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Business Bakery Set Up By 42 Below Founders

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, Sept 25 NZPA - Grant Baker, Geoff Ross and Stephen Sinclair, the founders of vodka company 42 Below, want to raise $8.5 million from friends for an investment company called Business Bakery LP.

The business is a limited partnership which will raise money from "eligible investor friends" and previous 42 Below investors.

Since exiting 42 Below through the a sale to Bacardi, the trio have invested in mobile marketing company The Hyperfactory and Australian fragrance and candle business Ecoya.

The model is similar to that used by private equity investment companies except that the three plan to take active roles. No funds are being sought or accepted from members of the public. The group is being advised by Chapman Tripp.

The funds raised from eligible investors will initially be invested in growing the existing businesses the three are already working on.

Mr Baker said the group did not believe the current economic climate would play a major impact on the business.

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