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We are seeing a developing industry shift from focusing solely on cost to embracing long-term value and truly recognising the win-win proposition that stands before both the Venture Capital and Pension industries. This evolution is increasingly evident in how Pension Schemes are beginning to approach their investment decisions. The move towards a Value for Money framework is a welcome development. This framework is less about comparing fees and more about understanding the quality of returns over time for savers who depend on these funds for their retirement. Such an approach is vital if we are to create a truly sustainable investment landscape. 

The issue of getting more UK pensions fund investment into private capital is one the BVCA has long championed. However, it has become something of a hot topic in recent years, with both the last and the current Government increasingly seeing that it's a conundrum that, if resolved, provides solutions to two challenges keeping them up at night: the lack of UK growth and a pending retirement crisis.

Amidst the ever-changing geo-political backdrop of tariffs and shifting policies, it is evident this new era brings opportunities, as well as challenges. And it positions the UK and Europe competitively on the world stage as an attractive market for investment and partnership.

Meghan Stevenson-Krausz, Co-CEO of Diversity VC shares her reflections on the newly published BVCA/Level 20 Diversity Report and gives her outlook on diversity from a VC perspective and takes a wider look at diversity initiatives that are needed to charter the path forward.

Suzi Gillespie, the BVCA’s Head of Research provides her perspective on the latest analysis published about the industry’s performance and reflects on what will impact private market conditions in 2025.

The BVCA’s recent Diversity, Equity and Inclusion (DEI) series of panel discussions focussed on how network-building, mentorship and risk-taking can accelerate women’s careers. Sustainability Executive, Breeze Haywood, reflects on the event’s discussion and the need for active engagement with diverse talent pools to drive innovation and address underrepresentation in the industry. 

The BVCA, in partnership with Level 20, recently released a report, Diversity in UK Private Equity and Venture Capital 2025, which shows an increase in the proportion of women working within the industry over recent years - but there is still more work to be done.

Engagement with our members throughout the UK’s nations and regions, and ensuring their voices are represented in our political engagement and technical policy work has always been a key BVCA priority.

Both the US and the UK boast four of the world’s top ten universities. However, nearly 70% of spin-out funding goes to the US, while just over 10% supports the commercialisation of UK spin-outs. This signals a significant amount of untapped potential in the UK.

The BVCA has revised its standardised documents for early stage venture capital investments, replacing the versions launched in February 2023. The updates in the new February 2025 versions are less material than the updates published in February 2023. Marriott Harrison LLP, who are part of the BVCA’s working group that have been revising the documents, have produced the following summary of key changes:

For over 30 years, Foundation, BVCA’s flagship training course has been the essential course for junior investment professionals. Led by renowned industry practitioners, it provides the fundamentals of private equity, using real life case studies to explore due diligence, deal structuring, transactions structuring, management assessment, exits, managing a portfolio and more.

Every February, the BVCA brings a delegation of leading UK private capital firms to meet institutional investors in three key cities (this year Toronto, Boston and New York) in North America to highlight the opportunities that exist across exciting investment strategies and sectors including fintech, life sciences, deep tech, business services and defence.

Private capital in 2025 is at a fascinating juncture. On the one hand, we see kind of normal cyclic ebb-and-flow dynamics that have characterised the industry from at least the 1950s. On the other hand, some ongoing changes seem to presage a more profound evolution of the sector.

This year, the BVCA’s Industry Development team attended IPEM in Cannes to connect with members and non-members from across the private capital industry, share insights, further understand industry trends, and represent the industry.

The UK venture capital landscape in 2025 is poised for significant growth, building on its position as the third-largest VC market globally and the clear leader in Europe.

The BVCA’s recent Diversity, Equity and Inclusion (DE&I) series of panel discussions underlined the importance of reframing neurodiversity as a strength and adapting workplace cultures to drive meaningful change. The BVCA’s Sustainability Executive, Breeze Haywood, reflects on the event’s discussion about critical need for businesses to embrace neurodiversity in the workplace.

After a challenging period for private equity, driven by the steepest interest rate hikes in two decades, 2024 has brought relief with the start of a monetary-loosening cycle.

Earlier this year, the BVCA hosted European Private Capital Conferences and Receptions in Tokyo, Seoul and Singapore, during which BVCA GP members engaged with nearly 100 institutional investors and family offices. The welcome and response was excellent. So much so that one comment from an LP has stayed with me ever since…”It’s great you’re here, but you should have been here 10 years ago.”