The Business Growth Fund (BGF) has drafted in former Lovefilm and Mothercare boss Simon Calver to help run a £200 million venture capital fund dedicated to early-stage technology companies.
Calver, who quit Mothercare last year in the wake of a profit warning, is now chair of print company Moo.com and online pharmacy Chemist Direct.
He will be joined on the BGF team by venture capital investor Rory Stirling and Harry Briggs, co-founder of juice maker Firefly Tonics.
Stephen Welton, BGF chief executive, said: “Harry, Simon and Rory bring a strong mix of venture and entrepreneurial experience, with ambitions to unearth some of the most exciting UK technology companies of tomorrow.”
BGF is backed by banking groups Barclays, HSBC, Lloyds, Royal Bank of Scotland and Standard Chartered.