Initiative X is a certified ecosystem of independent hospitality businesses with an integrated investment layer. Founding 100 is an invite-only cohort of early participants. Register your interest and we'll be in touch as the investment layer opens.
A shared operating system for independent hospitality. We certify venues, suppliers, and service providers against a 10-pillar standard; connect them through a shared membership and loyalty layer; and (post-authorisation) operate the investment vehicles that fund new sites and growth.
Read the full structural overview for detail on the methodology, vehicles, regulatory posture, and state of the build.
Post-authorisationSubject to FCA opinion and fund manager authorisation. Nothing here is an offer or recommendation.
| Vehicle | Type | Term | Indicative minimum |
|---|---|---|---|
| IXF Units | Fund equity (LP units) | 5–7 year lock | £1K (Class E) |
| IX Participation Notes | Senior bond, fixed coupon | 12–36 months | £100 (Layer 1) / £1K (Layer 2) |
| Direct Business NFT | Venue co-invest | 3–7 years | Strategic+ tier only |
| PropCo Notes | Property-backed bond | 24–60 months | £100 / £1K |
| IX Cashflow Notes | Short-duration working capital | 3–12 months | £100 / £1K |
| IX Development Convertible Notes | Pre-opening convertible | Up to 24 months | £100 / £1K |
All Business NFT valuations follow the IX Business NFT Valuation Methodology v2.0 — a stage-dependent DCF framework with:
Basic contact, investor category, vehicle preferences, consent. No KYC, no commitment, no offer.
Thibault personally reviews every Founding 100 submission. Tier classification (Seed / Growth / Strategic / Principal) assigned.
For Strategic / Principal tier, we set up a 30-minute video call. For Founding 100 cohort, you're invited to the next cohort event.
When FCA opinion returns and the fund manager is appointed, Phase 2 unlocks: KYC, appropriateness test (COBS 10A), self-certification, subscription to your preferred vehicles.
From the month after registration, you receive a monthly update with venue P&Ls, valuation changes, Founding 100 cohort movements, and regulatory progress.
About 5 minutes. This is a register of interest — no commitment, no regulated step. All submissions are personally reviewed.
Some questions worth thinking through:
None of these are required to register — they're covered in the form — but thinking through them helps.
RegulatoryCapital at risk. Investments in Business NFTs, fund units, participation notes, and convertibles are not guaranteed. Capital may be lost. Past performance is not indicative of future results.
Illiquidity. Most vehicles are illiquid and locked for the stated term. Early redemption is generally not available.
Regulatory status. Initiative X is pre-FCA authorisation. An instruction letter covering 21 regulatory questions has been submitted to counsel (IXT classification, fund manager structure, per-venue founding preference, multi-entity venue blueprint, etc.). No investment vehicle is currently offered to the public. All Phase 2 steps — subscription, KYC, appropriateness test, self-certification — activate only once authorisation is confirmed.
No advice. This page does not constitute investment advice or a financial promotion. Seek independent advice before making any investment decision.
Information sources. All methodology, vehicle terms, and risk ratings referenced are set out in: IX Ecosystem Master v6.1, IX Business NFT Valuation Methodology v2.0, IX Growth Trust Structure v2.0, IX FCA Opinion Instruction Letter v1.0, IX Risk Rating Framework v1.0, IX Token Subscription Agreement v2.0. Available on request.