Former Chief of Just Eat to Join U.K. Venture Capital Firm

(Bloomberg) -- The former chief executive officer of Just Eat Plc is joining 83North, a U.K. venture capital firm that was an early backer of the takeaway delivery company.

David Buttress, who stepped down as CEO of Just Eat at the end of March, will join 83North Ltd. as a general partner and be based in London, according to a statement Monday.

Buttress joined Just Eat in 2006 to launch its U.K. business. Since he became CEO at the start of 2013 to when he announced his departure on Feb 10, the company's stock more than doubled compared with a 13.5 percent rise for the FTSE 250.

83North, a venture capital firm with offices in London and Tel Aviv, recently closed a new $250 million fund that will target early-stage technology companies in Europe and Israel.

An early backer of Just Eat, the investor has long had a strong focus on British technology startups. However Laurel Bowden, a partner at the firm, recently said that because of the U.K.'s decision to leave the European Union, the new fund would probably emphasize investments in European tech hubs outside the U.K.

To contact the reporter on this story: Giles Turner in London at gturner35@bloomberg.net.

To contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, Eric Pfanner