Galileo Launches World’s First Investment Firm Targeting Gay Businesses

Galileo Capital Management has launched LGBT Capital, a corporate advisory and investment management company focused on serving gay business concepts.  While the financial services sector has made great strides in targeting gay consumers, LGBT Capital is revolutionary in that it is the first company designed to provide corporate strategy and business development services to entities that cater to the gay and lesbian consumer segment.  Additionally, the firm hopes to launch an investment fund for companies providing products and services to the GLBT community.  LGBT Capital is based in London and Hong Kong, but will provide services and invest globally with a particular focus on the emerging Asian market.

In researching the feasibility of a gay-targeted investment firm, LGBT Capital found 30 percent of all GLBT businesses seeking financial advisory services felt a need to maintain a degree of secrecy when seeking financial support.  Furthermore, of the companies surveyed, all reported they would like to expand outside of their business sectors or geographic areas, but 80 percent lacked a source for specialist advice on how to secure funding.

“For many years we’ve felt that the LGBT consumer segment is a huge developing market, but nobody focuses on it,” says Paul Thompson, co-founder of LGBT Capital.  “As well as helping companies to raise finance, we are talking to businesses that want to expand in non-organic ways by acquiring or merging.  Because we know the companies we can bring them together.  We expect there to be a significant increase in LGBT-oriented companies in the developing markets, coupled with greater openness within the developed markets.”

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