Impetus co-founder steps down

UK venture philanthropy outfit Impetus Trust has appointed managing partner and co-founder of Palamon Capital Partners as its new chairman.

Louis Elson, a trustee of Impetus since July 2009, will take over from co-founder of Impetus Stephen Dawson, having served as chairman for seven years.

The newly appointed chairman is taking on the chairmanship as it enters into a four year growth plan. The UK trust is aiming to spend the next few years growing its portfolio of charities and social enterprises.

The founder of Palamon has a wealth of experience in private equity and financial sectors, having founded Palamon in 1999. Prior to Palamon, he was a London-based partner at Warburg Pincus. He is a trustee of Philips Academy – Andover in the US and is a member of the development board of The Prince’s Trust.

Elson said of his new appointment: “In the current economy the need for Impetus is greater than ever before as charities have to find solutions to the conundrum of reduced resources and increased demand.”

Launched in 2002, Impetus provides charities and social enterprises with both funding and expertise to allow them to develop and grow to increase their social impact.