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3i announces new head of global venture

Following the retirement of Rod Perry, which will take effect from July 2005, Jo Taylor will assume responsibility for the firm’s global venture capital division.

Jo Taylor, current head of the UK venture capital team at London-listed 3i, will become global head of venture capital designate from January 1st 2005.

Forty-three year-old Taylor will replace current incumbent Rod Perry, who will officially retire from the business with effect from the conclusion of the firm’s AGM next July.

Perry, 59, has been responsible for 3i’s global venture capital business since 2001 and has been with the firm since 1985. Commenting on Perry’s decision, chief executive Philip Yea said in a statement: “He has guided us through the post-bubble period and positioned us well for the future.”

Taylor has been in charge of 3i’s UK venture capital team since 1999 and is chairman of the British Venture Capital Association (BVCA) High Technology Committee.

Speaking to PrivateEquityOnline, Taylor said that the main focus of his new role in running the global venture business for 3i would be to source the best venture opportunities through a single global operating team in the continents where it currently operates (US, Europe and Asia).

Across the three continents, Taylor will inherit a team of approximately 50 staff focusing on venture capital.

Commenting on the state of the European VC market, Taylor said: “While deal flow is pretty good, exits remain the $64,000 question. IPOs need to come back, but one trend we are seeing is a number of trade exits to US acquirors.”

3i has sold portfolio companies element5 and Trigenix to US companies this year.