Enterprise Capital Funds interim evaluation report 2021 – infographic

Enterprise Capital Funds interim evaluation report 2021

The British Business Bank commissioned Ipsos MORI to undertake an interim evaluation of the Enterprise Capital Fund (ECF) programme. This interim evaluation provides supporting evidence on the effectiveness of the ECF programme in meeting its objectives.

Key findings from the report

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The Enterprise Capital Funds programme is the largest domestic backer of Venture Capital funds in the UK
  • 665 companies supported from across 36 funds
  • Over £1.72bn committed to date

UK VC ecosystem strengthened emerging fund managers becoming established investors

£47m

The average size of an ECF is £47m

£1.9bn

Total funding raised is £1.9bn

£4.5bn

£4.5bn of equity funding raised by the ECF-backed firms

62%

62% of fund managers supported went on to raise successor funds

The majority of our fund managers agreed their fund would not have closed without support from the ECF programme

‘Equity gap’ being tackled through increased levels of VC investment into UK early-stage companies

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Our partners are more likely to invest at earlier stages than other VC investors in the market
  • Types of ECF investee companies:
    • 63% seed or start-up
    • 25% early-stage
    • 13% later stage

Enterprise Capital Funds have a significant impact on business growth

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ECF-backed firms are estimated to have created almost 8,000 UK-based jobs

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This generated £2.2bn in additional sales

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Their turnover grew at an annual rate of 76%

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Helped create highly skilled jobs with 51% of salaries in the top quartile of the UK (£37,000).