A Handbook of UK Venture Capital Innovation - BVCA admin ...

InTRODUCTIOn
4
Foreword
Welcome to Britain’s Hot Talent 2010/2011: both a collation and a celebration of UK
venture capital. The inaugural edition of this handbook last year highlighted some 100
companies across eight sectors. This year almost 150 venture capital-backed portfolio
companies are included ranging across ten distinct areas of economic activity. This
expansion is a tribute to the diversity and dynamism of venture capital innovation in this
country despite what have been very challenging conditions in the past two years. This
edition also includes additional statistical information about the industry as a whole and
outlines the perhaps surprising geographical spread represented by these companies.
Although venture capital in Britain, as elsewhere, has its clusters, it can be found in
virtually every corner of the United Kingdom.
Almost everyone agrees that the British economy of the future has to be different
to that of the recent past. It will require restructuring to become less dependent on
a hitherto dominant financial services sector and more focused on the industries of
the future, many of which will be located in the high-tech, clean-tech and green-tech
arenas. There can be no coherent strategy for such an economic shift which does not
place venture capital at the heart of that endeavour. This handbook shows what can be
done.
The world of venture capital is ultimately about the power of new ideas. Ideas, however,
require investment if they are to realise their potential. As this document illustrates
there are already numerous examples of initially small ideas which have subsequently,
courtesy of venture capital, become very large, successful and socially valuable
companies. Britain needs more of this sort of innovation. The British Venture Capital
Association (BVCA) and its Venture Capital committee exist to enhance it.
This handbook will also, we hope, have practical applications for the reader. It should
be the source of personally useful information as well as professionally interesting data.
Thomas Edison declared that: “I find out what the world needs, then I proceed to
invent”. It is in the same spirit that we commend Britain’s Hot Talent 2010/2011 to you.
Richard Anton
Partner, Amadeus Capital Partners Ltd.
Vice Chairman
BVCA
t: +44 (0)20 7420 1800 e: bvca@bvca.co.uk w: bvca.co.uk
Simon Clark
Partner, Fidelity Growth Partner,
Chairman, Venture Capital Committee
BVCA