"Melbourne’s deeply private Wilson family, which owns the $2 billion plumbing and hardware powerhouse Reece, is bankrolling a capital raising for a new sports app run by a former executive of pay-TV sports programming provider Fox Sports.
The firm, known as 20Four, is poised to launch an app where elite athletes create and share original content for sports fans online. It is in the process of raising about $2 million that will fund further growth before progressing plans for an IPO-based ASX listing later this year.
The Wilson family is backing the raising through one of its investment entities, as are other family office and high net-worth investors, plus a small-cap institutional tech investor known as Chapmans."
CHP Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held