British Business Bank plc has appointed Catherine Lewis La Torre as CEO of the Bank’s patient capital activities delivered through its commercial arm, a press release states.
Ms Lewis La Torre will also retain responsibility for the lending-based programmes in the commercial arm of the British Business Bank that support the provision of patient capital to growing British companies.
Catherine Lewis La Torre has built a career in venture capital and private equity fund management. She joined British Business Bank Group in 2016 from Cardano Risk Management, where she was Head of Private Equity, responsible for managing a global portfolio of private capital fund investments with over £1bn of commitments. Prior to this she was a Partner with secondaries specialist, Fondinvest Capital, in Paris having previously been one of the Founding Partners of fund-of-funds manager, Proventure which focused on venture and growth capital investing in Europe.
Catherine Lewis La Torre said:
I am thrilled to be taking on this important role to lead the patient capital activities within the Bank’s commercial arm and being a visible leader for these initiatives. I am looking forward to working alongside an experienced and dynamic team to increase the volume, diversity and accessibility of longer term finance so that more businesses can raise the capital they need to achieve their growth ambitions.
Keith Morgan, CEO British Business Bank Group said:
Catherine is a highly respected industry figure, with more than 30 years’ investment management experience and a strong track record of success. I am delighted that she has agreed to take on responsibility for all the British Business Bank’s commercial patient capital activities. I look forward to working with Catherine and her team to provide increased funding that will help growing businesses fulfil their potential, ensuring that the UK remains a key place in the world to raise funds and scale businesses.
WHAT’S PATIENT CAPITAL?
Patient capital is critical to build long-term investment in innovative companies across the UK led by ambitious entrepreneurs who want to create successful, world-class businesses. The UK Government consulted on potential barriers to accessing finance and the means to overcome them as part of the Patient Capital Review. The Patient Capital Review concluded in Autumn 2017 and, in November’s Budget, the Chancellor announced an action plan to unlock over £20bn to finance growth in innovative firms over 10 years. This plan allocated additional resources to the British Business Bank in response to the Patient Capital Review.
The British Business Bank is already the largest UK-based LP investor in venture capital with over £1bn committed across a range of different initiatives.