How can we build a fit for purpose patient capital industry?

Dermot Campbell, CEO of Kuber Ventures, responds to the most recent Treasury consultation on supporting innovative businesses

The Treasury consultation, Financing Growth in Innovative Firms - known more commonly as the Patient Capital Review - has now been published, and Chancellor Philip Hammond has urged "everyone with an interest… to respond".

The backdrop to the review is the gap between Britain's record in creating a fertile environment for start-up businesses and its performance helping those companies that are ready to take the next step and, it is hoped, become substantial commercial or industrial operations. Put simply, Britain puts a huge amount of effort into helping start-up businesses, with the result that this is an area in which the country possesses a global leading edge. High-net-worth individuals (HNWIs) and other private investors have been encouraged into start-ups by generous tax breaks. In terms of raisin...