How did you move into corporate finance?
I completed a scholarship programme at Arthur Andersen in 2001, before studying economics and management at Oxford University. I then joined the graduate audit programme at Deloitte. An interest in going beyond audit and getting under the bonnet of a business was always there. I’d built up a broad network, so corporate finance was a good fit. My scholarship programme counted towards my ACA, so I qualified nine months earlier than my peers. I got ahead of the pack in terms of an internal move into the corporate finance advisory consumer team. The ACA training helped me understand how to analyse a set of accounts and apply that knowledge. It felt like being a detective, delving into layers of a financial model, identifying key risks and understanding the value drivers.
Where did you go next?
I was at Deloitte for 10 years and gained an enormous amount of experience working with very exciting mid-market companies and C-suite executives. But my passion was working with entrepreneur-led businesses, and I wanted more autonomy in originating sell-side M&A opportunities. I joined Cavendish Corporate Finance in 2015. They took a more boutique approach to working with companies, and their focus on entrepreneurs appealed. I could tap into my own network, target businesses I wanted to work with and be involved from start to finish.
Why did you go to Investec?
At Cavendish, I saw many clients preparing for exit who were actually two or three years away from a sale, and would benefit from raising capital to accelerate growth. I had that in mind when I joined Investec at the start of 2020 – the bank understood the importance of establishing early-stage relationships with companies.
What is your role?
I now co-head the private company fundraising team, a new offering by the bank. We raise external growth capital for fast-growing private companies that are generating at least £5m in annual revenues. We bring in a host of clients that in the past Investec wouldn’t have dealt with so early. It neatly intertwines with the rest of the bank’s products and services, including working closely with our M&A sector experts.
And day to day?
My role is focused on identifying an entrepreneur and a company, understanding their growth capital requirements – be it cash or strategic investment – and helping them articulate their ambitions. Our team sits in advisory, which includes private company M&A and equity capital markets. I also wear a second hat as a member of the private companies’ coverage team. I act as a relationship banker for clients, providing a consistent point of contact. This team encourages cross-pollination of ideas. We use data science and analytics to target companies that would benefit most.
Recent deals?
In the months since joining Investec, I’ve assessed or interacted with more than 150 companies. The deal flow has been phenomenal, stemming from both a latent pipeline of fundraising activity that the bank previously couldn’t serve, and also from reaching out to new clients. We have a broad range of deals, ranging from a £5m healthtech raise to a £25m proptech raise, to a £100m-plus fintech opportunity. We spend time understanding the complex business models, to develop a well-articulated equity story for investors. We look to build rapport with the founder and key management. We have since supported clients in various areas such as government loans and treasury solutions. Our goal is to assist these businesses with an exit in a couple of years.
And your ambitions now?
In the short term, to grow our fundraising team into a meaningful contributor to the bank, both in terms of revenue and relationships. In the longer term, I’m keen to help steer Investec’s strategic direction and bring an accretive skill-set and approach in reaching out to earlier-stage clients and intermediaries. I feel privileged to be part of such an entrepreneurial bank and to have access to such an exciting, ambitious client base and their growth journeys.
About the article
View this article from the Corporate Financier December 2020/January 2021 edition - exclusively for Corporate Finance Faculty & Faculties Online members - who can access our award winning magazine in its originally designed form, and our extensive archive brought to you by the ICAEW Corporate Finance Faculty.
