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Andy Gregory appointed to the Board of BGF
BGF announces the appointment of Andy Gregory, Head of Investments – UK and Ireland, to the Board of the company. Andy has been with BGF since 2011, joining as Regional Director for the North of England, and is now responsible for the management and strategic direction of all regional investment teams across the UK & Ireland.
Over the course of the past nine years, BGF has continued to grow its investment portfolio year-on-year, maintaining its core growth capital focus, continuing to expand into emerging earlier-stage sectors, and increasing its exposure on AIM. In the first half of 2020, despite Covid-19, BGF has consciously maintained its investment momentum with one new investment per week on average, including during lockdown.
Stephen Welton, Executive Chair commented on the appointment: “One of the core strengths of BGF is our regional and decentralised investment model which has flourished and grown under Andy’s stewardship.
“The urgent need for significant and broadly based growth capital at a regional level has become ever more evident as a result of the Covid-19 crisis, and vehicles such as BGF that can deploy this capital at pace into innovative businesses as well as emerging new sectors such as sustainability and life sciences is now critical to the UK’s economy recovery. The Board is delighted to announce Andy’s appointment as BGF continues on its own journey to scale up its operations to meet demand from firms that are ready to refuel and relaunch their growth plans, and as we work within the industry to help to address the twin challenges of mounting debt and insufficient capital.”
Andy Gregory commented: “BGF has become the most active equity investor in the UK thanks to the hard work of our regional investment teams and the ambitions of those we have backed over the past nine years. By focusing on our core market of growth businesses, we have built solid foundations for the continued expansion of BGF. I am pleased to be joining the Board at such a critical junction in the funding industry, where now, more than ever, companies and entrepreneurs will require the support of established and trusted financial backers, not just for the recovery but beyond.”
BGF has continued hiring into the investment and infrastructure teams throughout the lockdown, with five new recruits joining since March and nine since the beginning of the year. In line with an anticipated increase in demand for growth capital, BGF will be continuing to hire into its regional teams over the next six months and beyond.
Following an announcement earlier this year and effective as of 1 July 2020, Stephen Welton has transitioned from founding CEO to Executive Chairman and Neil Johnson, Non-Executive Director, who has served on the Board since 2011, has taken on the role of Deputy Chairman. Sir Nigel Rudd retired as BGF Chairman on 31 June 2020, at the end of his third term in the role.
BGF has invested more than £2.2bn across more than 330 companies. BGF has most recently added to its network of 14 offices with new openings in Cambridge, to support its growing investments in life sciences, and Cork to drive further expansion in the Republic of Ireland.
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