Former group CEO of Ceres Power, Peter Bance, has been appointed as entrepreneur in residence of investment management company, Octopus Investments.
Octopus, which has previously invested in snack-posting company, Graze.com, move download and rental business LoveFilm, and property search engine Zoopla, will require Bance to evaluate the benefits of potential future business deals.
Bance’s new role will also see him instructing entrepreneurs from companies in which Octopus has previously invested. His previous experience comes mainly from energy technology companies and he was most recently responsible for attracting investment to Ceres Power, as group CEO of the fuel cell technology provider.
As entrepreneur in residence of Octopus, Bance will now work mainly with early-stage growth businesses, on which the investment company is focused.
Alex Macpherson, head of the ventures team at Octopus Investments, is confident that Bance will be a great asset to the company: “We’re very happy to welcome Peter to the team. He is an expert CEO whose guidance will be invaluable to many of the talented entrepreneurs in our portfolio.”
Similarly, Bance is excited to share his business experience with Octopus: “I am delighted to bring my passion and experience to work in partnership with Octopus in [the alternative energy] sector but also in sharing my experience to benefit the whole spectrum of portfolio companies that Octopus supports.”
He added, “It is my view that the best VC firms have entrepreneurs on the inside, not just links to those on the outside. I’m impressed with the approach that the ventures team at Octopus takes to cultivate businesses and look forward to supporting its future endeavours.”