James Nelson is new BVCA head

The British Venture Capital Association (BVCA) has appointed James Nelson, a director of F&C Ventures, to the position of chairman. He takes over from Clive Sherling, a director of Apax Partners & Co Ventures.

Nelson founded F&C Ventures in the early 1980s and has played a leading role in its subsequent development.

The company is a major provider of equity for mid-market companies and has funds under management of approximately GBP500 million. Its largest fund, Foreign and Colonial Enterprise Trust, is the top performing investment trust over five and ten years.

“As chairman I will continue the mission to persuade UK pension funds to increase their allocation to venture capital. Clive Sherling has made tremendous headway in breaking down their inertia and hitting home the message of superior returns generated by our industry. UK institutions cannot continue to deprive their beneficiaries of these returns.

The BVCA is now clearly heard but there is still more to be done,” says Nelson.

Among other changes to the BVCA council, Martin Gagen of 3i becomes vice-chairman; Edmund Truell, a director of Duke Street Capital, is appointed chairman of the investor relations committee; and Johnathan Diggines, a director of Murray Johnstone Private Equity, becomes chairman of the legal and technical committee.

BVCA council members re-elected include: Clive Sherling as BVCA past chairman; Margaret Chamberlain, regulatory committee; Johnathan Clarke, taxation committee; David Thorp, emerging growth companies committee; Joe McGrane, regional committee; and Peter Smaill, education and training committee.

Norman Murray, past BVCA chairman, resigned from the council and was thanked for his very significant work for the BVCA.