Shadow Foundr’s latest investment opportunity, Convert Technologies, is backed by a significant lead investor in Mel Morris, a businessman with an enviable track record and a distinguished career to date. Mr Morris has added Convert to his portfolio because he sees huge potential in a company which develops truly innovative technology for a range of high growth industries.
Mel Morris, CBE, is an English businessman, who currently owns Championship football club, Derby County F.C. He is listed as one of the richest people in the UK and gained a large part of his fortune through his backing of King Digital, the firm behind the mobile game Candy Crush Saga.
He was born and raised in the Littleover area of Derby. Out of school, he first worked as a tile and flooring manager at a company he helped to establish in Spain, before venturing into entrepreneurship.
After leaving the flooring firm, he returned to the UK to develop a dating website called uDate, which he went on to sell for £100 million. He used the money secured from the sale to invest in Prevx, an internet security firm, which was later sold to Webroot. He then helped to set up King Digital, which he chaired from 2003 onwards until stepping down in 2014. When King was sold to Activision Blizzard, Morris collected £450 million.
He bought out Derby County’s previous owner, the United States holding company American Partners, in September 2015. He first bought into the club in May 2014 for a 22% stake, shortly after the club’s 2014 Football League Championship play-off Final defeat to the Queens Park Rangers. He has been involved in a league-wide push to increase TV revenue for non-Premier League clubs.
Morris was appointed Commander of the Order of the British Empire (CBE) in the 2017 Birthday Honours for services to business and charitable services
Convert is seeking to raise £300k in the current round with Shadow Foundr, which equates to 7% of the business and the full amount is eligible for EIS. The campaign is being undertaken to fuel ambitious growth plans.
Convert Technologies’ ground-breaking licensing model, working with large established brands who have market reach to drive excellent sales numbers, is starting to reap dividends. The big brands have the distribution, sales and marketing muscle, what they don’t have is an ability to innovate and that’s where Convert comes in.
On a potentially lucrative deal with one of the world’s leading headphone manufacturers, Mel Morris recently commented: “Sennheiser is the type of client and engagement that I had in mind when I advised Convert that they now have enough proof points for their technology to now “stop making things” and instead licence their IP to other brands for them to take to market. That is how the they will maximise future shareholder value.”
With protected IP, grant money vindication, retail traction, a huge market to tap into and the potential to move into other sectors by licensing their tech, Convert is well placed to deliver a period of rapid growth.
If you would like to invest into Convert or learn more about this innovative company, please click here.