BBH Global, a UK-based advertising agency, has set up a corporate venturing fund with venture capital firm Spark Ventures.

The Black Sheep fund is trying to raise £10m ($16m) over the next three months.

Adam Arnold, Partner at BBH, said: "The Black Sheep Fund is a venture between Zag (BBH’s brand invention business) and Spark Ventures.

"The background is increasingly obvious: there is a dearth of seed funds for start-ups. The thing we spotted was that the next big digital…

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