Nova Capital Management is expanding in the venture arena with the appointment of two senior experts to spearhead its business in the secondary acquisition and management of venture portfolios.
Olav Ostin joins as partner, venture assets from ETF Group, a pan European venture capital company, where he was a managing director and head of the UK office. Previously he was head of the technology M&A team at Enskilda Securities.
Tate also joins Nova as partner, venture assets from WestLB Panmure where he was head of investments responsible for the UK aspects of the €150m WestLB & Panmure Growth Fund, a captive within the WestLB Group. He has a 20 year record in investment banking and has also worked in accountancy and management consultancy.
Nova Capital Management launched in June 2002 as a specialist management company for private equity and venture capital portfolios, with particular focus on under-performing or under-managed portfolios.
Jeremy Moore, a former director at ABN AMRO investment bank, has also joined Nova Capital Management. Moore will be responsible for business development for the specialist portfolio management company. He has extensive experience in business turnarounds and corporate restructuring. He previously worked in the private equity arena as a director at KPMG and Granville Private Equity as well as on the operational side at ABN AMRO and as a director at Nortel Networks’ Strategic Alliances GPS (Global Professional Services), where he pursued an expansion policy across Europe.
Michael Kelly, managing partner of Nova Capital Management, said: “We have strong expectations for 2004, which is why we continue to strengthen our offering by employing leading experts in the market.”