Online entrepreneuer launches private equity venture

The financial sector report the launch of a GBP 100 million buyout fund titled Burlywood Capital by well-known internet gambling entrepreneur and Sportingbet founder Mark Blandford.

Former Gala Coral Group chief executive officer Neil Goulden and Panmure Gordon investment banker Andrew Burnett are reportedly involved in the private equity venture that will be chaired by Former Hilton Group executive Sir David Michels.

The fund which will invest in a wide range of pay-to-play entertainment that includes online poker and social gaming, is said to be launching an initial GBP 50 million fund raising towards the end of August.

Blandford recently acquired a substantial interest in the Win United group earlier this year.