10 June 2019
Funds advised by YFM Equity Partners (“YFM”), the specialist private equity fund manager, have backed a £3.6m investment into Wooshii Limited (“Wooshii”), a disruptive video agency. YFM’s investment comes from its two advised VCTs, British Smaller Companies VCT plc and British Smaller Companies VCT2 plc.
Wooshii, founded and led by Fergus Dyer-Smith, was built to capitalise on the increasing demand for fast-turnaround digital content, offering clients the convenience and quality of a traditional video marketing agency paired with a decentralised, global creative network. The result is the ability to provide clients with a video content solution that scales with their needs, with feet on the ground across the globe, making localised video content production faster and more affordable.
Growth in recent years has been impressive, and today Wooshii works with a number of blue chip corporate clients including Coca-Cola, Microsoft and Booking.com.
YFM’s investment will be used to support the continued growth of the business, with Wooshii planning to strengthen its team in the UK, the US and across Europe. These newly created roles will enable the business to further expand its international footprint and client base, and to further develop its technology platform.
Colin Granger and Adam Hart led the investment for YFM. Colin Granger will join the board of Wooshii at completion and commented:
“Wooshii have successfully built a decentralised video production model that solves the key issues facing corporates today with a growing demand for content across a global market. We’ve been hugely impressed with management’s vision and the quality creative network and technology platform that the business has created. Having a solid platform, international reach with the opportunity to scale, it’s the type of early-stage, high growth business we look to support, and we’re excited to be part of the Wooshii journey as it continues to gather momentum.”
Fergus Dyer-Smith, founder and CEO of Wooshii, added:
“It’s a really exciting time for Wooshii, and the funding from YFM will allow the business to capitalise on the huge opportunity that lies ahead. We selected YFM as a partner given their knowledge of our market as well as having supported numerous businesses like Wooshii through this planned phase of growth. We have built a great relationship with Colin and Adam during the process and have enjoyed their straight-forward and pragmatic approach. We’re delighted to have YFM join the team.”
YFM’s legal advice was provided by Chris Reed and Poppy Wilkinson at Gateley Plc, Commercial Due Diligence by Geoff Rampton and Suzy Urch of RPL Ltd, Financial Due Diligence by Robert Ledger, Organisational Review by Anna Cornwallis of Stratton HR and IT Due Diligence by John Dowell of Turous.
Dane Phillips of NOR Capital acted as financial advisor to Wooshii with Sam Mabon of Brabners providing legal advice.