Carole Piwnica


Carole is the founder and Managing Director of Naxos. Naxos invests in expansion opportunities. The fund likes to form long-term partnerships with management and co-investors to help a business realise its potential. The fund is evergreen which means it provides committed, long term capital. Carole is board member of Naxos portfolio companies Amyris, Big Red and Elevance (US). She is also an independent board member of Eutelsat, Rothschild & Co and Sanofi (France). Carole chairs the i2O board and has been a Non-Executive Director since 2014.


Nick Beart

Nick is a Director of Nemadi Advisors Limited, which selects and manages investments for clients. Nemadi has been invested in i2O since 2007. Nick was Finance Director of the New Covent Garden Soup Company, and a Non-Executive Director of mail-order clothing business, Boden. Recently he was among the management team that acquired and expanded chocolate company, Green & Black’s.


Stephen Brooke

Stephen is founder and CEO of Ombu Group and has been invested in i2O since 2009. Ombu is a holding company for advanced technology companies which allows it to take a genuinely long-term approach to investment. It brings significant amounts of capital and management support to each of the companies it backs to support their growth. Previously, Stephen was Director of Business Development at IP Group plc, and gained venture capital experience at Columbia University Science and Technology Ventures and Bridgepoint Capital.


Joel Hagan

Joel brings more than 20 years of business leadership and technology expertise to i2O. As founder and former chief executive of ONZO, a venture-backed start-up providing energy data analytics, he has a deep understanding of the utilities sector and significant experience of building early stage companies and developing data analytics and control technologies.


Kevin Starling

Non-executive director

Kevin Starling was appointed to i2O’s board as a non-executive director in 2017. He has more than 30 years’ experience working in the utility industry and has held senior leadership positions at Anglian Water, United Utilities, Air Selangor, Sofia Water and ESVAL. Kevin is also Chairman of Ferret Technology and has served on the boards of Aguas Argentinas, Manila Water and Tallinn Water.

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