What fun

The Guardian’s venture capital arm has invested in a UK start-up alongside Sir Len Blavatnik, Britain’s richest man, despite repeatedly criticising the billionaire in print.

GMG Ventures, which invests money on behalf of the Scott Trust, the owner of the Guardian, has joined a a $16.5m (£12.1m) fundraising round by Vidsy, a video advertising technology company. Sir Len’s business Access Entertainment was another investor.

That clash between cash and moral stances, eh?

10 thoughts on “What fun”

  1. Two people/companies both invested in the same company, therefore they are associated? That’s one heck of a tenuous link. Did they even know who the other investors were?

  2. Andrew M

    Yeah, it’s unreasonable to claim a link.

    More interestingly, it shows that the investment arm of the Scott Trust applies very similar rules in deciding where to invest as the evil loathsome tool of the oppressive patriarchy Sir Len (who he?), and so **should** be tarring themselves with the same brush.

  3. Presumable the wealth correspondent of the Graun, Rupert Neate, will now start churning out badly researched exposés of GMG ?

  4. Sure it is a tenuous link, but the Scott Trust only exists to fund the Graun, should it not maintain the newspaper’s standards?

    The Graun would come down heavily on anyone investing alongside someone like Blavatnik, especially if it was a group (eg the Church Commissioners) meant to invest ethically.

  5. “the Scott Trust, the owner of the Guardian”: oh no it fucking isn’t. The Guardian is owned by the Scott Trust Limited. Capitalist running dogs.

  6. Vidsy sounds like a big fat nothing. Looks like it’s heavy on the humans and not much tech. So, ad agency that commissions work from people, takes a slice of the work, makes sure people get paid.

    Looking at his Wikipedia page, it seems like he did very well from oil, but not much good since. Investing in subprime in 2006? Buying a music company? Funding a Scorsese passion project?

  7. It makes sense. It produces filthy rich capitalists in the future which the Guardian can then condemn. A sort of future grievance stream.

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