Five marketing services entrepreneurs have launched a consulting and investment company called Mentor Marketing & Investment (MMI).
MMI will act as a venture capitalist for small agencies, mainly focusing on below-the-line companies.
Former Clarke Hooper group managing director John Hooper will act as chairman of the group. Clive Mishon, the former president of Marketing Drive, will be the venture’s chief executive.
The board will also include founder of KLP Colin Lloyd, former chief executive of FCA! Chris Parry, and Mark Sheard, a founding partner of Stretch the Horizon.
Mishon says that MMI will not aim for a controlling share in any agency, but one of the five founders will sit on the board of any company in which Mentor invests.
Mishon says any forthcoming recession could boost smaller agencies, as they can grow with lower overheads, while big agencies tighten their belts and try to cut overheads.
He adds: “MMI is already in discussions with several groups of people who are looking to start their own companies, plus a number of other businesses that are trying to speed up their growth.”
MMI, which plans to float within the next two years, will listen to offers from investors wishing to partner or join the company.