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Adapting with Purpose

The COVID-19 pandemic has had a severe and long-lasting impact on people and businesses across the UK. Faced with an unprecedented health and economic crisis, companies have been forced to adapt quickly to the challenges of the new environment.

This year the BVCA has told the stories of those companies with a new initiative. ‘Adapting with Purpose’, produced in association with Grant Thornton UK LLP, captures a range of case studies from BVCA member organisations that recognise how management teams navigated the COVID-19 crisis in 2020. We worked closely with Grant Thornton who have supported our work with innovative management teams for many years. In the past, this initiative has focused on the BVCA Management Team Awards. On reflection with Grant Thornton on the extraordinary year and the immense efforts made by so many companies, we decided that we should recognise outstanding examples where management teams adapted with purpose in 2020.

Case studies from the industry frontline, 2020

The BVCA’s members are actively invested in over 4,000 companies in the UK, so there are many examples of how businesses adapted in 2020. Demonstrating private equity and venture capital’s investment nationwide, the report includes stories from across the United Kingdom. Examples also stem from a wide range of sectors and business sizes.

Every company featured in the report adapted to the crisis on multiple fronts and were focused on more than just the obvious priorities of the business. Our report focuses on examples in the following key areas:

  • Community initiatives: where firms went above and beyond to support their communities, particularly in areas hard hit by the challenges bought on by the pandemic..

  • Team support: where firms found innovative and meaningful ways to look after their employees as they adapted to new and unusual ways of working..

  • Adapting business models: where firms were quick off the mark to ensure their expertise was used in a way that supported COVID efforts, important supply chains remained uninterrupted and challenges around provision of service were overcome.

Case study videos

All of the videos for this project were filmed virtually via Microsoft Teams, in line with the government guidance and social distancing restrictions in place at that time. You can view all of the full-length case study videos here .

In association with




Community impact
BVCA Summit



Team support
BVCA Summit



Business model adaptation

Private equity and venture capital firms were able to pool and share knowledge and learnings with companies across their portfolios to support these businesses to make key decisions in response to the pandemic.

Adjusting and adapting to the crisis continues, with businesses now facing the task of navigating the recovery period as we emerge from lockdown. The private equity and venture capital industry is well-placed to support these businesses, and we look forward to highlighting further examples of this in the coming year.

We would like to thank those who were involved in submitting case studies for this project.


Read the report here