Jonathan Lewis will lead the community investment organisation in its goal to increase its fund from £15m to £150m by 2011. He has been a trustee of the Sussex Partnership NHS Trust since March 2006, but has no other voluntary sector experience. He will join in September.
Stephen Bubb, chief executive of chief executives body Acevo and chair of the Adventure Capital Fund, said: "Jonathan is sharp and incisive and is determined to find a development strategy that will take the fund forward. It's such a catch to get someone of this calibre."
The current chief executive, Sue Peters, will take up a new post as managing director of investments at the fund.