Ex-Montagu man joins NVM

UK venture house Northern Venture Managers has appointed Martin Green, a former member of Montagu’s recently dissolved small-cap investment business.

Northern Venture Managers, an independent venture capital provider with offices in Newcastle upon Tyne, Edinburgh and Reading, has recruited Martin Green as an investment director.

Green joins the firm after leaving Montagu Private Equity earlier this year. His departure came after the London-headquartered group closed down Montagu Capital, a subsidiary specialising in making small equity investments in UK companies.

At an earlier stage in his career, Green worked for quoted venture capital house 3i where he held a number of positions including director with overall responsibility for investment in the Midlands.

At Northern Venture Managers, Green will work alongside fellow investment director Tim Levett who is based in the firm’s Reading office. Levett said in a statement that Green’s appointment was part of a strategy to expand the firm’s business across the UK.

Northern Venture Managers has been active in the UK market since 1988. The group manages £160 million (€236 million; $284 million) in capital in five different fund structures, four of which are Venture Capital Trusts. All five funds are quoted on the London Stock Exchange. Preferred transactions range from £500,000 to £5 million of equity investments in unquoted UK businesses. 

In 2003, the firm became independent following a management buyout from then parent Aberdeen Asset Management.

Northern Venture Managers is run by managing director Alistair Conn. Michael Denny is chairman.