9:25 am, October 23, 2023
Cambria Investment Holdings has made Mike Allen the manager of new investment firm Cambria Private Capital.
The investments holdings outfit was formed as part of the Cambria Bidco investment vehicle that was used to delist Cambria Automobiles from the London Stock Exchange in October 2021.
Cambria Private Capital – part of the Cambria Group – boasts an initial fund of £10m and will invest up to £1m in start-ups and scale-ups.
It is looking for businesses that are post-seed stage and have proven revenue models that tackle problems in the automotive industry.
Allen, who is a well-known industry investor, analyst and commentator, said: ‘We believe Cambria Private Capital is a new corporate venture capital model in the UK that represents the automotive retail sector.
Mike Allen has been made investment manager of Cambria Private Capital
‘We are passionate about supporting entrepreneurs using our extensive network, supporting the right industry change, embracing an authentic environmental, social and governance framework for responsible investing, and delivering exceptional financial returns to impact on UK SME survival and the wider UK economy positively.’
The investment committee also includes Cambria Automobiles founder Mark Lavery, Cambria Group CFO Paul Buddin, board member and former finance director Rodney Smith, King and Spalding partner and Cambria non-executive director William Charnley, and Michael Burt, Promethean managing partner and Cambria non-executive director.
Lavery, who is chairman and CEO of Cambria Automobiles, said: ‘We aim to drive growth across the automotive sector with funding and exceptional support from our highly experienced team.
‘To achieve this goal, we are looking for driven founders who are aligned with the Cambria Group values and where the business can add value to other parts of the group.
‘We believe we are uniquely placed to identify the niche problems in the industry that need solving.’
