River Capital announces hire for AI fund
Liverpool SME funder River Capital hires Martin Sutton to work on its multi-million pound fund for businesses focused on artificial intelligence
River Capital has announced the appointment of Martin Sutton as its AI venture partner.
In Late November, the Liverpool-based SME funder unveiled fund: AI. It will look to make investments of up to £2m in early-stage, high growth ventures working in artificial intelligence (AI), machine learning and data science.
Martin joins the firm having spent the previous six years at Manchester-based AI business PEAK. As one of the first team members to join Peak in 2016, Martin held positions including commercial director, business development director, and chief revenue officer.
Prior to Peak he spent 20 years working in high growth teams at global tech firms such as Sun Microsystems, Hitachi Data Systems, Fujitsu and Dell EMC.
As venture partner, Martin will work with the fund: AI leadership team in enabling early-stage, data-focused businesses to achieve their full potential. He will also raise the fund’s profile and help consolidate the pipeline of investment prospects.
Martin said: “This is a dream role for me at River Capital. I’m passionate about helping early-stage AI and data focussed businesses to achieve their full potential.
“Coupled with the fact that fund: AI has a laser focus on Northern businesses made this a no brainer for me. I’ve always believed we have amazing tech firms in the North but they are sometimes overlooked and underserved compared to their London peers.”
River Capital is seeking to capitalise on AI prospects within the North and will look to invest in around 15 AI-driven businesses over the next five years.
River Capital chief executive Mark Borzomato added: “We are thrilled to welcome Martin to the River Capital team. He brings extensive knowledge of the AI landscape within the North.
“His knowledge of the region’s ecosystem and extensive contacts will ensure we maximise the fund’s full potential.”