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Impact investor fund names new chair as it enters new fundraising phase



Impact investor fund SIS Ventures has named David Ovens as its new chairman to lead a new phase of fundraising.

Ovens steps up from vice chair to take over from Bill Crossan, who remains a board member at the fund which supports social enterprises.

Ovens is also chief operating officer at Archangels where he is responsible for the day-to-day management of the business angels investment syndicate. He worked for Samuel Montagu & Company, Noble Grossart and Noble & Company, before setting up corporate advisory and investment firm Invercap in Edinburgh.

SIS Ventures is a £1.3 million fund which previously backed new enterprises including Glasgow-based Talking Medicines and its drug-management app Medsmart ; EnteroBiotix , the Aberdeen life sciences firm which harnesses bacteria to prevent and treat illness; and Edinburgh craft beer Brewgooder , which aims to bring clean water to one million people.

SIS Ventures harnesses Enterprise Investment Scheme (EIS) relief and Social Investment Tax Relief (SITR), to maximise debt and equity funding for enterprises which aim to tackle a social problem with disruptive business solution.

Chief executive Alastair Davis said: “David’s experience as vice chair over the past year will be invaluable to SIS Ventures as we look to scale up the Fund. 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.

“I’d like to thank Bill for his contribution as chair in helping to kick-start the fund and I’m delighted that he’ll remain a key member of our talented Board during our next phase of growth.”

Ovens added: “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 capitalize on increased interest among investors in the values-based business model.”



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