Ovens succeeds Crossan as chairman at SIS Ventures
Scottish ‘profit with purpose’ fund SIS Ventures, is gearing up for its next phase of fundraising with a change of chairman.
David Ovens, chief operating officer at Archangels and current vice chairman of SIS Ventures, takes over as chairman from Bill Crossan with immediate effect. Mr Crossan will remain a member of the board to support the next phase of growth.
In Mr Ovens’ role at Archangels, he is responsible for the day-to-day management of the business, with additional responsibility for a number of the portfolio companies. An experienced corporate financier, he has previously held roles with Samuel Montagu & Company, Noble Grossart and Noble & Company, before setting up Invercap, a corporate advisory and investment firm based in Edinburgh.
Mr Ovens is also a non-executive director of LINC Scotland, the trade association for angel investors in Scotland and he will join the main board of Social Investment Scotland. He begins his tenure as chairman of SIS Ventures as it gears up for a second round of fundraising following its pioneering Impact First Fund.
Alastair Davis, CEO, SIS Ventures, said: “With a passion for supporting young enterprises, David will help us deliver an ambitious strategy for increasing our fundraising targets so we can deploy even more capital with more early stage mission-led entrepreneurs.”
Mr Ovens said: “I’m looking forward to working with Alastair and the board as we further embed the SIS Ventures name within the UK investor community and Scotland’s entrepreneurial ecosystem. We’ve enjoyed a successful first year of operation, and hopefully I can help the fund further capitalise on increased interest among investors in the values-based business model.”