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www.british-business-bank.co.uk
@britishbbank
Investing into diverse teams:
VC & Female Founders Report
Alice Hu Wagner
MD Strategy, Economics & Business Development
The ‘VC & Female Founders’ report was released in February
45 UK
VC firms
For every £1 of venture capital investment in the UK:
To work on the issues, we need to know where they are
Bias in
decision-
making?
Problems
making contact
with VCs?
Few women in
the industries
VCs invest in?
To work on the issues, we need to know where they are
Problems
making contact
with VCs?
Few women in
the industries
VCs invest in?
Only 26% of
digital industries
employees are
female
Bias in
decision-
making?
Very few women make contact with VC firms
At investment committee, all-female teams convert but mixed
gender teams do less well
Networks are vital to getting investment
Warm
Cold
Outbound 10% 11% 10%
50%
9% 8%
39%
80% 82%
Pitchdecks
that reach a
VC firm…
…that get to
investment
committee
…that
receive
funding
2.1x
‘benefit’
from coming
in warm
-6.0x
‘penalty’
from coming
in cold
The circumstances for bias are there
So what can the industry do?
Four steps to take
3
2
4
Commit yourselves and your firm to
improving founder diversity and inclusion
• State that D&I is important to you!
• Do it privately and publicly
• BBB is adding D&I assessment to our
fund manager diligence
1
Four steps to take
3 4
Commit yourselves and your firm to
improving founder diversity and inclusion
• State that D&I is important to you!
• Do it privately and publicly
• BBB is adding D&I assessment to our
fund manager diligence
1 Collect and analyse diversity and inclusion
data on founders and share your findings
• Collect data, analyse it, discuss it
• Share your findings with others
• BBB is evaluating diversity in our VC
programmes
2
Four steps to take
4
Commit yourselves and your firm to
improving founder diversity and inclusion
• State that D&I is important to you!
• Do it privately and publicly
• BBB is adding D&I assessment to our
fund manager diligence
1 Collect and analyse diversity and inclusion
data on founders and share your findings
• Collect data, analyse it, discuss it
• Share your findings with others
• BBB is evaluating diversity in our VC
programmes
2
Connect with other firms and bodies and
help drive the agenda
• Challenge industry bodies
• Bring in those you need to progress
• BBB is working with BVCA, Diversity VC,
HM Treasury / ‘Alison Rose’ Review
3
Four steps to take
Commit yourselves and your firm to
improving founder diversity and inclusion
• State that D&I is important to you!
• Do it privately and publicly
• BBB is adding D&I assessment to our
fund manager diligence
Collect and analyse diversity and inclusion
data on founders and share your findings
• Collect data, analyse it, discuss it
• Share your findings with others
• BBB is evaluating diversity in our VC
programmes
Connect with other firms and bodies and
help drive the agenda
• Challenge industry bodies
• Bring in those you need to progress
• BBB is working with BVCA, Diversity VC,
HM Treasury / ‘Alison Rose’ Review
Develop steps to increase diversity for
your firm and track their impact
• Learn from others’ experiences
• Implement, measure, assess, adapt
• BBB will publish VCs’ progress against
these actions by the end of 2020
1
3
2
4
The report itself has detailed insights for VCs from…

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Investing in Diverse Teams

  • 1. www.british-business-bank.co.uk @britishbbank Investing into diverse teams: VC & Female Founders Report Alice Hu Wagner MD Strategy, Economics & Business Development
  • 2. The ‘VC & Female Founders’ report was released in February 45 UK VC firms
  • 3. For every £1 of venture capital investment in the UK:
  • 4. To work on the issues, we need to know where they are Bias in decision- making? Problems making contact with VCs? Few women in the industries VCs invest in?
  • 5. To work on the issues, we need to know where they are Problems making contact with VCs? Few women in the industries VCs invest in? Only 26% of digital industries employees are female Bias in decision- making?
  • 6. Very few women make contact with VC firms
  • 7. At investment committee, all-female teams convert but mixed gender teams do less well
  • 8. Networks are vital to getting investment Warm Cold Outbound 10% 11% 10% 50% 9% 8% 39% 80% 82% Pitchdecks that reach a VC firm… …that get to investment committee …that receive funding 2.1x ‘benefit’ from coming in warm -6.0x ‘penalty’ from coming in cold
  • 9. The circumstances for bias are there
  • 10. So what can the industry do?
  • 11. Four steps to take 3 2 4 Commit yourselves and your firm to improving founder diversity and inclusion • State that D&I is important to you! • Do it privately and publicly • BBB is adding D&I assessment to our fund manager diligence 1
  • 12. Four steps to take 3 4 Commit yourselves and your firm to improving founder diversity and inclusion • State that D&I is important to you! • Do it privately and publicly • BBB is adding D&I assessment to our fund manager diligence 1 Collect and analyse diversity and inclusion data on founders and share your findings • Collect data, analyse it, discuss it • Share your findings with others • BBB is evaluating diversity in our VC programmes 2
  • 13. Four steps to take 4 Commit yourselves and your firm to improving founder diversity and inclusion • State that D&I is important to you! • Do it privately and publicly • BBB is adding D&I assessment to our fund manager diligence 1 Collect and analyse diversity and inclusion data on founders and share your findings • Collect data, analyse it, discuss it • Share your findings with others • BBB is evaluating diversity in our VC programmes 2 Connect with other firms and bodies and help drive the agenda • Challenge industry bodies • Bring in those you need to progress • BBB is working with BVCA, Diversity VC, HM Treasury / ‘Alison Rose’ Review 3
  • 14. Four steps to take Commit yourselves and your firm to improving founder diversity and inclusion • State that D&I is important to you! • Do it privately and publicly • BBB is adding D&I assessment to our fund manager diligence Collect and analyse diversity and inclusion data on founders and share your findings • Collect data, analyse it, discuss it • Share your findings with others • BBB is evaluating diversity in our VC programmes Connect with other firms and bodies and help drive the agenda • Challenge industry bodies • Bring in those you need to progress • BBB is working with BVCA, Diversity VC, HM Treasury / ‘Alison Rose’ Review Develop steps to increase diversity for your firm and track their impact • Learn from others’ experiences • Implement, measure, assess, adapt • BBB will publish VCs’ progress against these actions by the end of 2020 1 3 2 4
  • 15. The report itself has detailed insights for VCs from…