UK-based financial services and insurance provider Legal & General (L&G) has named Jasan Fitzpatrick managing director of principal investment for its corporate venturing arm, L&G Capital (LGC).
Fitzpatrick joined LGC in July 2018 as general counsel after more than two decades of in-house legal practice at companies including banking firm Northern Rock, insurer Premium Credit and homebuilder Cala Group. He had overseen the unit’s compliance with legal and regulatory requirements and governance principles, and served as company secretary.
L&G began conducting direct investments in late 2016, according to Financial Times, shifting from its traded asset approach.
LGC invests from its parent company’s corporate balance sheet and has dedicated £600m ($780m) to venture capital and small and medium-sized enterprise (SME) financing, having already deployed over 65% of the committed capital.
The firm has tasked Fitzpatrick with managing VC and SME finance deals for LGC in the housing rental and purchasing space. LGC’s portfolio includes wearable health tracker producer Current Health, personal finance management platform Salary Finance and fusion energy technology developer Tokamak Energy.
Fitzpatrick said: “As managing director of principal investment, I want to innovate to unlock our pool of capital further, strengthening L&G’s position across VC, SME finance and the build to rent and affordable housing sectors, through the deployment of inclusive capital.”
Photo of Jasan Fitzpatrick courtesy of Legal & General.
