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Almost 200,000 jobs supported by private capital in Wales and South West England

Publish Date 30 Jun 2022
Categories Research
Wales and South West England are home to almost 200,000 jobs in businesses directly supported by private equity and venture capital, or around 10% of all jobs supported by the industry in the UK.
A further 370,000 jobs across these areas are indirectly supported by the private capital industry, through supply chains and related consumer spending.

These are just some of the findings of a new study from The Ernst & Young LLP (EY) QUEST (Quantitative Economics and Statistics) practice - commissioned by the British Private Equity and Venture Capital Association (BVCA) – which has found that the sector plays a vital role in the growth of the UK’s national and regional economies.

The study makes it clear that, despite the role of the industry coming under intense scrutiny in recent years following a series of high-profile transactions, it is a key player in supporting start-ups and growing businesses in emerging destinations for investment like Wales and the South West.

This is confirmed further by data from the BVCA, which found that its PE and VC members invested £920m into the South West (£795m) and Wales (£125m) in 2020 in to 56 and 58 companies respectively.

These are companies like:

  • Bristol’s Micrima, a healthtech start-up that began life in Bristol University, which has developed and commercialised a non-invasive breast imaging system using low frequency, non-ionising radio-wave (RADAR) technology.

  • Cardiff’s Momentum Bioscience, which builds ultra-sensitive, two-hour tests to detect the presence/absence of bacteria and fungi in blood.

  • Wellington’s MK Systems, which provides automatic test systems used in the aerospace, defence, rail, eVehicle and power sectors.

  • View the Wales and South West England factsheet

    BVCA Director General, Michael Moore, said:

    “Private equity and venture capital matter to our economy. We support 6% of all UK jobs – and have the potential to grow many more across our nations and regions. Private capital plays an essential role in the growth of regional economies, and is a vital partner to firms in Wales and the South West.

    “When a business backed by private capital succeeds, so do its investors and the community in which it is based. Growing businesses mean more jobs, more successful firms and more prosperous towns, regions and nations.”

    View the Wales and South West England factsheet

    Notes to editors
    1. View the one page fact-sheet containing the statistics and case studies relevant to Wales and the South West, here.
    2. Alternatively, you can read the full EY report, here.
    3. For further information on any of the above, please contact the BVCA’s External Comms Manager, Will English, on wenglish@bvca.co.uk

    About the British Private Equity & Venture Capital Association

    The BVCA, as the representative body for private equity and venture capital, connects institutional investors, fund managers, companies, advisers and service providers together, with our membership currently comprising more than 700 businesses from across the private capital ecosystem. This includes more than 325 PE and VC firms, 100 institutional investors and 220 professional services firms.

    Private capital drives growth – providing the funding, expertise and long-term view that enables companies to innovate and flourish. Our mission is to advocate the transformative nature of the private equity and venture capital community.