BIA responds to BVCA’s recommendations on increasing pensions investment

Steve Bates OBE, CEO of BIA in response to the BVCA’s Pensions and Private Capital Expert Panel recommendations on increasing pensions investment in fast-growing businesses: 

“The UK life science industry welcomes the continued commitment of the Pensions & Private Capital Expert Panel to find practical ways to enable UK pension funds to back Britain’s high growth sectors. The Labour government has identified life sciences as a priority industry for its growth mission but data from the British Business Bank shows that the UK under-invests in this key growth opportunity more than any other sector when comparing our venture capital ecosystem to the US. As BIA and now the Expert Panel have highlighted, we can learn from international examples of best practice like France’s Tibi scheme to see how the UK can channel our national wealth into future economic growth that benefits all.    

“Given the specific capital needs and business model in life sciences, it is likely that we will need a sector specific vehicle to link our expert life science investors, high growth companies and pension fund asset allocators. The BIA is convening leading players to develop this at pace and looks forward to working with the financing ecosystem and the UK government to bring it to fruition.”