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This report makes a series of recommendations about how to increase the amount of capital invested in high potential sectors, including those identified in the Government’s 10-year industrial strategy.

This report estimates the current direct economic activity of UK companies supported by private equity and venture capital firms within the UK economy in 2025. This provides a snapshot of the direct economic footprint of activity supported by private equity and venture capital investments - as measured by employment, employee earnings, and gross domestic product (GDP) in 2025. 

UK Private Capital's latest Annual Review highlights the wide-ranging issues the association has addressed on behalf of the industry over the past 12 months, as well as detailing how the BVCA has supported the development of the industry through events, training and other activities.

Growth is the biggest challenge facing the UK economy, and the Government has made it clear that private investment will be important to setting a new trajectory. The Investment Commission, established by UK Private Capital and Public First, sets out exactly what it will take for the Government to attract more of that capital to stay here in the UK.

The private equity and venture capital (private capital) industry is a key partner for driving UK economic growth. Already backing businesses that contribute 6% of UK GDP, the industry has a stock of £145bn that is expected to be invested in the next 3-5 years. If we can attract this capital to the UK, we can drive economic growth.

This Annual Review reflects on the past membership year, capturing the issues UK Private Capital has addressed on behalf of the industry, which are complex and wide-ranging, along with how we supported the industry via events, training and other activities.

This report, produced by The Ernst & Young LLP QUEST (Quantitative Economics and Statistics) practice and commissioned by UK Private Capital, estimates the current economic activity of, and related to, UK companies supported by private equity and venture capital firms within the UK economy in 2023.

This Annual Review reflects on the past membership year, summarising the policy engagement, proprietary research, events, and other activity that UK Private Capital conducted to support you and fellow members.