Invest in Women Taskforce Exceeds £250m Target with BGF's Commitment
Funding | Nov 25, 2024 | Business Growth Fund (BGF)
The Invest in Women Taskforce has successfully exceeded its £250 million target for capital raising, garnering support from a coalition of investors including Business Growth Fund (BGF), Barclays, M&G, British Business Bank, Morgan Stanley, the Visa Foundation, and Aviva. This coalition is committed to investing in female-founded and mixed-gender businesses in the UK, addressing the disparity in investment allocation where all-female founded businesses received only 1.8% of equity investment in early 2024. The announcement, supported by Chancellor Rachel Reeves, underscores the economic potential of female entrepreneurship, which could add £250 billion to the UK economy if parity with male-led business formation and scaling were achieved. A notable initiative within this effort is the Women backing Women fund to be managed by female investors, who statistically show a greater propensity towards investing in women-led enterprises, thus aiming to dismantle systemic barriers within the investment ecosystem. The launch of this fund, aimed at empowering female entrepreneurs and enhancing gender diversity, was celebrated at an event in London.
Sectors
- Private Equity
- Venture Capital
- Gender Diversity and Inclusion
Geography
- United Kingdom – The initiative is aimed at supporting female entrepreneurs within the UK economic landscape.
Industry
- Private Equity – The article discusses capital raising and investment initiatives led by Private Equity entities such as the Business Growth Fund.
- Venture Capital – Involves the investment into female-led start-ups and growth-focused companies, typically funded by venture capital firms.
- Gender Diversity and Inclusion – The focus on investing in women-led businesses highlights efforts to enhance gender diversity within economic and financial sectors.
Financials
- £250,000,000 – Overall funding target exceeded by the Invest in Women Taskforce.
- £25,000,000 – Contribution by Business Growth Fund to the Invest in Women Taskforce.
- £145,000,000 – Total equity investment value received by all-female founded businesses in early 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Invest in Women Taskforce | Initiator | Other | A coalition focused on funding female entrepreneurs in the UK. |
| Business Growth Fund (BGF) | Investor | Company | A leading investor in UK female-led businesses committing £25 million to the Taskforce. |
| Barclays | Investor and Supporter | Company | Part of the investment coalition backing female entrepreneurs. |
| M&G | Investor | Company | A major investor supporting the initiative. |
| British Business Bank | Investor | Government | A government-backed bank involved as an investor. |
| Morgan Stanley | Investor | Company | Investment bank joining the initiative. |
| Visa Foundation | Investor | Charity | Foundation focusing on economic equality, part of the investment group. |
| Aviva | Investor | Company | Insurance company investing in the project. |
| Rachel Reeves | Chancellor | People | Chancellor of the Exchequer, backing the initiative in her political capacity. |
| Debbie Wosskow | Co-Chair | People | Entrepreneur and Co-Chair of the Invest in Women Taskforce. |
| Hannah Bernard | Co-Chair | People | Head of Business Banking at Barclays and Co-Chair of the Invest in Women Taskforce. |
| Andy Gregory | CEO | People | CEO of Business Growth Fund, highlighting BGF's commitment to the Taskforce. |