Former Conservative Party treasurer Lord Stanley Fink has been named chair of modular homes firm Project Etopia.

Already a director in the Cambridge-based firm, Fink has upped his investment in Project Utopia from £3m to £7m, according to the company.

Describing Fink’s role as “hands-on”, Project Etopia said the multimillionaire would help the company ramp up its activities in offsite construction.