Investment firm Longshot, a former owner of the Groucho Club, is returning to the leisure sector having secured £30m to acquire distressed assets.
The firm, founded by Joel Cadbury and Ollie Vigors 15 years ago, raised the money from institutional investors and is looking to invest in hotels, restaurants, pubs and health clubs with valuations of approximately £10m.
The directors intend to lead the management of acquired businesses.
Longshot has also entered into a joint venture with accountancy firm Haysmacintyre to provide consultancy services to struggling businesses in the leisure industry.
Longshot disposed of its previous investments, which included 24-hour restaurant Vingt-Quatre and health and fitness centre The Third Space, in July 2007.