Isis Equity Partners changes name to avoid association with terror group

Screengrab taken from YouTube of a video showing Islamist fighters, who claim to be British, appearing in a recruitment video for the terrorist group Islamic State in Iraq and the Levant (Isis)

The London-based firm has invested in well-known retailers including Bonmarche, Crew Clothing, Fat Face and Wiggle.

Isis had £1.3bn of funds under management at the end of the last financial year.

It shares its name with the Islamic State, a group that claims to have established a caliphate in Syria and northern Iraq.

The organisation has been condemned for the on-camera beheadings of Western journalists and aid workers.

Wol Kolade, managing partner at Isis Equity Partners, said in an email to contacts: “Given ongoing events in Syria and Iraq, it will come as no surprise to you to learn that we have decided to change our name.

“We are no longer prepared to share it with a terrorist organisation.

“We will hopefully be in a position to unveil our new brand in the coming weeks, however it is very much business as usual as far as we are concerned.

“Even though the name above the door will change, we remain focused and committed to invest in and support high growth UK companies run by entrepreneurial management teams.

“If you have any questions, please do not hesitate to contact me or a member of the team.”

The firm typically invests in businesses valued at between £5m and £100m. It is represented in Yorkshire by Xavier Woodward.