30 October 2023

Mike Allen has been recruited by Cambria Investment Holdings Ltd to lead its new investment company, Cambria Private Capital.

The company launches with an initial fund of £10m. It will make investments of up to £1m in startups and scaleups. Its focus will be on post-seed stage businesses with proven revenue models, and which address industry problems.

Founders who are aligned with its ESG values will be prioritised, along with IP-rich business models that solve problems in the industry.

Mike said the business is “a new corporate venture capital model in the UK that represents the automotive retail sector.

“Funding comes with a compelling investment committee offering over 150 years of industry experience.”

The investment committee includes Cambria Automobiles founder Mark Lavery, group CFO Paul Buddin, former FD Rodney Smith, and non-executive directors William Charnley and Michael Burt.

“We are passionate about supporting entrepreneurs using our extensive network, supporting the right industry change, embracing authentic ESG for responsible investing, and delivering exceptional financial returns to impact UK SME survival and the wide UK economy positively.”

Mark Lavery added the new company is “uniquely placed to identify the niche problems in the industry that need solving”.

Mike, who takes on the title of investment manager, will maintain his board advisor roles with “some of the UK’s most exciting automotive start-ups and market leaders in their respective fields”.

Tags: Cambria, Cambria Private Capital, Mike Allen