Kuber Ventures has partnered with angel investor and former board director of Carphone Warehouse Brendan Forster.
Kuber was founded in order to modernise and make the EIS market more accessible; enabling individual and intermediary investors to build diversified portfolios into their financial planning propositions.
The plan is for Forster to work with Kuber’s CEO Dermot Campbell and build the firm.
Kuber said that Forster will lend his market knowledge, business strategy skills and personal network. Foster has also taken a material equity stake in Kuber.
Forster was Carphone Warehouse’s first IT director from 1993 until 2005. He then built a position as the majority shareholder (CEO and subsequently Chairman) in Stonewood Group, which specialises in the design, manufacture and delivery of data encryption products and services. In June 2010 Stonewood was sold to US-listed ViaSat for £14m. In addition to these successes, Forster retains a number of other active angel investments holding majority stakes and board positions in businesses ranging from tech startups, precision engineering specialists and niche recruitment businesses, as well as a portfolio of minority positions in other startups.
Forster said: “Wealth management as an industry is going through a period of unprecedented change and digitalization is critical to every wealth managers future survival. Kuber has opened up tax efficient investing to more advisers and investors than ever before, achieving revenue growth to match this achievement. I have invested in, and partnered with Kuber, because I believe this is only the start. I will be working with Dermot to ensure that Kuber achieves its potential as a truly transformative platform in the Patient Capital space.”
Campbell added: “We have taken an opaque, antiquated, administratively burdensome sector and transformed it into one that’s accessible, easy to understand and all through digitalisation. Kuber is moving to the next level and Brendan’s skills and knowledge will help accelerate that.”