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£2m investment for Monkey Bizness
Monkey Bizness, one of the UK's largest independent operators of family entertainment centres, is eyeing up future growth after it received a £2m boost from Octopus Investments.
The London-based investment company announced that it was investing the cash from its £30m Octopus Capital for Enterprise Fund, which will be used to help Monkey Bizness expand its estate within three years. Monkey Bizness operates six family entertainment centres across the UK, with sites in Lewes, East Sussex; Stevenage, Hertfordshire; Hull; Gosport, Hampshire and Sheffield; as well as Poole in Dorset. It aims to double the number of centres it operates by 2012.
Alex Cheney, Monkey Bizness co-founder, said: "We have grown the business to six sites in three years and believe we are well placed to capitalise on the embryonic and fragmented family entertainment market. "The investment and support from the Octopus Capital for Enterprise Fund comes at a crucial time and we are looking forward to working with Octopus to take the business to the next level."
Alistair Brew, director at Octopus Ventures, added: "This investment will enable the model to be rolled out more widely in the UK and present Monkey Bizness with the opportunity to become the leading player in the market."
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