MACAULAY CAPITAL - Key Persons


Clive Milner

Job Titles:
  • Operations Manager
Clive joined the team in November 2021. Clive originally studied Mechanical Engineering and worked in industry for 4 years before joining the Army where he spent the next 14 years in a variety of roles based in the UK, Northern Ireland, Germany and Cyprus. In more recent times he completed an MBA and has worked as a business advisor, run his own business and worked in small businesses in operational and general management roles. He brings to his role at Macaulay, first-hand experience of the issues currently facing SMEs. Outside of work Clive plays water polo, supports Bath Rugby and does far too much DIY.

David Horner - Managing Director

Job Titles:
  • Managing Director
David has more than 30 years' experience in corporate finance assignments, identifying, structuring, and managing investments as well as purchasing and managing private equity, specialist listed and AIM portfolios. After qualifying as a chartered accountant, he founded Chelverton Asset Management Limited to provide the investment management for Chelverton Growth Trust PLC, to which he added the Chelverton UK Dividend Trust PLC in1999 and three further Open Ended Investment Companies between 2006 and 2018; as of early 2022, CAM manages assets > £2.5bn. David launched Macaulay Capital in 2022 aiming to create attractive, tax efficient and financially rewarding investments.

Lindsay Mair - Chairman

Job Titles:
  • Chairman
  • Investment Banker
Lindsay is an experienced investment banker with a 30-year career in the City. He qualified as a chartered accountant with Touche Ross (now Deloitte) in 1987. He then worked in the corporate finance departments of various City firms, advising small cap listed companies on fund raisings, mergers and acquisitions and IPOs. Since September 2020, he has been the Chief Financial Officer of Low 6 Limited, which operates a B2B gamification platform for sports franchises.

Rebecca Leigh - Chief Investment Officer

Job Titles:
  • Investment Director
Rebecca joined the team in November 2021. She brings with her experience in investment banking, with 12 years at Credit Suisse and Morgan Stanley from 2004, where she was focused on equity, equity derivative and fund linked solutions to the UK institutional market. In recent years, Rebecca worked with early-stage companies assisting in strategy and in raising capital. She holds a BSc from Bristol in Mathematics and a Certificate in Financial Accounting from Harvard Business School. When not working in financial services she enjoys spending time with her 3 young boys and has a strong interest in residential property, having previously established a small residential property development company.

Richard Bucknell - Chief Investment Officer

Job Titles:
  • Chief Investment Officer
Richard is an experienced equity investment professional who has led in excess of 30 investments into small, private companies since 1998. In most cases, Richard has gone on to represent investor interests on the Boards of these companies. He has helped shape the strategic direction of the businesses over time, through to managing the realisation process on behalf of investors. Prior to the launch of Macaulay Capital, Richard led the unquoted investment activity of Chelverton Asset Management for 8 years. Previous roles have included senior investment management positions at firms including Barclays Ventures, Livingbridge (previously ISIS Equity Partners) and Catapult Venture Managers.