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Thursday, 16 November 2017

Gate Ventures PLC: Investment in Rise Art Ltd.

Gate Ventures Plc    

Published: 15:17 CET 16-11-2017 /GlobeNewswire /Source: Gate Ventures Plc / : GATE /ISIN: GB00BYX2WP92

Gate Ventures PLC: Investment in Rise Art Ltd.

Gate Ventures PLC

Investment in Rise Art Ltd.

ISIN Number: GB00BYX2WP92

TICKER: GATE

 

Press Release

Thursday 16 November 2017


Gate Ventures PLC

("Gate Ventures" or "Gate" or the "Company")

  

Investment in Rise Art Ltd.


The Directors of Gate Ventures PLC are pleased to announce that the Company has committed to make a £1,293,250 investment in Rise Art Ltd. ("Rise Art") which will acquire a 15% stake.

 

Rise Art is the online e-commerce marketplace for contemporary art, hand-picked by experts. They are leading the art-tech revolution, helping consumers find and own original works of art from professional artists with their online marketplace and unique try before you buy art rentals. Founded in 2011 by Scott Phillips and Marcos Steverlynck, and based in London, the company now works directly with over 500 artists, has more than 50,000 art works on offer and ships art to 35 countries worldwide. 

 

Rise Art was introduced to us by Areteos, Gate's Chairman's family office. As part of the £1.3m investment, £593k was purchased directly from Areteos on the same terms as the direct investment. The investment was voted and passed by the Board of Gate Ventures, the Chairman abstained on this vote.

 

»We see immense potential in the disruption of the art sector and consider Rise Art a potential game changer. Thus Gate Ventures are looking forward to work with Rise Art management to make lasting improvements to their market offering and value proposition - and to help open up new markets«, said Gate Ventures Chairman Dr. Johnny Hon.

 

»Rise Art is really pleased to welcome Dr Hon and Gate Ventures as an investor in our most recent funding round. Gate brings with them a deep knowledge of both the art market and e-commerce, and will be especially helpful as we build out our business in Asia, said Scott Phillips, Founder & CEO of Rise Art.

 

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Further Enquiries:

Gate Ventures PLC (The Company): assistance@gateplc.com // +44 (0) 20 3150 2477

Keswick Global AG (Certified Adviser): info@keswickglobal.com // +43 1 740 408045

Rossen & Company ApS (Financial PR): nic@rossen.com // +45 2072 9972

Notes to Editors:

Gate Ventures was founded in 2015 to make investments and capitalise on investment opportunities in the media and entertainment sectors. The Company focuses primarily on investments and operational opportunities in the UK and China covering theatre, television, media technology and e-commerce. 

The Company's investments include various theatre productions such as the successful Sunset Boulevard and 42nd Street (which is currently showing in London), virtual reality ("VR"), and technology companies Bink and PlayJam amongst many others. Gate Ventures has made a total of ten investments since it was established, and to date, has successfully raised over EUR24 million reflecting the Company's significant growth thus far. 

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This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Gate Ventures PLC, 5th Floor, 17 Old Park Lane, London W1K 1QT, United Kingdom
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