The black vodka Blavod is to raise £4m thanks to a flotation on AIM that values the company at £14m. Blavod, which is part-owned by Baron Eric de Rothschild, will use the money to boost marketing of the brand which already sells 30,000 cases a year. Blavod, which has become something of a cult drink among clubbers, uses an Indian herb which does not change the vodka's taste to colour the drink black. The concept was invented by marketing director Mark Dorman and chief executive Richard Ambler, a former Diageo executive.