Cambria Funding Holdings has recruited Mike Allen from Zeus to go its new funding firm, Cambria Non-public Capital.

The corporate is launching with an preliminary fund of £10m and can make investments of as much as £1m in startups and scaleups. It’s in search of post-seed stage companies with confirmed income fashions addressing trade issues.

Allen is an trade investor, analyst, and commentator with expertise in supporting progress within the sector. He’ll keep his board advisor roles with a few of the UK’s automotive start-ups and market leaders of their respective fields.

Allen mentioned: “We consider Cambria Non-public Capital is a brand new company enterprise capital mannequin within the UK that represents the automotive retail sector. Funding comes with a compelling funding committee providing over 150 years of trade expertise.

“We’re enthusiastic about supporting entrepreneurs utilizing our in depth community, supporting the appropriate trade change, embracing genuine ESG for accountable investing, and delivering distinctive monetary returns to impression UK SME survival and the broader UK economic system positively.”

Cambria Non-public Capital will prioritise founders aligned with its ESG values, and IP-rich enterprise fashions, which have the flexibility to resolve issues within the trade. The funding supervisor will work in partnership with the founders to develop a complete marketing strategy with hands-on help in any respect levels of the funding.  

The funding committee consists of Mark Lavery (pictured proper), founding father of Cambria Vehicles; Mike Allen, funding supervisor; Paul Buddin, group chief monetary officer at Cambria; Rodney Smith, skilled board member and a former finance director; William Charnley, accomplice at King and Spalding and non-executive director (NED) at Cambria, and Michael Burt, managing accomplice at Promethean and a NED at Cambria.

Mark Lavery, chairman and CEO of Cambria Vehicles, mentioned: “We intention to drive progress throughout the automotive sector with funding and distinctive help from our extremely skilled crew. To realize this objective, we’re in search of pushed founders who’re aligned with the Cambria Group values and the place the enterprise can add worth to different components of the group.

“We consider we’re uniquely positioned to determine the area of interest issues within the trade that want fixing.”