Asda co-owner Mohsin Issa and his partner Victoria Price have launched a private investment fund aimed at backing fast-growing UK start-ups.
The pair have established Boulder Investco, an offshore investment vehicle based in Jersey, and have taken a significant stake in Manchester-based second-hand clothing website GoThrift, alongside a £10m investment in Liverpool-based protein powder firm Applied Nutrition, which made its stock market debut late last month.
Issa, who stepped down as the supermarket’s CEO in September, has previously made big investments alongside brother Zuber, with forecourt giant EG Group and sportswear brand Castore among their previous bets. However, his sibling is not a shareholder in Boulder.
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The Issa brothers, who are understood to be worth £5bn combined, 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 in a £6.8bn deal.
Price was previously an accountant at EY, which served as Asda’s auditor up until July last year. She now leads Alvarez and Marsal’s private capital division.
On Boulder, Price told The Telegraph: “These investments are aligned to my passion for working with entrepreneurial businesses in the UK.”
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