The company will use the £1m raised through Crowdcube, a website that enable the general public to invest in UK-based business, to develop the venue in Soho.
The Rushmore Group, which also operates Milk & Honey in Soho, has been looking to open a new member’s club after its East Room site in Shoreditch closed after a fire.
The new Century, which is set to relaunch in March, will feature a dedicated dining room on its third floor, a lounge that will be a bigger version of that found in the East Room and a second floor that will be a 'bigger brother to the Red Room' found in Milk & Honey.
Downey, who recently closed his Tiny Robot restaurant and bar in Farringdon, currently operates the restaurant and bar Giant Robot in Clerkenwell, the Redhook restaurant in Farringdon, and the Danger of Death bar on Brick Lane.
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