LONDON, 21 October 2024 – Impact X, Europe’s leading venture capital investor targeting underrepresented innovators, has announced the appointment of British M&A “powerhouse” lawyer John Adebiyi as its new Chair.
Following a rigorous vetting process, John – who has a stellar resume of multi-billion dollar transactions with some of the world’s biggest brands during his 28 years at prestigious law firm Skadden Arps Slate Meagher & Flom (UK) LLP – joined London-based Impact X as a Founding Member earlier this year, became an Investment Committee member in June and will take on the role of Chair in January 2025.
Ric Lewis, Co-Founder of UK private equity firm Tristan Capital Partners, is Impact X’s current Chair who also serves as Investment Committee Chair since the fund’s inception. He will transition to the role of Chair Emeritus in January 2025.
Eric Collins, Co-Founder and CEO of Impact X, said: “After an extensive search, we are beyond excited to have uncovered such an extraordinary talent. With decades of experience, John Adebiyi has been at the epicentre of many big deals and he is the ideal new Chair for us at a crucial moment in Impact X’s growth journey.”
Paying tribute to Ric, Eric added: “There is no way to overstate Ric’s singular and invaluable contributions. He has helped the Impact X franchise achieve escape velocity and move from infancy to an effectively functioning entity through six years of sophisticated guidance and we are delighted that he will continue to work with us as a Founding Member, Chair Emeritus and Investment Committee Chair.”
Commenting on his new role, John said: “This is more of a calling than a job and I’m thrilled to be taking on this new challenge. From the moment I became aware of Impact X, I was struck by the values I share with this company – the idea of making a sustainable impact, or as Eric and our CIO Paula Groves refer to it, compounding impact.
“By investing in underrepresented entrepreneurs and startups we get differentiated deal flow that injects both capital and unique value-add whilst taking advantage of a significant return on investment from under-tapped potential which benefits everyone.”
“I am excited to work with a towering figure in the international business community like Eric and the stellar team he has assembled at Impact X on this critical mission. I would like to express my appreciation for the enormous contributions that Ric continues to make at Impact X. He leaves a huge pair of shoes to fill and I am extremely grateful for the support he has provided as I transition to this role.”
Headquartered in London, Impact X invests in differentiated deal flow by targeting Seed, Seed Extension and Series A companies in the UK and Europe, founded by diverse entrepreneurs. Its goal is to be the investment leader in its category by investing £1 billion to positively impact 1 billion lives.
Impact X has successfully deployed capital since 2018 from two funds, and is an early backer of insurance technology unicorn Marshmallow. From fund two, Impact X Global I, the team has backed the LA-based creative economy fintech solution Bump, Sweden-based sustainability company Cetasol that targets vessel fleets, British gaming studio Good Gate Media, and Quantum Dice, the British random-number-generating security solution.
Investors in Impact X Global I include Bank of America, the Visa Foundation, Guy’s and St Thomas’ Foundation, and technology and venture capital investor Atomico.
Alongside Eric, Ric, Paula and John, the company’s founding members include Ursula Burns, former CEO of Xerox and the first Black woman to head a Fortune 500 company, and actor and comedian Sir Lenny Henry.
Impact X includes Impact X Capital LLP and Impact X Operations LLP.