About Us
 
 

Who we are

The directors of Blue are respected entrepreneurs, with successful track records in renewable energy, real estate, private equity, venture capital, insurance and healthcare.  They have worked together as a team since 2011, when they established Joule Africa, to develop grid-scale renewable energy projects in sub-Saharan Africa.

Blue was established in 2016 (as Joule International Holdings), initially to raise and manage development capital for Joule Africa. It subsequently became the investment platform for projects and companies across a range of asset classes, including renewable energy, natural resources and real estate.

Our Purpose

To invest in projects and companies that create economic value for stakeholders, in a socially and environmentally responsible way.

Our Values

We value integrity, transparency, responsibility, determination and teamwork, and strive to embed these in every aspect of our own business and the businesses in which we invest.

 
 

Executive Team

Andrew Cavaghan

Executive Director

Andrew is Executive Director of Blue, having been CEO and then Executive Chairman of Joule Africa since 2011.  Joule Africa is the largest portfolio company of Blue International Holdings with over $2bn of renewable power projects in development in sub-Saharan Africa, and a pipeline of further opportunities it is pursuing. Joule Africa was itself formed out of the merger between Desert Lion Partners LLP and Joule Investments Limited where Andrew was the co-founder and Managing Partner of the former.  Desert Lion Partners was set up in 2009 to invest in infrastructure and other asset-based projects in Sierra Leone, West Africa. Bumbuna II HPP was its first investment.

Previously, Andrew was a Director at the UK-based private equity firm Octopus Investments. He was part of the original investment team whose performance helped increase funds under management from £20m to over £800m in 2009 when he left (funds under management are now over £8bn). During his time at Octopus, Andrew was responsible for numerous middle market buy-outs, realising an IRR of over 26% over 5 years with four successful trade sales and two IPOs. Earlier, Andrew was part of the founding team at London Seed Capital, an early stage venture capital fund owned by Greater London Enterprise.  Andrew, spent an early part of his career working at corporate law firm Theodore Goddard (now Addleshaw Goddard) in the corporate finance department of their London office.

He holds a BA Hons in Philosophy from University College London and is a qualified Barrister in the UK.

Mark Green

Executive Director

Mark is Executive Director of Blue, having previously worked as President and Chairman of Joule Africa since 2011.  Joule Africa is the largest portfolio company of Blue International Holdings with over $2bn of renewable power projects in development in sub-Saharan Africa, and a pipeline of further opportunities it is pursuing.  Joule Africa was itself formed out of the merger between Desert Lion Partners LLP and Joule Investments Limited where Andrew was the co-founder and Managing Partner of the former.  Desert Lion Partners was set up in 2009 to invest in infrastructure and other asset-based projects in Sierra Leone, West Africa.  Bumbuna II HPP was its first investment.

Prior to co-founding Desert Lion Partners Mark worked as COO for a new microfinance organisation in Sierra Leone, on behalf of a London based asset management company. 

Prior to working in Sierra Leone, Mark co-founded a property investment and development company operating in the UK and USA with over $20m of development completed. Previously, Mark worked in the strategy team at Accenture and as the Head of International Business Development for retail financial services conglomerate CPP PLC.

Mark holds a BA Hons in Theology from Birmingham University.

Howard Shaw

Director, Governance Risk and Compliance

Howard is Director of GRC at Blue, having previously been Chief Compliance Officer at Joule Africa between March 2017 and December 2019.  Howard has extensive experience in designing, building and embedding governance, ethics and compliance programmes into corporations, including UK Bribery Act compliance programmes. He has over 34 years' experience in financial crime risk management and has worked internationally in both law enforcement and the private sectors.

Howard has served as Head of Anti-Corruption for a mining company and has extensive experience of West Africa, particularly Sierra Leone. Howard has been a member of a number of governance related committees at the British Standards Institution (BSi) and currently chairs the BSi Anti-Bribery Committee. He is the current Chair of the International Standards Organisation (ISO) Technical Committee on Governance.

Ian McNeill

General Counsel

Ian is General Counsel, having previously been Head of Legal at Joule Africa.  Ian first started working with Joule Africa in 2013. Ian has over 30 years’ experience as a corporate and projects lawyer, gained mainly with major corporations, including Entergy and BG (now part of Shell), and as a partner in leading international law firms.

Ian has worked on the development of independent power projects (CCGT and lignite-fired) in Europe, Southeast Asia and the Indian subcontinent and renewable energy projects (hydro, solar PV and wind) in Africa, the United Kingdom and Southern Europe.  Other experience includes numerous corporate investments, acquisitions and disposals across a range of sectors and asset classes.

Ian has a degree in law from the University of Aberdeen and postgraduate qualifications in law and finance.

Martin Cox

Director, Investor Relations

Martin is Director of Investor Relations at Blue, having previously been Head of Investor Relations at Joule Africa and involved with the business since 2012.  

Martin has spent over 20 years as an FCA regulated financial advisor in the UK, working with High Net Worth clients, particularly focused on advising on investments into high growth, unquoted, companies. Martin’s role at Blue is focused on investor communications with our 140+ High Net Worth Investors, a number of whom are, or have been, clients of Martin.  Martin is also an Observer on the board of Blue on behalf of the B Ordinary Shareholders. 

Martin trained as an engineer and prior to entering the financial services industry worked in the machine tool industry.

 
 

Board Members

Andrew Cavaghan

Executive Director

Andrew is Executive Director of Blue, having been CEO and then Executive Chairman of Joule Africa since 2011. Joule Africa is the largest portfolio company of Blue International Holdings with over $2bn of renewable power projects in development in sub-Saharan Africa, and a pipeline of further opportunities it is pursuing. Joule Africa was itself formed out of the merger between Desert Lion Partners LLP and Joule Investments Limited where Andrew was the co-founder and Managing Partner of the former.  Desert Lion Partners was set up in 2009 to invest in infrastructure and other asset-based projects in Sierra Leone, West Africa. Bumbuna II HPP was its first investment.

Previously, Andrew was a Director at the UK-based private equity firm Octopus Investments. He was part of the original investment team whose performance helped increase funds under management from £20m to over £800m in 2009 when he left (funds under management are now over £8bn). During his time at Octopus, Andrew was responsible for numerous middle market buy-outs, realising an IRR of over 26% over 5 years with four successful trade sales and two IPOs. Earlier, Andrew was part of the founding team at London Seed Capital, an early stage venture capital fund owned by Greater London Enterprise.  Andrew, spent an early part of his career working at corporate law firm Theodore Goddard, (now Addleshaw Goddard) in the corporate finance department of their London office.

He holds a BA Hons in Philosophy from University College London and is a qualified Barrister in the UK.

Mark Green

Executive Director

Mark is Executive Director of Blue, having previously worked as President and Chairman of Joule Africa since 2011.  Joule Africa is the largest portfolio company of Blue International Holdings with over $2bn of renewable power projects in development in sub-Saharan Africa, and a pipeline of further opportunities it is pursuing.  Joule Africa was itself formed out of the merger between Desert Lion Partners LLP and Joule Investments Limited where Andrew was the co-founder and Managing Partner of the former.  Desert Lion Partners was set up in 2009 to invest in infrastructure and other asset-based projects in Sierra Leone, West Africa.  Bumbuna II HPP was its first investment.

Prior to co-founding Desert Lion Partners Mark worked as COO for a new microfinance organisation in Sierra Leone, on behalf of a London based asset management company. 

Prior to working in Sierra Leone, Mark co-founded a property investment and development company operating in the UK and USA with over $20m of development completed. Previously, Mark worked in the strategy team at Accenture and as the Head of International Business Development for retail financial services conglomerate CPP PLC.

Mark holds a BA Hons in Theology from Birmingham University.

Kevin Clark

Director

Kevin is a non-executive director on the board and acts as a consultant to Joule Africa on various of its projects. Kevin was co-founder and CEO of Joule Management, overseeing all aspects of the firm's hydroelectric plants in Latin America.

Prior to this, Kevin was a General Partner at Integrity Partners, where he played leading roles in the firm’s investments since 2000. Kevin also co-founded Silicon Edge Law Group, an intellectual property law firm. Earlier, Kevin worked as an engineer and patent attorney for Qualcomm.

Kevin holds a B.S. and M.S. in electrical engineering and computer science from the University of California, and a J.D. from Stanford Law School where he graduated Order of the Coif.

Greg Newman

Director

Greg is a non-executive director on the board and is also co-founder of Joule Management, which has hydroelectric plants in Latin America.

In 1999 Greg co-founded Integrity Partners, a seed stage venture capital firm, where he was a General Partner. Integrity Partners was the first investor in Baidu (NASDAQ: BIDU) where Greg served on the Board of Directors until taking the company public in 2005. Prior to Integrity Partners, Greg was part of the founding team at C2B Technologies, subsequently acquired by Inktomi and later Yahoo! Previously, he was on the founding team at Macromedia, subsequently acquired by Adobe.

Greg has over twenty years of executive leadership experience creating shareholder value at Fortune 500 companies including Oracle and Apple. He currently serves as a director for several charitable organisations.

David Edward

Director

David spent most of his working career as an underwriter in the Lloyd’s insurance market. He was a founding partner and director of Ascot Underwriting Limited, a company that was taken from start-up in 2001 to a very successful sale to AIG in 2008.

David is now involved in numerous start-up companies in non-executive directorship and advisory roles, assisting these companies during their development.

In addition David brings experience and expertise in risk assessment and management as well as providing advice on Joule’s insurance arrangements.