People Moves

UK Private Investor Network Adds Three Business Luminaries As Non-Execs

Tom Burroughes, Group Editor, London, 21 October 2014

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Envestors, the UK private investor network, has appointed three business luminaries as non-executive board members and announced plans for a secure technology platform to increase investors’ participation in backing growth businesses.

Envestors, the UK private investor network, has appointed three business luminaries as non-executive board members and announced plans for a secure technology platform to increase investors’ participation in backing growth businesses.

Kevin Lomax, creator and leader of software group Misys – now a FTSE100-quoted company, becomes chairman of Envestors. Also joining as non-executive directors are Penny Avis, a former Deloitte corporate finance partner and Julian Box, founder and CEO of Calligo, a provider of cloud-based enterprise data security solutions.

Envestors is a network for companies that seek between £500,000 ($806,460) and £10 million of equity funding. It is based in London with offices in Yorkshire in the north of England; Jersey, Monaco and Dubai. Since 2004, Envestors has helped UK companies raise more than £78 million. To some degree, the ascent of organisations such as Envestors can be seen as part of a wider trend of non-bank funding for firms at a time when traditional bank lending has been squeezed by tighter capital rules and a more risk-averse business climate.

“We have seen a huge increase in activity from sophisticated investors looking to invest in high growth companies. The economy’s emergence from recession, lower returns from public asset classes and increased tax-based incentives such as the Enterprise Investment Scheme are fuelling this demand,” Oliver Woolley, CEO of Envestors, said. (The EIS structure is an investment vehicle aimed at startups and small firms, and carries income tax and capital gains tax reliefs, among others.)

All three of the appointed non-executive directors have invested personally in Envestors, it said.

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