Octopus Investments has appointed Erin Platts as chief executive, subject to regulatory approval from the FCA.

Ms Platts is already CEO of Octopus Ventures, a role that she will retain.

She joined Octopus Ventures as CEO in January but will now have a dual leadership position.

The company said that by uniting the leadership of the two arms it will benefit from a co-ordinated strategy, closer alignment between retail investment and venture capital and greater opportunities to scale impact for both investors and entrepreneurs.

Before joining Octopus Ms Platts spent nearly two decades at HSBC Innovation Banking (formerly Silicon Valley Bank UK).

She said she looked forward to, “the opportunity to work cross functionally, to build on our market position and power us on our next stage of growth.”

Simon Rogerson, CEO and co-founder of Octopus Group, said: “Octopus Investments is a business that, at 25 years-old, continues to embrace change. We are always evolving our strategy and expanding into new areas to reach our full potential.”

Octopus Investments provides venture capital trusts and business relief qualifying investments, as well as investing in AIM-listed companies. It was founded in 2000 and manages £9.8bn on behalf of more than 70,000 investors. It has more than 600 employees.

Octopus Ventures is a venture capital investor which has supported more than 200 early-stage businesses, including Zoopla, Secret Escapes, Depop, Swiftkey and Graze.

The £12.5bn Octopus Group also owns companies such as Octopus Energy, Octopus Money and white label platform Seccl.

Octopus Money was launched by the Octopus Group in May 2023.