TTP Ventures

25 October 2004

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TTP Ventures has announced that David Connell is to step down as executive chairman of TTP Venture Managers Ltd on 15 November 2004. Connell was chief executive of TTP Ventures from its formation in 1998 until 2002, when Gerry Fitzsimons took over as chief executive officer and Connell became executive chairman. Under his leadership TTP Ventures raised its first fund, with Â£35m of commitments from Siemens, Boeing and financial institutions and has made 21 investments. He will continue to be an adviser to the company and will remain a director of TTP Capital Partners Ltd and TeraView. He will also be keeping in close contact with some other portfolio companies with which he has been particularly involved personally. Connell joined TTP Group in 1989 to set up its strategy group, which specialised in new business development, corporate venturing and spinout strategies. He was previously responsible for the Deloitte Haskins and Sells High Technology Group. Connell's consulting work over this period was augmented by a series of systematic research programmes on technology exploitation, start-up strategies, the management of growth and other strategic issues of importance to science and technology firms. Most of this was published, and TTP Ventures' investment approach has been strongly influenced by the ideas that came out of this work.