This report has been produced by the British Private Equity and Venture Capital Association (BVCA) to demonstrate the returns generated for investors by our members to 31 December 2022. The statistics in this report are the results of the BVCA’s Performance Measurement Survey, an annual survey of fund level cash flows and valuations collected from our members.
With a significant presence in the UK, developed over the past 40 years, private equity and venture capital funds provide companies with the finance and know-how to deliver sustainable business growth.
Active ownership, over the medium to long term, delivers economic and social value to those involved in the businesses (from employees, management and owners on the one hand, to customers and suppliers on the other) and a wide group of stakeholders (from local communities and local and regional economies, to national policy makers focused on issues such as climate change, diversity, equity and inclusion and social issues).
Both private equity and venture capital firms are focused on delivering sustainable growth for the companies in which they invest: venture capital funds typically support early stage and younger companies, holding minority stakes in the businesses, while private equity funds typically acquire controlling stakes in more established businesses.
The Performance Measurement Survey looks at funds which invest in businesses at all stages of the growth lifecycle – from venture capital funds specialising in start-ups to large buyout funds investing in global corporations. We at the BVCA, firmly believe that private equity and venture capital funds are an exciting and attractive investment opportunity for pension schemes and other investors and the results of this survey show us why.
In 2022 we received responses from 105 members out of a total eligible pool of 136 members, a response rate of 77%. For comparison, in 2021, 114 members out of a total of 164 who were eligible responded to the survey.
A summary version of this document can be found in the Performance Measurement Survey Highlights brochure.
For those who wish to explore the data further, we have made the data tables in this report available for download on the BVCA website here, in excel format. We hope this will prove a valuable resource for industry participants, researchers and others wishing to find out more about the performance of private equity and venture capital funds.
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