British Business Bank to spend £500m backing underrepresented entrepreneurs

Half going to female fund managers

UK government-owned British Business Bank has allocated £500m to bolster underrepresented entrepreneurs, £400m of which will go to investment fund managers from underrepresented backgrounds.

As part of the government's ‘Plan for Change', another £50m will go to female-led venture capital funds, doubling the British Business Bank's commitment to £100m. BoE warns UK growth outlook a 'little weaker and more uncertain' than it was in November Targeted at women, ethnic minorities, people with disabilities and those from deprived backgrounds, it will operate across three strategies. These are backing more diverse fund managers, investing more in supporting micro-funds, and backing partners to invest smaller amounts in talented individuals to build a track record without persona...