Father of U.K. Venture Capital Invests in Ariadne Capital
London (June 24th, 2002) – Ariadne Capital Ltd has appointed Lionel T Anthony, a key builder of the U.K. venture capital industry over the past 25 years, to its Board of Directors. Anthony is the founder of private equity firm Cinven Ltd and venture capital fund Causeway Capital Group Ltd. He also served as chairman of the British Venture Capital Association [BVCA] in 1987 and 1988, and was later chairman of the MBO/MBI* committee of the European Venture Capital Association [EVCA] in Brussels.
Anthony established the in-house venture capital facility for the Coal Board Pension Funds, which later became Cinven. Cinven gained its independence from the Coal Board and is now one of the leading providers of private equity for large European buyouts. Anthony understood early on the important part that small, innovative companies could play in the regeneration of the UK economy. Indeed his US experience confirmed the economic impact of providing access to patient, long term capital on employment and growth.
In 1983 he founded Causeway Capital to raise and invest funds into this sector. During the 80’s and 90’s the dominance of the UK venture capital industry within Europe attracted the attention of European banks and financial institutions and in 1996 he sold Causeway to the ABN AMRO bank. By the time of the sale, Causeway Capital had raised nine funds of almost .5 billion.
Anthony’s vision was to assist small and medium-sized companies at every stage of their development. His investment activity began as Deputy-Director General of the Coal Board Pension Funds in 1976 where he was able to pioneer institutional involvement in 'direct' investment. He created seven CIN (Coal Industry Nominee) companies to provide permanent capital for companies wishing to expand, including two 'leasing' companies, a film financing company and a ‘invoice discounting’ company. These activities aimed at supplying working capital to expanding companies where equity was not available. His biggest creation there was CIN Industrial Finance in 1997 that later became known as Cinven.
Since founding Causeway Capital he has been responsible for raising more than 11 investment funds, often from major US and European institutions. These included two funds dedicated to smaller publicly listed companies and two mezzanine partnerships.
He played a pivotal role in the early discussions with government, in setting the framework -- both legal and financial -- for venture capital teams to operate. He also helped establish the initial valuation guidelines to enable institutions to invest on objective information.
Ariadne Capital Ltd is a European venture capital group formed in December 2000 by Julie Meyer and Bundeep Singh Rangar, who were joined by Senia Rapisarda in early 2001. The London-based firm is approached by about 120 companies each month seeking assistance in accessing capital, innovation, talent and customers. It capitalizes on its unique network built over many years that is institutionalized in a proprietary Knowledge Management System. Ariadne Capital helps companies scale across Europe by leveraging a diverse set of international relationships held by its professionals and investors that have operational experience as well as knowledge of finance, technology and transactions.
Ariadne Capital’s Investor Members are a growing number of private individuals who have invested in Ariadne Capital, with Lionel Anthony being the newest member. They include Martin Velasco, former Board member of Spain’s largest phone company Telefónica S.A.; Candace Johnson, founder of Europe’s largest satellite operator Société Européenne des Satellites ASTRA SA; Gerhard Huber, founder of ENBA; Alan Turner, founder and director of James Hallam Insurance; Michele Appendino, founder and Managing Director, Net-Partners; Wayne Lochner & Terry Plummer, founders and chief executives of Affinity Internet Holdings Plc, the U.K.’s largest provider of convergent billing services; Gerard Bonnevay, Board Member of Credit Agricole C.E. /Indosuez Group, which focuses on wholesale banking and international business within the larger Credit Agricole SA, France’s leading commercial bank; and Peter Wakeham, founder & CEO of World Investor Link (WILink.com Plc), a U.K. provider of investor services to 4,200 corporate and mutual fund clients in 14 countries in Europe and North America.
”I am thrilled to have attracted Lionel Anthony, one of the UK venture capital industry’s founding fathers to Ariadne Capital’s Board of Directors, and to have him join our Private Investor Network. His new location in Brussels will provide another advantage for Ariadne Capital to address the Continental European market. Ariadne Capital is also a pioneer in assessing the lessons of the past half decade in venture investing, and in applying them to a new model of venture capital which focuses on more than just capital, but also in actively building sales and securing talent,” said Julie Meyer, CEO and Founder, of Ariadne Capital.
“Lionel’s track record has demonstrated a profound understanding of the many ways of providing working capital to assist companies to grow in a sustainable fashion using ‘asset finance’ in the form of Venture Leasing, and Invoice Discounting, and to Supplying equity capital and, of course, through the ‘added value’ that comes with active Board representation.”
”Having met Julie in the spring of 1998, I was pleased to be back in touch with her through Alan Turner, one of Ariadne Capital’s Private Investors in 2002, and to have seen her achievements over five years,” said Lionel Anthony. “Ariadne Capital’s innovative business model will have a huge impact on rapidly growing companies in Europe. They properly assess how important access to the right commercial and strategic partners can be at the early end of a business, and are well-positioned to continue to secure these deals for their portfolio.”
“As a founding father of the British venture capital industry, Lionel recognizes what we’re doing differently in order to create real value for investors and entrepreneurs,” said Bundeep Singh Rangar, COO & Founder of Ariadne Capital. “It takes an industry veteran to spot the new model of venture capital that we’re building.” “Lionel’s joining us and investing in Ariadne Capital is a significant endorsement of our business model that combines the provision of capital with talent and sales for growing companies and is a boost to our goal of refining the venture capital experience.”
“When I led Nomura’s 0 million Principal Investments team two years ago, I too saw the need for a proposition combining advisory and investment work as instituted by Ariadne Capital, “said Senia Rapisarda, Director, Ariadne Capital. “Lionel shares the same vision and will add significantly to the experience of our investment team. It will be a privilege to work with one of the forerunners of the European venture capital industry.”
Notes to Editors:
For more information, contact:
Julie Meyer, founder and CEO, Ariadne Capital
+44 (0)20 7653 0236
Bundeep Singh Rangar, founder and COO, Ariadne Capital
+44 (0)20 7653 0215
Lionel Anthony, ANTHONY Consulting, 539 Avenue Louise, 1050 Brussels.
+32 (0)2 647 5745
Kate Opekar, Marketing & Communications, Ariadne Capital
Tel +44 (0)07985 040720
*MBO – Management Buy-Out
*MBI – Management Buy-In
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