Image: Cam Ross, New CEO of Green Angel Syndicate
The following new appointments will lay the groundwork for GAS to further develop its EIS Climate Change Fund and future fund management activities. More growth for GAS means a greater impact on the reduction and reversal of greenhouse gas emissions and a greater impact in the fight against climate change.
We are delighted to announce the appointment of two new Independent Non-Executive Directors: Claire Ainsworth and Francesco Cacciabue.
Claire is a Partner (former Managing Partner) and Chair of the Investment Committee at Triple Point Investment Management, a purpose-driven investment manager with assets under management of £2.7 billion. Triple Point's funds include Venture Capital Trusts, an Impact EIS Programme, the Triple Point Heat Networks fund provided by the Department for Business, Energy and Industrial Strategy, and several quoted Investment Trusts. These include the Triple Point Energy Efficiency Infrastructure Fund and the Triple Point Social Housing Real Estate Investment Trust. Triple Point has invested in many renewable energy projects, including solar PV, anaerobic digestion and run-of-river hydro, and through its Impact EIS Programme is a co-investor in two GAS portfolio companies.
Francesco is a Founding Partner and Chief Financial Officer at Glennmont Partners, one of Europe's largest investors focusing on clean energy infrastructure, with over £2 billion under management. Glennmont has investments primarily through Limited Partnership Funds raised from institutional investors in wind farms, biomass power stations, solar parks and small-scale hydropower plants. Francesco has been investing in this area for 13 years, and has been a member of GAS for 4 years, and has invested in eight GAS portfolio companies. In 2021 Glennmont was acquired by Nuveen, one of the largest fund managers in the world, which is itself owned by the Teachers Insurance and Annuity Association – College Retirement Equities Fund of the US.
John Hinnigan, formerly Chair of GAS, who has acted as the Independent Non-Executive Director of GAS since 2019, will step down from the Board, primarily to focus his energy on the four GAS portfolio companies where he is a Director.
Simon Acland, GAS Chair and Co-Founder, said: "We are exceptionally fortunate to have been able to attract Claire and Francesco as Non-Executive Directors. Their experience, so complementary to what we do, and their wisdom, will be immensely valuable to us as we develop Green Angel Syndicate's activities over the coming years. I would like to say a big thank you to John, who preceded me as Chair, and has been a stalwart supporter since his investment in GAS in 2017."
At the same time Nick Lyth, CEO and Co-Founder, is handing the Chief Executive mantle to Cam Ross, currently COO. He said: "Two years ago, my Co-Founder Simon moved himself into the role of Chair, handing his responsibilities for managing deal flow and investment over to Cam. That has been a resounding success, and I am now following his example so that Cam will take on all internal reporting lines. With great success, Cam took his payments company Veritape through the same phase of growth that GAS is now entering. I will take on the title of President and this adjustment will free me up to focus on creating new customer relationships to develop our nascent fund management business. I will also have more time to continue to communicate externally why investment in innovation to combat climate change is so important. It is the issue of our time and I am extremely proud to have founded the only angel syndicate in the UK specialising in the fight against climate change."
Green Angel Syndicate is delighted to welcome Claire and Francesco to the Board, and Cam as CEO. While looking forward to the future, we would also like to take a moment to appreciate all that Nick has done in his role as CEO, as well as all that John has contributed. In the last four years, GAS has met or exceeded every one of its major targets, with 2021 being its most successful year yet, culminating in a £5m commitment from British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank. With continuing growth in both the size and number of investments, and an expansion of fund management activities, we expect GAS to have an exponentially greater impact in the fight against climate change over the coming years.
Notes to Editors
About Green Angel Syndicate
Green Angel Syndicate (GAS) is one of the largest angel syndicates in the UK, and the only one specialising in the fight against Climate Change. GAS has attracted over 300 members and invested in 28 start-up and early-stage companies across 10 different economic sectors.
For more information or to speak to Green Angel Syndicate, please contact email@example.com / 07771 895 946