The co-founder and former CEO of Darktrace has been named as the UK’s new investment minister as the government seeks to deepen ties with businesses.

Poppy Gustafsson, who help setup the cybersecurity firm in 2013 before becoming its CEO in 2016, will be responsible for the revamped Office for Investment and will be tasked with promoting the UK to investors and businesses around the world and attracting more investment into the UK.

To support her efforts, the government is expanding its Office for Investment to become a larger and better equipped organisation which will bring together HMT, DBT and No10 into a joint unit to streamline how the government approaches business and investment.

The government said the Office for Investment will roll out a new, bespoke service in a bid to provide investors with the strongest possible government support to navigate the planning and skills landscape.

Gustafsson said: “I have first hand experience of building and scaling a business here in the UK and I am thrilled to have the opportunity to share with the international investment community what I already know to be true; the UK is a great place to do business.”

Secretary of State for Business and Trade Jonathan Reynolds said: “Poppy has shown she knows firsthand what it takes to start and grow a successful international business.

“Her private sector expertise will be vital in ensuring we attract more valuable investment into Britain and these changes show this Government’s growth mission will prioritise what businesses need to thrive in the UK and boost our economy.”

Last month, Gustafsson announced she would be leaving Darktrace, following the announcement of the Cambridge-based firm’s acquisition by US private equity firm Thoma Bravo in a £4.2bn deal.