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British Patient Capital Response to the Small Business Equity Tracker and Talent in VC report

Insights 14 June 2019

Catherine Lewis La Torre, CEO of British Patient Capital said:

I’m delighted that the British Business Bank’s Small Business Equity Tracker report highlights that growth stage deals for funds we support are larger than the wider private equity/venture capital market. This shows British Patient Capital’s increased activities are beginning to address the funding gap affecting scale-up businesses, enabling larger deals so that scale-up companies are better capitalised.

Further encouraging evidence of our positive impact on the ecosystem for scale-up businesses comes from the finding that funds supported by British Patient Capital were involved in three of the ten largest UK SME equity deals in 2018.

The 28% increase in investment in companies outside of London, to £2.8bn in 2018, also suggests that our work is beginning to address the funding gap affecting ambitious scale-up businesses right across the UK – a key part of British Patient Capital’s mission.

Commenting on the Talent in VC chapter of the report, Catherine Lewis La Torre said:

It’s concerning to note the conclusion that low talent diversity, particularly at senior levels, may be hindering the development of the next generation of senior UK venture capitalists.

The finding of low gender diversity at senior levels, where only 13% of senior venture capitalists are female, and also at junior and mid-levels, where only 29% are female – provides just one example of an area in which the industry can do more.

There is growing consensus that diversity is a critical success factor for high performing teams. VC firms must embrace diversity and look beyond their traditional networks to seek out a broader range of candidates from more diverse backgrounds.

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