Investing in innovation
Agenda:
| Time | Item |
|---|---|
| 13.00 – 14.00 | Arrival & networking with buffet lunch |
| 14.00 – 14.01 | Welcome and housekeeping Hazel Moore, Non-Executive Director, British Patient Capital |
| 14.01 – 14.05 | Welcome remarks Catherine Lewis La Torre, CEO, British Patient Capital |
| 14.05 – 14.20 | British Patient Capital activity report Judith Hartley, Outgoing CEO, British Patient Capital |
| 14.20 – 14.50 | Keynote speaker Pippa Malmgren, economist, author, geopolitics and tech expert |
| 14.50 – 15.30 | Panel: Investing through the cycle – lessons from history
|
| 15.30 – 16.00 | Break |
| 16.00 – 16.20 | UK VC Financial Returns report presentation Matt Adey, Director & Senior Economist, British Business Bank |
| 16.20 – 17.00 | Panel: Where venture growth and innovation can sit in an institutional investor’s asset allocation strategy
|
| 17.00 – 17.05 | Closing remarks Hazel Moore, Non-Executive Director, British Patient Capital |
| 17.05 – 19.00 | Networking reception |
Speaker’s biographies
Hazel Moore OBE
Non-Executive Director, British Patient Capital
Hazel joined British Patient Capital as an independent Non-executive Director in June 2019.
Hazel is the co-founder and Chair of FirstCapital, an investment bank which provides mergers and acquisitions, private equity and growth capital advice to high-growth technology companies. She also currently chairs the Innovation Finance Sub-Committee for Innovate UK, the UK’s national innovation agency, having been a Governing Board member of Innovate UK until 2018. Hazel is a member of the Future Fifty advisory panel and was previously on the Investment Advisory Panel of the North West Fund.
Hazel was awarded an OBE in the 2017 New Years’ Honours list for services to entrepreneurship and innovation. She won the CBI/Real Business First Women in Finance award in 2016 and the Women in Private Equity Award for Best Corporate Finance Adviser in 2015.
Catherine Lewis La Torre
CEO, British Patient Capital
Catherine was appointed CEO of British Patient Capital (BPC) in October 2022, having led the British Business Bank as interim CEO since September 2020. Catherine joined the Bank in 2016 to lead the commercial arm, first as CEO of British Business Investments (BBI) and, from October 2018, as CEO of both BBI and BPC.
Prior to 2016, she was Head of Private Equity for Cardano Risk Management, managing a global portfolio of private capital investments on behalf of UK pension funds. She was previously a Partner and Managing Director of Paris-based European private equity firm, Fondinvest Capital, and before that a founding partner of Nordic Private Equity funds manager, Proventure. Catherine also established a consultancy business advising sovereign wealth funds and institutional investors in Asia, the Middle East and the US on their European private capital strategies.
Catherine is a member of the Rose Review Board.
Judith Hartley
Outgoing CEO, British Patient Capital, and CEO, British Business Investments
Judith is Chief Executive Officer of British Business Investments, which is a commercial subsidiary within the British Business Bank group. She took up the role on 1st October 2022, having previously been Interim CEO of British Business Investments and the other commercial subsidiary in the group, British Patient Capital, since September 2020.
Judith built a career in corporate banking with Barclays and Bank of Scotland before becoming involved in the delivery of publicly funded access to finance products. Judith was previously the British Business Bank’s Managing Director, Lending Solutions, where she was responsible for the delivery of several the Bank’s debt-based products. She also set up the Bank’s UK Network, a team that is physically located within each of the English regions and the three Devolved Nations.
Dr Pippa Malmgren
Former US Presidential Advisor / Former Advisor to the UK Cabinet /
Best-Selling, Award-Winning Author / Tech Entrepreneur
The Hon. Dr. Malmgren is an economist who makes sense of the world economy by writing books, by founding tech businesses, by advising policymakers around the world and through public speaking and teaching. She is a Senior Advisor to The Monaco Foundry, a start-up incubator for impact-led founders, and a Special Advisor to Avonhurst, a legal and consulting firm in the UK specializing in deals, policy and capital raising. She is also on the Board of Premios Verdes which holds the “Green Oscars” each year. She writes a column about the world economy on Substack. She previously co-founded an industrial drone manufacturing firm which won the Cog X Award for Autonomy, the 2020 National Technology Award and Power Product of the Year 2020.
Her most recent bestseller, The Infinite Leader, won the International Press Award for the Best Book on Leadership for 2021. Her previous book, The Leadership Lab, was named Business Book of the Year and Best Book on Leadership in 2019 and won the International Press Award 2020 and the NYC Library Big Apple Award.
Matt Adey
Director & Senior Economist, British Business Bank
Matt Adey is Director of Economics at the British Business Bank. His responsibilities include leading a team of economists producing publication quality research on small business finance markets, delivering economic support for Bank product development and evaluation of British Business Bank activities.
His previous experience includes roles at the Bank of England, the UK Financial Services Authority, the European Bank for Reconstruction and Development and the UK government Department of Business, Innovation and Skills.
Panellists
Panel 1: Investing through the cycle – lessons from history
Kerry Baldwin
Managing Partner, IQ Capital
Kerry Baldwin co-founded IQ Capital in 2006 and has over 20 years deeptech venture capital experience. Kerry was Chair of the British Private Equity and Venture Capital Association 2021/22 and is an international advisor and speaker on venture capital, deeptech ecosystems, research and innovation. Originally with BDO Stoy Hayward, she joined Venture Technologies in 1998, investing in the first wave of UK deeptech companies and has focussed on deeptech early-stage technology over her five funds which invest from seed to £30m.
She is known as a contributor to best practice in venture capital, from ESG and a 2018 in-depth study on Investment Committee best practice and decision making across Private Equity and Venture Capital. She is an honorary Fellow in Entrepreneurship at the University of Cambridge (Judge Business School).
Anne Glover CBE, HonFRAEng, FRSE
CEO and Co-Founder, Amadeus Capital Partners
Anne co-founded Amadeus in 1997 with Hermann Hauser. Building on her scientific training and operating experience, Anne has been a venture capitalist for over 30 years and has been investing in emerging markets for 15 years.
A former Chairman of the British Private Equity and Venture Capital Association and Invest Europe, Anne was appointed Non-Executive Director of the Court of the Bank of England in 2018 and in 2019 became a member of the Investment Committee of Yale Corporation, which is responsible for oversight of the Yale University Endowment. In 2021, Anne was appointed as an external member of the Venture Capital Investment Committee of British International Investment, the UK’s development finance institution.
She was awarded a CBE in 2006 for services to business, is an Honorary Fellow of the Royal Academy of Engineering and became a Fellow of the Royal Society of Edinburgh in 2021.
Bernard Liautaud
Managing Partner, Balderton
Bernard joined Balderton as a Partner in 2008. He was named Managing Partner in 2016.
Bernard Liautaud founded Business Objects in 1990 and was CEO for 15 years then Chairman until January 2008. With 6,700 employees, 45,000 customers and $1.5 billion of revenue in 2007, Business Objects was the world leader in Business Intelligence and one of the 15 largest software companies in the world. Business Objects was the first European software IPO on Nasdaq in 1994.
In January 2008, Business Objects was acquired by SAP for $6.8 billion, making it the third largest software acquisition at the time. Bernard is now a member of the Supervisory Board of SAP.
He has received a number of distinctions including “Chevalier de la Légion d’Honneur” in 2007 in France, Time Magazine Europe’s Digital Top 25 and BusinessWeek Stars of Europe of 2002, Top 10 CEOs in North America by Chief Executive Magazine in 2001.
Shahzad Malik
General Partner, Advent Life Sciences
Shahzad joined Advent in 1999 with a strong background in science, clinical medicine, and international finance.
He gained an MA in Physiological Sciences from Oxford University and an MD from Cambridge University, after which he specialised in interventional cardiology while also pursuing clinical and fundamental scientific research in heart muscle disorders
Since joining Advent, Shahzad has been actively involved in over 30 portfolio companies in Europe and the USA in all sectors of Life Sciences, including Algeta, Respivert, Biocartis and Axonics Modulation Technologies.
Shahzad currently serves on the Board of several portfolio Companies, including Orphalan, Mirobio and AviadoBio.
Moderator:
Christine Hockley
Managing Director, British Patient Capital
Christine joined British Patient Capital at its inception in 2018 and is responsible for directing fund investments in the core programme which invests in venture capital, both early and growth stage, and the Life Sciences Investment Programme which invests in growth stage life sciences funds.
Christine joined from the British Business Bank where she also invested in venture capital funds and British Business Investments where she led a lower mid-market private equity pilot. She has previous investment, corporate finance and commercial experience.
Panel 2: Where venture growth and innovation can sit in an institutional investor’s asset allocation strategy
Geoff Love
Head of Venture Capital and Equity Long/Short Investments, Wellcome Trust
Geoff joined the Wellcome Trust in 1998 and since then has been responsible for Wellcome’s investments in venture capital funds globally, as well as the equity long/short hedge fund exposure. In all this comprises around a quarter of Wellcome’s investment portfolio.
Wellcome is a global charitable foundation focused on making sure everyone can benefit from science’s potential to help and save lives. It has committed to spend £16bn by 2032 on projects across physical and social sciences and the humanities, with a particular aim to make a difference in the areas of climate and health, infectious disease and mental health, while also supporting advances in discovery research.
Peter Maher
Head of Venture Capital Investing, Legal & General Capital
Peter joined LGC as Head of Venture Capital Investing in May 2021 from Cambridge Associates’ London office, where he led the team dedicated to European private equity, growth equity, VC fund manager origination, evaluation, and execution. Prior to that, he managed investment portfolios for private families in the US and Europe as a Director in Cambridge Associates’ Boston office. In his new role at LGC, Peter will develop and implement the strategy for LGC Venture Capital’s next stage of growth across all its existing and future VC investments.
Fidel Manolopoulos
Principal, Hermes GPE
Fidel joined Hermes GPE in 2017 and focuses on growth investment activities in the EMEA region. He has a strong background in technology enabled growth investing, gained over several years at Kennet Partners and ViewPoint Capital. Latterly he was at Mojo Capital where he led direct investments. Fidel holds an MA in Computer Science and Business Administration from Technical University of Darmstadt, Germany. He is a German/Greek national and speaks fluent English, German and Greek.
Kathryn Mayne
Managing Director, Horsley Bridge Partners
Kathryn joined Horsley Bridge Partners in 2003 and manages our firm’s London office. Prior to HBP, Kathryn was Senior Vice President Investments with Claridge Inc., where she was involved with investments in media, technology, consumer and industrial companies as well as private equity fund investments. Kathryn started her professional career in asset management with Jarislowsky, Fraser in Montreal. She has a BA in History from the University of Calgary and an MBA from the University of Western Ontario.
Moderator:
Ian Connatty
Managing Director, British Patient Capital
Ian joined in 2018. His previous experience includes working at the British Business Bank and its predecessor, Capital for Enterprise Ltd. He brings with him a wealth of experience in VC fund investing, including close involvement in the deployment of the VC Catalyst which formed the seed portfolio of British Patient Capital.
He previously worked in corporate finance at technology company Infinity SDC and in financial modelling at the Royal Bank of Scotland.
