Ambitious bosses of private equity-backed technology firms are being targeted by a new high-level training organisation.

The European Leadership Programme (ELP) provides guidance to chief executives in areas such as preparing a company for sale, running a sales force and motivating a board of directors.

Ashley Ward, chief executive at ELP, who himself has been chief executive of eight firms, said: “As soon as a chief executive brings venture capita (VC) money into the business their world changes. VC firms seek an average rate of return of 35 to 40 per cent and chief executives are immediately put under a lot of pressure.

“But to date, there is very little in terms of support to guide them.”

The ELP has recruited 35 chief executives to its ranks since it was founded in January. Participants pay £3,750 for an annual membership and convene four times a year in groups of 12.

“Now we’re at a stage where we’ve proven the model works, it’s time for us to come out of the closet and bring in more leaders of high growth businesses,” said Ward

“We only accept people who are open-minded, want to raise their game and will allow themselves to be analysed on where they fit into the top 10 per cent of expertise.”

Nick Grossman, corporate business development director at private-equity backed VAR 2e2, said: “There is no way a private equity firm would invest in management unless they’re solid and able to take the business through.

“But on the other hand, this may be valuable for CEOs on the first round of VC funding that are competent but need to improve their understanding of how the private equity world works.”

Paul Morris at ISIS Equity Partners, said: “We’d use this very rarely. The bigger-ticket equity houses do expect management to get on with it, but we’d regard guiding chief executives as our own responsibility.”

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