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The Board consists of five directors, three of whom are independent of AFM. The Board has overall responsibility for the Company and its investment policies and has appointed AFM as the investment manager. AFM will be represented by the four members of the Investment Committee.

Richard Hargreaves, 61, Non-executive Chairman

Richard has invested in smaller companies since 1973 and is a former chairman of the British Venture Capital Association (1989-1990). In 1982, after nearly ten years working at 3i, (1989-1990), he founded Baronsmead plc, which launched one of the first VCTs, Baronsmead VCT plc in 1995. Following the sale of Baronsmead to Ivory & Sime (now F&C Asset Management) that year, his team was responsible for all Ivory & Sime’s unquoted investment activities.

On leaving Ivory & Sime in 1997, he consulted in the small companies’ field before co-founding Classic Management Limited, where he was involved in managing four VCTs (now merged and called Chrysalis VCT plc) until May 2004. He has also been a non-executive director of Elderstreet VCT plc and chairman of Pennine Downing AIM VCT plc. Richard now actively manages his own portfolio of unquoted investments and has co-founded Endeavour Ventures Ltd, a “business angels” investment club. Richard Hargreaves has a BA in Electrical Sciences from Queens’ College in Cambridge and a M.Sc. and PhD in Electrical Electrical Materials Science from Imperial College, London.

 

Professor Kevin Morley, 57, Non-executive Director

Kevin was a member of the Advisory Board of Alchemy Partners from its foundation in 1996 until November 2004. He began his career in marketing at the Ford Motor Company in 1977 before moving to the Rover Group as marketing director in 1986. Kevin was appointed managing director of Rover Cars in 1990, a position he held until 1992, when he left to start his own marketing consultancy which he sold to Interpublic Group in 1995.

Kevin is currently chairman of a number of private companies. He also owns several marketing agencies and continues to work as a consultant on marketing issues. Kevin Morley has an MBA from Aston University Business School, is an honorary professor at Warwick University and a Freeman of the City of London.

 

David Lowe, 53, Non-executive Director

David is a Chartered Accountant, qualifying with Coopers & Lybrand in 1977. After successfully building, managing and Lybrand in 1977. After successfully building, managing and exiting from a number of business interests, David has been involved for more than ten years in the Private Equity industry, assisting the management of over 150 companies with pre and post acquisition due diligence.

Currently, an adviser to Elderstreet VCT plc, he has recently overseen the £100m + sale of Computer Software Group plc (with Richard Hargreaves), where they were both directors for eight years.. He has been a Director of and major shareholder in APT Controls Ltd for seven years. His recent directorships include Skyhigh plc, (AIM listed) and Snacktime Limited.

 

 

Robert Wilson, 53, Non-executive Director

Robert is an investment director for Chrysalis VCT Management Limited, the management company of Chrysalis VCT plc. He is involved in all aspects of the business; sourcing and processing new investments, monitoring and aftercare of the portfolio and arranging and executing realisations and exits. He also sits on a number of investee company boards.

Robert is a chartered accountant with over twenty years experience in the venture capital industry concentrating on smaller, unquoted companies. Prior to Chrysalis he worked for Baronsmead which was sold to Ivory & Sime (now F&C Asset Management), 3i Group plc and Classic Fund Management Limited.

 

 

Graham Urquhart, 55, Non-executive Director

Graham is an Economics graduate. He has been a qualified Chartered Secretary for over 30 years, became an Associate of his Institute in 1976 and a Fellow in 1984. After three years at Legal & General, he worked in the Company Secretarial Department of Mobil Oil Corporation for seven years, where he gained his formal training. He joined Guinness Peat Group in 1983 as an Assistant Group Secretary where he first became involved in venture capital. After four years, he moved on to J S Gadd & Co where he was Group Secretary.

In 1989, he set up Woodside Secretaries Limited through which he has operated his own corporate secretarial practice for the last 18 years. Woodside has serviced over 20 Venture Capital Trusts since their introduction in the 1990s. He has been Secretary of Arc Growth Company VCT since its launch

 

 

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