Monday October 6, 2014
London, UK – 6 October 2014 Asset Match, the online marketplace to buy and sell shares in UK private companies, today announced the appointment of Modwenna Rees-Mogg to the Board as a non-Executive Director.
Modwenna started her career as a corporate financier at Kleinwort Benson Limited where she worked on M&A and fundraisings. In 2003 she founded the online media business, AngelNews, aimed at investors and entrepreneurs. Modwenna is the author of Dragons or Angels which explores how to raise money from business angels and how to be a business angel investor, and Crowdfunding – how to raise money and make money in the crowd. She is a campaigner for improving transparency and accountability in the investment market and is a regular speaker and commentator on this subject, as well as other angel investment and entrepreneurial topics.
Commenting on the appointment Stuart Lucas, founder and co-CEO of Asset Match, said: “We are delighted that Modwenna has agreed to join us. She is a real authority in the angel investment world and highly respected among the early stage investment community and by entrepreneurs alike. Her ability to make connections and give sound advice will be invaluable to our growth plans and our vision to become the destination for the buying and selling of shares in UK private companies.”
Modwenna Rees-Mogg added: “I firmly believe that private companies with shareholders should provide their investors with the opportunity to exit from their investment, if they can. It is far better for a company to engage actively with its shareholders and ensure its goals remain aligned with their investment objectives and vice-versa. This means having a mechanism to adjust the shareholder base when required. Empowering shareholders to buy and sell from other each other is the essence of an efficient equity market. Asset Match goes further in that it opens the secondary market to new investors as well. That is very exciting indeed.
“I am very impressed by the approach the founders, based on their extensive experience in capital markets, have taken to solve this gap in the market. Private business founders now have a proven way to provide liquidity for their investors. This bodes well for the long term capital efficiency of privately owned businesses with multiple shareholders.”
Asset Match is an online hub that brings buyers and sellers of shares in private companies together. The service provides a transparent and fair mechanism to determine the price of shares through regular online auctions. It delivers an efficient way for shareholders to exit and realise the value of their assets and gives sophisticated investors opportunities to invest in growth or more established private companies. Companies are able to use the service to provide liquidity in their shares whilst remaining private entities and also as a means to raise further funds.
About Asset Match founders and co-CEOs
Stuart Lucas has worked in the City for 35 years. He started working on the trading floor of the London Stock Exchange and has held roles at: Bear Stearns Intl (head of International Fixed Income responsible for trading, sales and research as well as Senior Management Director); IBJ (head of dept responsible for trading, sales and research) and Nomura (Head of Credit Trading). In 2000 he established Bracken Partners, an investment banking boutique, private equity investor and fund manager.
Iain Baillie began his career at Strauss Turnbull and Co and has been involved in UK and European Capital Markets for over 35 years as a trader of both equities and corporate bonds, culminating in heading European credit trading as a Managing Director of Salomon Brothers. He has been a founding director of LBDP, a successful agency broker in European credit; CEO of MarketAxess Europe, the leading platform for electronic execution in the credit market; and Head of Fixed Income at Christopher Street Capital.
For further information please contact:
Iain Baillie, founder and co-CEO, Asset Match
Iain.Baillie@assetmatch.com +44 (0) 207 248 2788 or +44 (0) 7889 162122
Stuart Lucas, founder and co-CEO, Asset Match
Stuart.Lucas@assetmatch.com +44 (0) 207 248 2788 or +44 (0) 7768 645 454
Asset Match’s PR Consultancy, Eureka Communications
Teresa Horscroft/Ariane Comstive
+44 (0)1420 564346 /+44 (0)7990 520390 (Teresa Horscroft)
+44 (0)7785 922 354 (Ariane Comstive)
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