20/01/2010
'Mike and Matthew bring exceptional expertise and experience to NESTA Investments. Alongside an impressive Investment Committee and executive team, this partnership paves the way for NESTA to build on an exciting portfolio of early stage high tech investments'.
The National Endowment for Science, Technology and the Arts (NESTA) today announces a major new partnership in the UK's early stage technology field: Dr Mike Lynch has been appointed as Chair of NESTA's Investment Committee and Matthew Mead has been appointed as Managing Director of NESTA Investments.
Mike Lynch is the founder of Autonomy, the UK's largest software company by market capitalization ($6bn) and the fastest growing FTSE 100 Company. Mike started his career as a Cambridge academic before becoming one of the UK's most pioneering technology entrepreneurs. He brings vast experience of building successful technology companies, and a knowledge of the venture capital industry to the role.
Matthew Mead was a Partner at 3i's Venture Capital business. With 14 years' experience investing in UK and international early stage ventures, he worked across all technology sectors, specialising in ICT. He held numerous Board positions as he led companies through high growth, turnaround, exit and acquisitions and recently led the secondary market disposal of 3i's Venture portfolio of assets in both the US and Europe.
Jonathan Kestenbaum, Chief Executive of NESTA, says: 'Mike and Matthew bring exceptional expertise and experience to NESTA Investments. Alongside an impressive Investment Committee and executive team, this partnership paves the way for NESTA to build on an exciting portfolio of early stage high tech investments'.
'In the UK we have a wealth of innovative and creative talent,' said Mike Lynch. 'I am pleased to be a part of NESTA's mission to make that talent have the impact it deserves.'
Matthew Mead, Managing Director of NESTA Investments says: 'I believe that supporting early stage start-ups is more vital now than at any other time in my career. At NESTA we are investing in the UK's most promising early stage businesses at a time when other funds have run dry'.
NESTA is one of the UK's largest early-stage investors with over 50 high-tech start-ups in its portfolio ranging from ICT to healthcare and green technology. NESTA Investments is a compelling demonstration of how a blend of private and public capital can drive world-beating, innovative UK companies.
These appointments come amid unprecedented challenges in the UK Venture Capital industry where fundraising has significantly fallen and investors are increasingly looking to later stage, safer investments. NESTA was behind the calls for the Government to do more to attract private sector finance into early stage venture capital which led to the establishment of the Innovation Investment Fund.
For further information, please contact:
Jan Singleton 020 7438 2606 jan.singleton@nesta.org.uk or Chani Hirsch 020 7438 2601 chani.hirsch@nesta.org.uk
About NESTA
NESTA is the largest independent endowment in the UK. Its mission is to support innovation to drive economic recovery and solve some of the UK's major social challenges.
NESTA is a world leader in its field and is in a unique position to support innovation through a blend of practical programmes, policy and research and investment in early-stage companies.
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