The Daily Telegraph

Ex-bulb chief starts new company

- By Matt Oliver

THE co-founder of collapsed energy supplier Bulb is planning to start a new company, after landing a job at a venture capital fund backed by the former foreign secretary David Miliband.

Hayden Wood has been appointed as venture partner at Giant VC, where he will be tasked with finding European start-ups to invest in.

He will work with Giant to create a new business aimed as addressing Europe’s home energy efficiency crisis, the fund said yesterday.

Giant, which was launched two years ago, counts Mr Miliband and the former BP chief executive Lord Browne among its advisory board members.

The fund’s managing partner is Cameron Mclain, the founder of social media data firm Beehive, whose website also describes him as a “surfing enthusiast, sometime music producer and armchair philosophe­r”.

Bulb, an energy supplier launched in 2015, was bailed out by the taxpayer at a cost of more than £1.7bn.

It was placed in special administra­tion by the government last November after the company’s failure to buy energy far enough in advance left it fatally exposed to rocketing gas prices.

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