Business and Enterprise Minister Mark Prisk today announced the appointment of Lucy Armstrong as the new chair of Capital for Enterprise Limited (CfEL).
Capital for Enterprise Limited is the company which advises the Government on the design, implementation and management of finance measures to support small and medium sized enterprises (SMEs) across the UK. It manages programmes that provide around £4 billion in finance to SMEs.
Business and Enterprise Minister Mark Prisk said:
“I am pleased to announce Lucy Armstrong as the new chair of Capital for Enterprise Limited. She brings a breadth of experience from working directly with high growth small companies, business angels and regional funds.
“The finance programmes managed by Capital for Enterprise Limited are vital for supporting new and growing small businesses across the UK, and Lucy’s expertise and insight will ensure these programmes continue to be successful.”
Lucy Armstrong is chief executive of The Alchemists, a company that matches up experienced, successful entrepreneurs with high growth medium sized business to accelerate their growth. She will serve as the non-executive chair of Capital for Enterprise Limited from 1 April 2012 initially until 31 March 2015.
Capital for Enterprise (CfEL) is a fund management company which designs, delivers and manages venture capital and debt guarantee schemes on behalf of the public and private sectors. CfEL brings together deep knowledge, experience and expertise in investment management along with a detailed understanding of SME finance markets (debt, equity and hybrids), public policy objectives and the interaction between the two.
CfEL is the largest single investor in UK venture capital, giving it a detailed overview of the UK venture market. Taken together, the debt and equity programmes mean that CfEL has over £1.1bn of assets and liabilities under its direct management. When all of the private sector money is taken into account, these schemes under CfEL’s oversight have created financing schemes which total more than £4bn invested in, or available to SMEs.
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