The Company and Our Investment
In March 2010 Octopus Ventures made an investment of £1.3m from its £30m Octopus Capital for Enterprise Fund (OCfE) into Gymbox, a highly distinctive London based health club business. The deal with Gymbox represents the tenth deal Octopus has completed this year, heralding a clear resurgence in venture funding.
The £1.3m investment will be used to finance additional new Gymbox sites, initially within London but with an eye on expanding across the UK. Gymbox currently operates gyms in three locations in London: Holborn, Covent Garden and Bank.
Gymbox is a chain which combines a high spec gym offering with a funky, irreverent and fun attitude.
"We are very impressed with Gymbox. Its management team, led by Richard Hilton, clearly demonstrate a strong vision and drive for growth, with one of the most interesting brands we've encountered. We have every confidence Gymbox will deliver on its growth strategy going forward, and we look forward to working with them."
Chris Allner, Managing Director, Octopus Ventures
