Hotbed, a UK-based private equity firm funded by individual investors, has appointed Bernard Dale from LDC, formerly known as Lloyds TSB Development Capital.

Dale has 15 years' experience in venture capital, providing over £100m (€157m) of capital on various enterprises. He previously spent seven years working for 3i, the UK-based private equity firm, before his eight-year stint at LDC, the venture capital arm of Lloyds TSB.