The Adventure Capital Fund has formed a new company, Adventure
Capital Fund Management, to manage the Futurebuilders fund
from 1st April. The ACF has appointed Acevo’s chief
executive Stephen Bubb to chair the new venture.
The ACFM will act as the supervisory company to Futurebuilders
England, and as such, said the ACF, Futurebuilders will
be committed to comply with ACFM budgets and strategy for
the Futurebuilders fund.
Stephen Bubb will reduce his commitments at Acevo to four
days per week, while the umbrella group’s director
of strategy and enterprise, Peter Kyle, will become deputy
chief executive to pick up the slack.
Commenting on his appointment, Bubb said: “Both the
Acevo board and I were very keen to ensure proper governance
arrangements to give effective time to both my Acevo and
Futurebuilders roles. I see my key role as ambassador for
the organisation, helping it to achieve its objectives by
getting more third sector organisations to deliver public
Richard Gutch, Futurebuilders England’s chief executive
will be stepping down from his role at the end of March.
Gutch said: “Over the past four years I have had the
privilege of working with an excellent chair, Peter Wheeler,
and a brilliant board and investment committee. I have also
had a very talented senior management and staff. The positive
reports we’ve received from the Futurebuilders Advisory
Panel, the National Audit Office and Sheffield Hallam University,
are a credit to their hard work and commitment.”
Gutch will be replaced on 1st April by the ACF’s
chief executive, Jonathan Lewis.