Specialist digital publishing group Green Star Media has secured a significant venture capital investment to support its growth strategy to acquire special interest magazines and websites.
Chrysalis VCT, a leading venture capital trust, has taken an equity stake and provided loan finance, and will take a seat on the Green Star Media board.
Andrew Griffiths, managing director of Green Star Media, said: “We’re delighted to get the backing of one of the leading VCTs for our strategy and excited about the potential to apply our successful digital strategy to other media assets.”
Robert Wilson, investment director at Chrysalis VCT, said: “We’ve been impressed with the company’s cash generative subscription membership model and their plans to apply their skills more widely. We look forward to supporting the management team to achieve their goals.”
Green Star Media, where Blackwell’s chairman Trevor Goul-Wheeker recently became chairman, serves sports coaches in soccer, basketball and rugby in more than 80 countries with subscription content for coaching and training drills.
The company is developing a range of digital sports products, and targeting specialist websites and magazines in sport and related areas.