The British Business Bank has unveiled a new Open Office Hours initiative for emerging or potential female investors considering making an application to one of the bank’s equity programmes.
The Emerging Female Investor Open Office Hours initiative aims to offer an open and informal space for emerging or potential female investors and is open to female angels, general partners and fund managers.
The British Business Bank is keen to grow the pipeline of female investors applying to its programmes, in light of recent figures that revealed just 2p of every £1 invested in venture capital funding in the UK goes to female-founded businesses.
With this new initiative, the bank aims to give potential or emerging female investors the tools and insights to better understand the bank’s programme requirements and make it easier for new entrants to break into venture capital.
The initiative will deliver pre-application drop-in sessions, connecting potential or emerging female investors with members of the bank’s equity teams, enabling them to seek clarity on the process ahead of entering the programme’s formal application funnel.
Sessions will be held remotely to ensure all potential or emerging female investors can access the office hours, regardless of where they might be based.
“By offering an open and informal space, we want to give emerging female talent the tools and insights to succeed and make it easier for new entrants to break into venture capital,” said Christine Hockley (pictured), managing director and co-head of funds at the bank.
“There are still many barriers to be tackled, but the British Business Bank is committed to growing the pipeline of new female investors applying to its programmes.
“We are in a unique position in the market to offer funding, as well as tailored, non-financial support to help improve access to finance.”
The bank previously committed to supporting the aims of the Invest in Women Taskforce by investing £50m into female-led funds through its existing programmes.
It has also recently established a majority female ‘Invest in Women Committee’ to advise on how this capital is allocated.
It is also a founding signatory of the Investing in Women Code, a government-led initiative in response to the Rose Review’s findings that a lack of funding was one of the most significant barriers to women seeking to effectively scale a business.
The Code, which seeks to support the advancement of female entrepreneurship in the United Kingdom, has over 250 signatories.
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