Octopus Ventures, a leading venture capital firm in the UK and Europe, has announced the appointment of Erin Platts as its new CEO. Platts will join the firm in January 2025, bringing nearly two decades of experience from her tenure at Silicon Valley Bank (SVB) and HSBC Innovation Banking.
Erin Platts served as the CEO of SVB UK & EMEA, where she played a pivotal role in scaling the bank’s operations to 800 employees, focusing on supporting technology startups and scaleups. Following HSBC’s acquisition of SVB UK in 2023 for £1, Platts transitioned to the CEO of HSBC Innovation Banking UK, where she continued fostering the bank’s presence within the innovation community.
In her new role at Octopus Ventures, Platts will be responsible for refining and enhancing the equity capital business, expanding the pool of startups it supports across the UK and Europe, and broadening its capital provision. This move marks a significant step for Octopus Ventures, part of the larger Octopus Group, as it continues to bolster its position as one of the region’s largest and most active venture capital investors.
Alliott Cole, the current CEO of Octopus Ventures, will transition back to a full-time investment role, making way for Platts to lead the firm into its next growth phase.
Reflecting on her new role, Platts said, “After 20 years at Innovation Banking, with the bank in a strong position and with an experienced and stellar leadership team in place, I thought carefully about my next challenge. As someone who’s supported and championed the UK and European technology ecosystem, I’ve worked for many years alongside Octopus Ventures, one of the most active early-stage investors in the same ecosystem. I have always been a big fan and feel a clear alignment on values, so I am thrilled that I’ll still be supporting technology entrepreneurs and founders to achieve their goals.”
Platts expressed her optimism about the UK and Europe as fertile grounds for innovation, citing the presence of leading universities, early-stage innovation, and a wealth of talent. She emphasized the need to amplify these strengths to continue growing and maturing the ecosystem, aiming to attract both domestic and international capital.
Octopus Ventures manages £2 billion in assets and backs over 180 businesses through venture capital trusts as well as institutional and wholesale funds. Notable successes in its portfolio include Zoopla, Secret Escapes, Depop, Swiftkey, and Graze, with current investments in companies like Elvie, HURR, Orbex, ManyPets, and Skin+Me.
Simon Rogerson, co-founder and CEO of Octopus Group, welcomed Platts, saying, “We believe entrepreneurs and founders have the power to solve the world’s greatest challenges, acting as society’s true agents of change. As entrepreneurs ourselves, we understand what it takes to turn an idea into a successful company capable of changing our world for the better. You need strong teams, capital at every life stage, and people in your corner who will champion your vision. Erin has been that champion for decades, and I couldn’t think of a person better equipped than her to lead our venture capital business into its next phase of growth. Her ability to scale a business is remarkable. Her verve and optimism for the founder community is contagious, and we can’t wait to have her on board in the new year.”
With Erin Platts at the helm, Octopus Ventures looks poised to continue its mission of supporting innovative startups and fostering growth within the UK and European tech ecosystems.
