Maven Leisure closes £4.3m fundraise, secures City of London rooftop site: Maven Leisure, the new venture from ETM Group co-founder Ed Martin, chief financial officer Landen Prescott Brann and non-executive chairman Graham Turner, has closed a £4.3m fundraise, as it looks to open at least seven premium bars in central London. The fundraise with private equity investment firm Growthdeck was structured as £2.3m in EIS-qualifying equity and £2m in mezzanine debt. It will be used to take advantage of “very favourable conditions for acquiring prime landmark London sites”. The new venture will be anchored by a landmark rooftop site in King William Street in the City of London, on the former House of Fraser department store. It will feature an all-day, premium, indoor bar and restaurant space, with terraces heated and lit for year-round use and 360-degree views of the London skyline. Additional sites will be added in the next 12 to 24 months. The business is thought to be planning to open a second and third site in 2022 and add another four venues by February 2024. Maven aims to utilise three operating models for its estate of bars and restaurants, all of which have previously been proven by the founders. The first is rooftop bar concept comprising an all-day premium indoor bar and restaurant space combined with external terraces providing city views. Menus for the rooftop bars will provide all-day dining in the form of small plates, which convert to larger events menus for corporate parties. The second format is a brew and sports pub with an in-house brewery delivering unpasteurised, fresh beer direct to the pumps combined with the screening of major sports events. The third model is a premium sports bar with a full drinks menu including beer, cider, spirits and cocktails with food focused on classic sports menu dishes cooked to order. ETM Group currently operates 13 premium bars, pubs and restaurants in central London, including the rooftop bar Aviary, The Botanist Sloane Square and premium sports bars Greenwood and Redwood. The team has grown ETM Group from a single site to a business turning over circa £35m with no external equity funding and looks to use this expertise to grow Maven Leisure in a similar way. Ed Martin, chief executive of Maven Leisure, said: “Hats off to the Growthdeck team in helping Maven raise £4.3m in seven days. It demonstrates the resilience of the wet-led central London market in the eyes of our new investors and is testament to the offer and the strength of the team at Maven.” Gary Robins, head of business development at Growthdeck, said: “We are thrilled to be supporting Maven Leisure at it looks to grow and take advantage of the business landscape in the London bar and hospitality sector. Backing the Maven management team presents a brilliant opportunity in London’s premium bar market – it has already built ETM Group to 13 high-profile central London venues. This raise allows them to take advantage of highly attractive rents on prime London leisure space and build another successful business on a proven model.”