BVCA and UKTI launch venture partnership

Emily Levin
26 June 2012

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UK Trade & Investment (UKTI) and the British Venture Capital Association (BVCA) have come to an agreement to work closely together to promote the UK as an international centre for venture capital and engage with overseas investors.

BVCA and UKTI hope this will secure overseas investment into UK start-ups and venture funds. The unit will be led by Chris Wade, an experienced entrepreneur, as the new venture capital unit (NVCU) director.

Minister Lord Green said he was "excited by the possibilities of what the NVCU can achieve".

The NVCU will deal with matters such as fundraising overseas, particularly from sovereign wealth funds, and the promotion of home-grown venture capital-backed start-ups.

Priority areas for joint work include identifying and highlighting the best elements or companies in the UK venture capital and innovation scene. Finding and supporting the best UK SMEs to pitch to investors is also an important factor, as well as encouraging overseas investors to consider committing to UK venture capital funds.

UKTI and the BVCA said the alliance will fulfill its ambitions to achieve strong, sustainable and balanced growth in the UK that is more evenly shared across the country and between industries.

These objectives are in line with The Plan for Growth, the Government's latest economic policy announced last year, and will give businesses, investors and the public more clarity about the long-term direction of the economy.