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A billionaire businessman who was recently CEO of supermarket chain Asda has launched a Jersey-based investment fund aimed at backing fast-growing UK start-ups.
Mohsin Issa, alongside his partner Victoria Price, has founded Boulder Investco, which was registered in August at 13-14 The Esplanade, the home of Appleby Global Services.
One of the fund's first moves has been to take a large stake in second-hand clothing platform GoThrift, which was then followed by a £10m investment into Liverpool-based protein powder company Applied Nutrition.
Mr Issa, with his brother Zuber, are understood to be worth £5b combined. They made their fortune through EG Group, which they built from a garage in Blackburn to a nationwide chain.
In 2020, they bought Asda alongside private equity firm TDR Capital in a £6.8b deal.
Ms Price was previously an accountant at EY, which served as Asda’s auditor up until July last year. She now leads the capital division of consultants Alvarez and Marsal.
Asked about Boulder Investco by The Telegraph, she said: “These investments are aligned to my passion for working with entrepreneurial businesses in the UK.”
Mr Issa stepped down as Asda's CEO in September, coinciding with the Issa brothers reducing their shareholding in Asda.
Although Mohsin has retained his 22.5% holding, Zuber has sold his shares to TDR Capital, which now own 67.5% of the business.
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