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.
Enterprise Capital Funds interim evaluation report 2021 – infographic
Key findings from the report
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
The average size of an ECF is £47m
Total funding raised is £1.9bn
£4.5bn of equity funding raised by the ECF-backed firms
62% of fund managers supported went on to raise successor funds
‘Equity gap’ being tackled through increased levels of VC investment into UK early-stage companies
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
ECF-backed firms are estimated to have created almost 8,000 UK-based jobs
This generated £2.2bn in additional sales
Their turnover grew at an annual rate of 76%