Bridges Community Ventures, the new mission driven venture capital company founded by Apax, 3i and Tom Singh of fashion retailer New Look, has appointed Carolyn Maddox as executive director.
Maddox brings 14 years of experience in private equity investment, previously working at 3i as an investment controller and subsequently as a director of Causeway Capital and ABN AMRO Private Equity. Prior to joining Bridges Community Ventures she worked at Equinox Securities specialising in raising finance for technology companies.
Bridges Community Ventures is managing £40 million in venture capital funds targeted to invest in growth businesses in under-invested communities across England. Funds are provided to a maximum of £2 million in exchange for a stake in the equity of the company. Bridges Community Ventures will invest funds in businesses located in electoral wards in England that fall within the most deprived quartile on the Index of Multiple Deprivation.
To be eligible, small- and medium-sized enterprises must have a potential for high capital growth, a winning business proposition and be based in and have strong links with the local area.
Other members of the team
include Philip Newborough (MD), Michele Giddens (executive director), Selvavinayagam Vireswer and Tom Matthews as associates.