Nova Capital expands team

Nova Capital Management has announced two new hires who will build up the firm’s capability to manage venture portfolios, which it is currently evaluating from sources such as corporate venturers, financial investors and banks, which are either disaffected with the private equity asset class or have instituted a change of direction that no longer involves pursuing an in-house venture portfolio. In addition, the firm is also looking at deals involving the remaining portfolios of venture firms that are unlikely to be able to raise future funds for investment.

Olav Ostin joins from ETF Group, the pan European venture capital company, where he was MD and head of the UK offices. David Tate joins from WestLB Panmure where he was head of investments responsible for the UK aspects of the captive WestLB & Panmure Growth Fund.