OSI boardroom contends with new lead shareholder

Investment and financial advisory firm Braavos Capital has become lead shareholder in Oxford Sciences Innovation (OSI), the university’s venture fund, after accumulating about 20% interest over the past six months, the Telegraph reported today.
Braavos’s holding increased as former investor Woodford Investment Management left the scene, while further shares were bought up from commercialisation firm IP Group and Invesco Asset Management.
The news comes days after Patrick Pichette stood down as OSI’s chairman, and months after former chief executive Charles Conn departed with little fanfare.
Andre Crawford-Brunt, partner at Braavos Capital, is expected to soon join the fund’s board of directors.
Crawford-Brunt was reportedly supportive of Conn’s exit, with Telegraph sources citing a “misalignment” in strategic outlook as reason for both his and Pichette’s departure.
Conn, who refused to comment on the account, was chief executive for less than a year, having been appointed in March 2019.
The official rationale for Pichette’s exit was that he had left to focus on other international commitments.
Pichette’s accomplishments included setting up an artificial intelligence accelerator, in partnership with University of Toronto’s Creative Destruction Lab, although the Telegraph speculated he may have sought organisational reform.
Jim Wilkinson, interim chief executive at OSI, told the Telegraph: “Over the last four years, OSI has transformed the ecosystem in Oxford, increasing by fourfold the number of spinouts and attracting significant global investment and talent to the UK tech industry.
“While the last few months have seen changes to our board and executive team, our strategy has always remained the same – to identify and develop cutting edge science and technology from the University and create and grow world-leading companies.
“This is the team’s sole focus – and it is fully backed by our board and investors.”