SILICON VALLEY GROWTH SYNDICATE ANNOUNCES INVESTMENT IN BORROWMYDOGGY
LONDON: The Silicon Valley Growth Syndicate (SVG), a limited partnership investing in early stage, tech-enabled companies is pleased to announce its first cross-border investment in British startup, BorrowMyDoggy. (www.borrowmydoggy.com)
This London-based company allows local dog lovers to borrow and care for other people’s dogs by organizing walks, play-dates, weekends and holidays. BorrowMyDoggy has attracted over 10,000 members by placing small signs in and around U.K. dog parks. This young “puppy” is growing quickly. Total billing grew ten fold between fall 2013 and spring 2014.
BorrowMyDoggy describes itself as a company of passion. As Co-Founder Rikke Rosenlund said, “People have great passion around their dogs. People in transitions in life yearn for companionship when things occur such as divorce, medical recovery, cancer, loss of a loved one. Etc. And, the dog owners would prefer to have their dog with a nice person or loving family when they travel, instead of in a kennel.”
Mr. Bunker and Mr. McNutt, key players on the SVG team, uncovered BorrowMyDoggy during an October trip to London. Bunker quickly grasped this powerful start-up business model was very similar to dating. When a cute dog’s picture is either emailed to BorrowMyDoggy members, or posted on Instagram for prospective clients, it creates an emotional attraction. The project was given the green light after Dr. Rebecca Homkes, SVG Mentor Board Member and London Business School Strategy Professor, examined the strengths and weaknesses in both concept and management.
A native of Denmark, Ms. Rikke Rosenlund explained, “Our goal is to create a community where people can make a positive difference and to leave ‘Pawprints of Happiness’ on the lives of people and dogs.”
Lee McNutt, SVG Co-Founder said, “We are blessed to have investors and investments in Great Britain. The two go hand in hand. We don’t want limited partners in our fund, we want active investors who will help us uncover quality opportunities like BorrowMyDoggy. ”
For 2014, BorrowMyDoggy anticipates launching its first Mobile App, adding PayPal as a payment option, and raising another round of financing at a value much higher than SVG’s initial investment. “Unlike other early stage funds, we have the proven ability to act as brand stretchers, helping our companies expand across countries and cultures,” said Co-Founder Russell Lewis. Mr. Lewis notes that fellow partner Lee McNutt has organized and led more than 50 United States Trade Missions all over of the globe.
SVGS is an investor partnership providing early-stage capital to entrepreneurs with complete products, and revenue derived from the market place. Investments are focused in the areas of expertise that include: Consumer E Commerce, SaaS enterprise, mobile, social, transactions / commerce business, subscription models, niche markets, lead generation business, dating, business to business solutions, and cross-border opportunities.
For additional information about this topic, please telephone Lee W. McNutt at (214) 537-9311 or email Will Bunker at email@example.com