BVCA Podcast

The BVCA Reflections series marks the 40th anniversary since the BVCA was established as the trade association for the UK private equity and venture capital industry. During this series, we will be talking to industry leaders from today and previous decades as we reflect on how the industry and the BVCA have evolved.

In episode 5 of the BVCA’s 40th anniversary podcast series, the BVCA’s Senior VC Manager, Chris Elphick, talks to Christoph Ruedig, Partner at Albion VC, Kerry Baldwin, Managing Partner at IQ Capital, and Stephen Nundy, Partner & CTO at Lakestar, about the outlook for venture capital and the broader tech ecosystem in 2024.

Covering off the shocks and difficult market conditions seen in 2023, the guests consider how the market will play out going forward, with tips for founders and investors looking to raise in a difficult market, the central importance of board governance, the increasing role of government, and the potential impact of BVCA initiatives such as the Investment Compact.

Running order:

• 00:00 – Intro
• 02:01 – Key developments from 2023
• 09:18 – 2023 was the year of AI, what sectors will take off in 2024?
• 12:40 – How to support founders going through a down/flat round
• 18:49 – The outlook for venture – green shoots or more pain?
• 21:09 – Addressing the scale up gap
• 23:50 – Where will exits come from?
• 28:20 – How to exit at speed in a tough market?
• 33:40 – Will fundraising be easier in 2024?
• 36:43 – Advice for emerging managers
• 39:16 – The policy landscape in 2024
• 43:00 – The impact of the Investment Compact
• 46:54 – Closing remarks

This episode of the BVCA podcast is hosted by Chris Elphick, Senior VC Manager at the BVCA.

Chris’s guest for episode 5:

• Christoph Ruedig, Partner at Albion VC
• Kerry Baldwin, Managing Partner at IQ Capital
• Stephen Nundy, Partner & CTO at Lakestar

In our latest podcast, our panel explores the main themes of the new study, prepared for the BVCA by EY. This includes the economic contribution of private equity and venture capital to the UK, the value private capital investment brings to our country, for both people and the economy, and differing outside perceptions on the industry.

The BVCA podcast is designed to keep you informed on the issues we are addressing on behalf of the industry, the issues most important to LPs and GPs right now, and give you insights into how the world of private equity and venture capital meets the world of politics, policymaking and the media too.

The BVCA podcast is presented by Leon de Bono, Assistant Director General of the BVCA.

Leon’s guests for episode 4:

• Michael Moore, Director General, BVCA
• Sara Rajeswaran, Director of External Affairs

The BVCA Reflections series marks the 40th anniversary since the BVCA was established as the trade association for the UK private equity and venture capital industry. During this series, we will be talking to industry leaders from today and previous decades as we reflect on how the industry and the BVCA have evolved.

In this first episode, BVCA Chief Executive, Michael Moore talks to Charlie Troup, BVCA Chair 2022-23 and Managing Partner of Duke Street, to discuss his reflections on 2022, leading the Association as BVCA Chair.

Running order:

• 00:00 – Intro
• 01:18 – How the industry has changed
• 03:06 – Reasons for becoming BVCA Chair and priorities for the year
• 05:50 – The transparency agenda
• 06:50 – ESG, more to do as an industry
• 08:45 – The importance of case studies
• 10:00 – Access to DC pensions
• 11:06 – The industry after the pandemic
• 13:26 – The importance of political engagement
• 14:28 – Memories and achievements from the year as Chair

This episode of the BVCA podcast is hosted by Michael Moore, Chief Executive of the BVCA.

Michael’s guest for episode 1:

Charlie Troup, Managing Partner, Duke Street, and BVCA Chair 2022-23

The BVCA Reflections series marks the 40th anniversary since the BVCA was established as the trade association for the UK private equity and venture capital industry. During this series, we will be talking to industry leaders from today and previous decades as we reflect on how the industry and the BVCA have evolved.

In episode 3, BVCA Chief Executive Michael Moore is joined by BVCA’s Director of External Affairs, Karim Palant and Head of Research, Suzi Gillespie to discuss the launch of the BVCA’s latest Report on 2022 Investment Activity; Private Capital: rising to the challenges of turbulent times.

Running order:

• 00:00 – Intro
• 00:41 – Background on the report, BVCA’s output and the significance to the industry
• 02:09 – Economic turbulence in 2022
• 03:20 – 2022 Private capital headline figures and data
• 04:27 – Regional and national spread of investments outside of London and the Southeast
• 06:30– Investment focus on technology
• 08:02 – Private capital’s focus on climate change solutions
• 09:58 – Building the economy of tomorrow
• 14:30 – Follow-on investments to build successful businesses
• 17:25 – Dry powder: Committed but not yet invested capital

This episode of the BVCA podcast is hosted by Michael Moore, Chief Executive of the BVCA.

Michael’s guest for episode 3:

• Karim Palant, Director of External Affairs, BVCA
• Suzi Gillespie, Head of Research, BVCA

The BVCA Reflections series marks the 40th anniversary since the BVCA was established as the trade association for the UK private equity and venture capital industry. During this series, we will be talking to industry leaders from today and previous decades as we reflect on how the industry and the BVCA have evolved.

In episode 4, the BVCA’s Head of Sustainability, Harriet Assem, is joined by Maria Carradice, Managing Director, Specialist – Environmental, Social and Governance at Mayfair Equity Partners, Eimear Palmer, Global Head of ESG at Pantheon, and Maggie Loo, Partner at Bridges Fund Management, to discuss how private capital is well placed to help SMEs to decarbonise, invest in technological solutions to combat the climate crisis and plug the investment gap needed to help the UK meet its Net Zero ambitions.

Mindful of the upcoming COP28 Conference, speakers also outline their policy wish lists to unlock capital and investment opportunities in the Net Zero space, whilst also creating financial returns for investors.

Running order:

• 00:00 – Intro
• 02:36 – Net Zero, does it represent the growth opportunity of the 21st century?
• 08:06 – Access to capital and why Net Zero is so relevant to private capital
• 13:44 - How will net zero affect standard businesses
• 16:21 – How is private capital helping the businesses it invests in to decarbonize and invest in the technological solutions of tomorrow
• 20:20 – The development of ESG scorecards
• 26:08 – Practical guidance and initiatives emerging to help private capital firms (including ICi)
• 28:30 – What the policy and investment landscape needs to look like to unlock opportunities for private capital

This episode of the BVCA podcast is hosted by Harriet Assem, Head of Sustainability at the BVCA.

Harriet’s guest for episode 4:

• Maria Carradice, Managing Director, Specialist – Environmental, Social and Governance, Mayfair Equity Partners
• Eimear Palmer, Global Head of ESG, Pantheon
• Maggie Loo, Partner, Bridges Fund Management