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Darwin Rhodes secures Expansion Finance from The Capital Fund

Darwin Rhodes Group Ltd, a leading recruitment consultancy specialising in the pensions, insurance, actuarial, and financial planning markets, has secured funding of £1.2 million to support ambitious expansion plans and a partial MBO. The new funding includes a £250,000 investment from The Capital Fund, a £50 million venture capital fund which backs fast-growing, small and medium-sized enterprises in Greater London. The Capital Fund was introduced to Darwin Rhodes by Hyde Consulting, and invested alongside the management team and a syndicate of business angels, brought together by Hyde, who provided £740,000.

Darwin Rhodes has grown from its three founders in 1996 to become a global recruitment firm specialising in the insurance and financial sector, with offices in the Far East and Australia as well as regional branches across the UK. The company boasts a prestigious international client list including HSBC Bank, Prudential, KPMG, Barclays Group and Royal Sun Alliance.

Peter Dunphy, Chief Executive of Darwin Rhodes Group, said:
“We are delighted to have secured this major capital injection from The Capital Fund, and Hyde Consulting’s business angels, which will enable us to consolidate our offering in the UK and implement our ambitious plans for international expansion. We are unique among recruitment firms in choosing from the outset to focus exclusively on the insurance sector and our consultants have developed as specialists within particular fields, ranging from employee benefit schemes and pensions to insurance, investment and actuarial work. So when a client registers a vacancy or an applicant registers a CV they are guaranteed to speak to a consultant who understands their needs.”

“The financial services sector is experiencing rapid growth in China and India, following liberalisation of the sector, and Darwin Rhodes is well-placed to exploit this as we are the only specialist insurance recruitment firm operating in those markets. The first step in our plans for substantial overseas growth will see us establishing offices in Mumbai and New York to add to our presence in Hong Kong, Shanghai and Sydney. In the UK, we plan to enhance our existing offering and also diversify to provide investment, compliance and executive search services.”

Mr Dunphy praised The Capital Fund and Hyde Consulting:
“Throughout the investment process we were impressed by the professionalism and diligence of Mike Kennedy and The Capital Fund team, and Nick Shires at Hyde Consulting. We are pleased to have the Fund on board as an investor in Darwin Rhodes – they have provided the crucial finance we need to implement our plans to grow the business, and their support also gives us added credibility in our relationships with existing and prospective clients.”

The Capital Fund’s Investment Manager, Mike Kennedy, said:
“Darwin Rhodes has an extremely strong and enviable brand reputation both in the UK and internationally amongst its clients. This is due to the unrivalled specialist skills and experience which the firm’s management team and consultants offer across a range of financial recruitment services. These factors, together with Peter Dunphy’s track record in developing a business that has remained consistently profitable in changing economic conditions, made Darwin Rhodes a very attractive investment proposition for the Fund. We believe that the business has great potential and wish the management team every success with their expansion plans.”

Peter Dunphy, Chief Executive of Darwin Rhodes, a leading recruitment firm specialising in the insurance and financial sector, which has secured £1.2 million to take forward its ambitious expansion plans.

Press enquiries to Margaret Henry, Press Manager.
Tel: +44 (0) 1865 811127 or email:

Launched in 2002, The Capital Fund is a £50 million venture capital fund which backs fas

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The Capital Fund
+44 (0)1865 811127

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