CDC’s Diana Noble appointed to BGF board

Noble will retain her role at the DFI as well as working with UK bank-backed BGF, a growth capital investor.

Diana Noble, chief executive of UK development finance institution CDC Group, has taken up a position on the board of the Business Growth Fund (BGF), a UK growth capital investor.

Noble took up the seat last week, and will continue in her role at CDC.

Prior to joining CDC, Noble spent five years with the Clinton Foundation's Health Access Initiative, where she took several roles, including executive vice president operations. In this role, she was responsible for 43 countries and five global teams, overseeing the scale-up of a global programme to improve children's access to HIV/AIDS treatment, BGF said in a statement.

Prior to this she was a partner at Permira, then called Schroder Ventures, for 12 years, founder chief executive of e-Ventures and founder Managing Director of Reed Elsevier Ventures.

BGF, founded in 2011, is an independent company which is backed by five of the UK’s banking groups – Barclays, HSBC, Lloyds, RBS and Standard Chartered. It has up to £2.5 billion in capital to invest in small and mid-sized businesses.

The companies it backs are privately-owned or listed on AIM, and typically have revenues of between £5 million and £100 million. BGF makes initial investments of between £2 million and £10 million, typically in the form of equity in return for a minority equity stake, it said.

Recent investments include £10 million in Ocee design, a Northampton-based supplier of contemporary commercial furniture, to support Ocee’s acquisition of Danish furniture designer Four Design; £5 million in AIM-listed ‘IT as a Service’ provider Pinnacle Technology Group; and £12 million in AIM-listed Satellite Solutions Worldwide Group to support the acquisition of Avonline Satellite Services Holdings.

“BGF supports a growing portfolio of highly ambitious companies,” Noble said in a statement. “I am passionate about providing these types of companies and entrepreneurs with the support they require and deserve in order to contribute to the economic prosperity of the UK.”