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NESTA appoints Francis Carpenter as new senior advisor for NESTA Investments

01/12/2008

"Francis Carpenter has an outstanding reputation in the field of equity funds for early-stage and small business investments. His appointment as senior advisor to NESTA Investments strengthens the role of the organisation to become a strategic, result driven investor in this space."

NESTA has today announced the appointment of Francis Carpenter, the former CEO of the European Investment Fund (EIF), as a senior advisor to NESTA Investments.

In his previous role at the EIF which he held for six years, Francis Carpenter led the European Union's specialised financial institution which managed £5bn of equity finance for funds aimed at venture capital and small to medium-sized enterprises.

As senior advisor to NESTA Investments, Francis Carpenter will provide a similar strategic direction for the organisation's investment operation. NESTA provides early stage venture capital funding for high growth potential technology companies and aims to kick-start new fund models of investment.

David Hunter, Managing Director of NESTA Investments said "Francis Carpenter has an outstanding reputation in the field of equity funds for early-stage and small business investments. His appointment as senior advisor to NESTA Investments strengthens the role of the organisation to become a strategic, result driven investor in this space."

NESTA is a leading investor in the UK early stage finance market, and has an existing portfolio of some 50 companies and investments in 5 early-stage focused funds, as well as recently being appointed the fund managers of the Kinetique Biomedical Seed Fund - a University Challenge Fund.

Francis Carpenter studied at Oxford, in New York and at the Paris Institut d'Études Politiques. He has also held the position as Secretary General of the European Investment Bank for a period of six years and was previously the Director of their Credit Risk. He also headed up EIB's loan finance business and the Department for Lending Operations in the United Kingdom, Ireland, Portugal and the North Sea.

Contacts:

For further information, please contact NESTA Media Manager: Jo Oakes - 07891048915 or jo.oakes@nesta.org.uk

Notes to editors:

NESTA

NESTA is the National Endowment for Science, Technology & the Arts. Its mission is to transform the UK's capacity for innovation. NESTA Investments has the largest portfolios of early-stage businesses in the country and is a leading authority on how to grow new ideas.

We have strict investment criteria, and work with companies that have high potential for growth, are at seed or start-up stage, and have the potential to attract syndicated support. When we do invest, we aim to maximise our investment by assigning mentors, part-time managers or specialist support.

We also stimulate imaginative solutions to pressing social issues and shape policy to help the UK meet its national innovation challenges.