customers in LA and Shanghai,” he said. Active raised two previous funds bagging £30 million in 2015 and £40 million in 2016. It has previously backed cycling brand Rapha, Leon and restaurant Caravan.

Skinner, who is also chairman of Secret Cinema and Honest Burgers, said: “Consumers are favouring smaller brands. We are always looking for challenger brands.”

Active has three partners and 10 investment professionals and is based in Chelsea.