Interim Evaluation of British Patient Capital
The 2017 HMT Patient Capital Review identified a major lack of long term investment in innovative firms led by ambitious entrepreneurs who want to build large-scale businesses in the UK, particularly when compared to the US. In response, the British Business Bank established British Patient Capital (BPC) as a wholly owned commercial subsidiary in 2018 to increase the supply of larger and later-stage finance to innovative firms. BPC has £2.5bn to invest in venture and venture growth funds, which is designed to unlock a further £5bn of institutional capital over a 10 year period.
SQW has been commissioned by the British Business Bank to evaluate BPC. The evaluation includes process, impact and economic evaluation to determine whether BPC has been successful in meeting its objectives and is likely to offer value for money.