In progress
The Talent Funds application process is designed to be clear and proportionate, while retaining flexibility to reflect the nature and ambition of each proposal.
The process is competitive and consists of the five stages outlined below. Progression at each stage is subject to assessment and does not imply a commitment by the British Business Bank to invest. While the stages provide a standard framework, aspects of the process may vary to reflect the specific characteristics of individual proposals.
Stage 0: Initial Contact
Applicants should complete the Enquiry Form at the end of this guidance document after they have read the information contained. If the proposal is a potential fit, a short Initial Call will be held with at least two members of the Development Equity Funds team.
Calls between applicants and the Development Equity Funds team are typically virtual (using Microsoft Teams) at the beginning of the process and may transition to in-person meetings as proposals progress.
The purpose of the Initial Call is to gain a high-level overview of the talent fund proposal, discuss eligibility, and highlight any red flags, issues or concerns at an early stage.
Following the Initial Call, proposals may be rejected or, if the proposal is still deemed to be a potential fit, it may be followed by an in-depth Guidance Call to deepen the team’s understanding. The Guidance Call will be used to explore the proposal in more detail and determine if the proposal is ready to be presented to the wider Development Equity Funds team.
Following the Guidance Call, Prospective Managers may;
- be invited to an Pitch Meeting;
- have their proposal rejected; or,
- be issued with feedback with the opportunity to address this feedback and re-engage with the Development Equity Funds team.
Stage 1: Pitch Meeting
Applicants are invited to present their proposal in full to members of the wider Development Equity Funds Team in an Pitch Meeting. Applicants should provide a Pitch Deck to the Development Equity Funds Team. Following the Pitch Meeting, applicants may:
- be invited to a further meeting
- have their proposal rejected or,
- be issued with feedback with the opportunity to address the feedback and re-engage with the Development Equity Funds team
Stage 2: Follow-on Interactions
Following the completion of Stage 1, applicant’s responses to feedback following their Introductory Meeting will be evaluated by the Development Equity Funds team. Following this review:
- a call may be held to discuss the feedback;
- further feedback may be issued;
- another meeting may be arranged; or,
- a proposal may be rejected.
These further interactions may delve into certain aspects of a proposal as Development Equity Funds team assess it against the Assessment Criteria and against other proposals in their pipeline. An updated pitch-deck or more detailed documents may be requested.
There may be several rounds of feedback, calls, and meetings before the Development Equity Funds team feels a proposal is ready to progress to Due Diligence. Even after multiple interactions, proposals may still be rejected.
Stage 3: Due Diligence
Those that progress to Due Diligence will be invited to complete the Due Diligence Questionnaire (DDQ) and populate a Data Room. Following assessment of this information, a proposal may be rejected, further feedback given, or presented to our Investment Committee.
Stage 4: Investment Committee
The Development Equity Funds team formally present the proposal to the British Business Bank Investment Committee. If successful, the British Business Bank will formally commit an award to the applicant. Any approval is subject to final terms being agreed and all relevant conditions being met.
Stage 5: Legal execution and commitment
Once approved at Investment Committee, applicant will receive an Offer Letter from Investor Pathways Capital.
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