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Also announced , BGF has been named the leading investor in female-led scaleup businesses last year , according to new research from the Scale-Up Institute . In 2020 , BGF investments were made into female-led companies in the fields of technology , clean growth , life sciences and retail . Through its network of nonexecutive directors and chairs , the largest of its kind in the UK , 11 women were also appointed by BGF-backed businesses to their boards in the same time period .

Analysis by the Scale-Up Institute has shown a phenomenal year-on-year increase in female founded scale-ups of 93 %, a 110 % increase in aggregate turnover and a 96 % increase in total employment .

BGF ’ s research follows last year ’ s announcement that Coutts , the private banking arm of NatWest , together with BGF , is set to launch The UK Enterprise Fund to bring additional funding and support to entrepreneurs across the UK . It will identify and address equity gaps across the whole of the entrepreneurial ecosystem , with specific initiatives and programmes for female-led businesses .

Stephen Welton , Executive Chair of BGF , said : “ The Scale-Up Institute ’ s analysis of the growth in female-led businesses shows significant process , and it is critical that the investment industry keeps pace . We recognise diversity is an asset and investors will miss out on an opportunity to back more high-potential businesses if femaleled companies are not better supported .

“ BGF has backed brilliant female entrepreneurs but there is more we need to do , which is why we ’ re taking part in initiative such as The Diversity Project and why we ’ re launching with Coutts , The UK Enterprise Fund . We won ’ t rest until we are investing in as diverse a group of founders as possible .”

Data from BGF ’ s report has showed that , on the whole , women are more inclined to be positive about their growth prospects than men , with 46 % saying that COVID-19 has presented opportunities for growth ( compared to 39 % of the men ).

Female respondents also showed a large degree of adaptability : six in 10 said that the pandemic has triggered permanent changes to their business models and female respondents were more likely than their male counterparts to be entering new sectors .

It appears that continued investment is seen as critical by female respondents . 89 % said their business had made some form of internal investment during COVID-19 , including digital infrastructure ( 39 %) and entering new sectors ( 35 %).

Jane Vinson , Head of Portfolio , South , at BGF said : “ We ’ re proud to be the most active investor in female-led companies but recognise that the figures themselves still remain small when compared to the rest of the portfolio .

“ We ’ ve seen remarkable resilience and innovation from the female founders we ’ ve backed and continue to meet more brilliant women in business who demonstrate these traits . This is just the beginning of our journey to ensuring the diversity of companies in our investment portfolio .” x

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