Former WPP boss secures £100m funding for new venture

Sir Martin Sorrell has raised £100m funding from City investors for new venture S4 Capital

 Just a month ago, we got the news that WPP’s ex-chief executive, Martin Sorrell was making his comeback with Derriston Capital. The company will be renamed S4 Capital, a new entity established by Sir Martin for the purpose of his return to the public market. It is understood to refer to four generations of Sir Martin’s family.
Now, 73-year old Martin has successfully raised 100million Euros for his new advertising venture.

However, it is interesting to note that Martin is the sum is less than the £150 million of non-binding equity funding from institutional investors announced in May for S4 Capital, his new vehicle. Although, a further £50 million of debt funding has been secured to contribute to Sir Martin’s plan to aim for deals with companies focused on technology, data and content.

Martin has stated that he would invest £40 million of his own money into Derriston Capital and he will be taking 75% control of Derriston Capital, taking the post of executive chairman, with the aim of building a next-generation WPP for the digital age.
Martin resigned as boss of WPP in April after it was revealed that the board was investigating him over allegations about his “personal misconduct”.

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