ISIS Private Equity is the latest business to change its name so as not to be associated with the terrorist group that is most notable for its barbarism.
The London-based firm was founded in 1995 to invest in mid-market British companies, so far having done more than 100 deals. It has raised over $1.5 billion in fund capital, most recently securing $360 million for its fifth flagship fund in 2012.
But today it decided that nearly two decades of brand-building had been destroyed by the goings-on in Iraw and Syria. In a blog post, the firm wrote:
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.
It will be interesting to see if the firm chooses something generic for its new name, or if it goes for something that directly addresses the reasons for its change. A message left for the firm was not returned.
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