CDC names former IFC exec, Amadeus chief to investment committee

CDC Group Plc, the UK’s development finance institution, has roped in two new members for its investment committee to boost its venture-stage dealmaking activities.

CDC has appointed Anne Glover and Nikunj Jinsi to its investment committee.

Glover is CEO of technology-focussed investment firm Amadeus Capital Partners and a non-executive director of the Court of the Bank of England.

Jinsi is a former global head of venture capital at International Finance Corporation (IFC), the World Bank’s private-sector investment arm.

CDC has created the new VC investment committee to build exposure to third-party VC funds and for examining co-investment proposals.

The European investor’s venture-stage investment strategy revolves around a Limited Partner (LP) role with VC funds across hubs in Africa and South Asia. It also co-invests in early-stage companies in partnership with third-party funds.

To date, CDC has committed about US$140 million across 11 VC funds and US$10.5 million across four early-stage co-investments. It has also earmarked money for more funds and co-investments.

These include commitments to funds in Africa like TLCom, Sawari Ventures, Novastar and to funds in India like pi Ventures, Pravega Ventures, Stellaris Ventures and Chiratae Ventures. CDC says it will look to further expand coverage across key startup hubs in Africa and South Asia.

Glover, who has spent over three decades in the VC industry, co-founded Amadeus Capital in 1997 with Hermann Hauser.

Previously, she worked at Cummins Engine Company and in strategy consulting with Bain & Co, before returning to the UK to join Apax Partners in 1989 to invest in early-stage companies.

Glover became chief operating officer of one of her investee companies, Virtuality Group, after it listed on the London Stock Exchange in 1993, and then returned to investing as an angel investor before founding Amadeus in 1997.

Jinsi, who also comes with over three decades of experience, joined IFC in 2003 and built a direct portfolio in leading emerging market technology companies, of over US$600 million.

Besides his direct startup deals, he also led LP investments in emerging market VC fund managers, having made over 25 LP investments for a total of over US$400 million.