British Business Bank backs 10 microfunds with £90M, with most GPs women or from ethnic minority backgrounds — TFN

The British Business Bank is investing up to £90M in 10 first-time venture capital managers through its new Investor Pathways Capital initiative.

Over half of the general partners are women, and 43% come from ethnic minority backgrounds. These numbers are unusually high in an industry where both groups are still underrepresented.

The group includes what is said to be the first Black-led venture capital fund in the UK and across Europe, focused solely on consumer brands, as well as a fund that supports immigrant founders at their first institutional investment.

The British Business Bank is backing 10 first-time venture capital fund managers with up to £90 million, creating a group that stands out in the UK investment scene. More than half of the general partners are women, and 43% are from ethnic minority backgrounds. This level of diversity is uncommon at this scale in an industry still led by a narrow group.

These funds are the first investments from the Bank’s £400m Investor Pathways Capital initiative, which aims to make institutional venture capital more accessible to underrepresented managers.