Fitzsimons is appointed TTP Ventures CEO


09-01-2003

FITZSIMONS APPOINTED TTP VENTURES CEO

TTP Ventures today announced the appointment of Gerry Fitzsimons as Chief Executive Officer. He replaces David Connell, one of the original founders of TTP Ventures, who becomes Executive Chairman, taking over from the current non-executive chairman, David Parnell.



This reorganisation of management responsibilities is made to facilitate the further growth in TTP Ventures business, which is currently raising its second fund.



Gerry Fitzsimons will take over the day to day management of TTP Ventures, assume responsibility for investor relations and deal with transactional issues on both existing and new investments. David Connell will increase marketing and promotional activities, focus on leading major new deals, and work with portfolio companies to accelerate business development.



'Splitting management responsibilities will enable us to continue with our goal of developing one of the strongest science and technology focused venture capital firms in the UK', said David Connell. 'Gerry has been involved with the business since its formation and was the natural candidate to become CEO'.



Gerry Fitzsimons commented: 'I am delighted with this new role. TTP Ventures has a highly distinctive approach to early stage science and technology investing through our relationship with TTP Group. We are able to use the expertise of TTP Group to help us assess potential investments and add value to those companies in which we invest. These advantages are reflected in the strength of our existing portfolio.



'As founding CEO of TTP Ventures, David has built a strong team and an excellent reputation in the market. I look forward to continuing to work with him to build on what he has achieved.'



Gerry Fitzsimons joined the investment team at TTP Ventures in January 2001. He was previously a leading corporate finance lawyer with substantial experience of private equity transactions and had been the external legal adviser both to TTP Ventures and TTP Group. He was heavily involved in the recently completed investment by TTP Ventures and others in Cambridge Semiconductor Ltd.

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TTP Ventures supports early stage technology companies with investment and incubation services.

TTP Venture Managers Ltd