London-based healthcare and life sciences investor Downing has appointed Dr Nigel Pitchford to the newly created role of head of healthcare ventures.

Pitchford has 25 years of healthcare ventures experience from a range of firms including 3i Group, DFJ Esprit, Imperial Innovations and most recently as chief executive of IESO Digital Health.

Dr Kostas Manolis, head of private market investments at Downing, said: “We have made the strategic decision to further invest in healthcare ventures given the strength of the market, increased investor appetite post-pandemic, as well as the social impact element that is inherent in this sector, whether that’s improving patient outcomes or access to healthcare and innovation.

“Nigel brings a wealth of additional experience and knowledge to our existing healthcare ventures team. He will play a key role as we look to build a significant, specialist healthcare investment platform with the aim of expanding our retail funds alongside bespoke institutional capital.”

Pitchford commented: “It’s a really exciting time to be joining Downing and the healthcare ventures team. There is already a great team that has built a compelling portfolio, track record and pipeline. I’m looking forward to using my experience to support the portfolio companies and, in turn, deliver enhanced returns for investors. Downing has a mature platform with a range of excellent services including distribution, reporting and operations, which is ready to support significant growth for the healthcare business.”

Since 2014, Downing’s healthcare ventures team has deployed more than £36 million of venture capital across 20 businesses in the sector.