An investment bank that focuses exclusively on businesses and funds delivering positive social, ethical and / or environmental impact alongside financial returns has made a £1.1m investment to help accelerate the growth of Latimer Group, the youth co-creation agency.
Latimer intend to use the funds to grow the market-leading businesses, bring in new senior hires and develop their technology platform Bulbshare.
Latimer helps brands and organisations partner with young influencers and audiences creating collaborative content “that puts consumers at the heart of the creative process”.
Past clients include the BBC, The British Council and the Nike Foundation – successful campaigns include G-Shock (see video below) which involved popular grime act and MOBO award winner Stormzy performing alongside the hottest upcoming youth music talent that was also live-streamed although 1,000 people also attended the event in person.
Latimer say they provide ongoing support throughout the creative process from research to distribution, working alongside specially selected communities who are encouraged to share the campaign’s output.
Campaigns are split between social issues such as homelessness, knife crime and child marriage and “more traditional branding and market positioning”.
Figures from the Office of National Statistics suggest that 13.6% of 16-24 year olds in the UK are currently unemployed and that the value of the unused digital skills of this group could be worth as much as £6.7 billion pounds.
Latimer say that their “co-creation process empowers young people to become active citizens and provides new opportunities for them to enter the media industry”.
Latimer was founded in 2010 and has already created more than 200 job opportunities for its youth network, and through its partnerships with global brands and NGOs it has “co-created with over 50,000 young people in 31 countries worldwide. The company says that both sides value the transactional nature of the relationship.
Matt Hay, Latimer’s founder said of the fundraising; “the team at ClearlySo supported us effectively throughout the whole process. The funding we secured is testament to our methodology of co-creation and highlights how having a genuine social goal as part of your business objectives is becoming not only popular but critical given the vulnerable world we now live in.”
Investment manager at ClearlySo Mike Mompi commented “The Latimer team are stellar – they continue to be pioneers in the co-creation space as they define new and impactful ways of creating and distributing the most relevant content on behalf of their clients. They have executed consistently and this investment will help them take the business to another level.”
ClearlySo were founded in 2008 and have raised more than £100m on behalf of more than 100 clients by leveraging a network of individual and institutional investors. Latimer are based in London Bridge. The comapny are backed by an impressive network of board members and supporters including Dan’L Hewitt, the managing Director of Maker Studios, Raf Goovaerts of Impact UK, Priscilla Baffour, Head of Talent at Channel 4 and ex-CEO of Fabric technologies and Techstars mentor Misha Gopaul