The BVCA reported that in 2023, 188,000 jobs in the North West were supported by private capital in addition to the 210,000 jobs that were indirectly supported through supply chains and consumer spending. To support the British Private Equity & Venture Capital Association (BVCA) bring this to life one of our Partners, Lucie Mills, has attended multiple events alongside the BVCA and fellow members, to demonstrate the benefit of private capital for the UK economy and the role it can play in driving growth across the UK.
In January NorthEdge participated in a roundtable at Number 10 Downing Street with Deputy Prime Minister Oliver Dowden. The core objectives of this meeting were to discuss private equity’s contribution to the UK economy and its role in driving entrepreneurship and growth.
In February, the BVCA and selected members gathered to speak with Andy Burnham, Mayor of Greater Manchester. Topics explored overcoming barriers to investment in the nations and regions and why Greater Manchester is a prime investment destination as the second largest hub for global investment in the UK.
Following this, Lucie also joined the BVCA in Leeds to meet with Rachel Reeves, Shadow Chancellor of the Exchequer. This discussion focused on how the industry can support economic ambitions and the importance of broadening pension fund access to private capital. Throughout, BVCA members highlighted the value of their work in supporting British businesses and deploying the £145 billion of dry powder capital that is available to be invested in the next 3-5 years.
Speaking on the events, Lucie Mills said: “It’s a privilege to represent NorthEdge in these important discussions. We recognise that as regionally-focussed investors we have a huge part to play in ensuring our industry can continue to contribute positively to our economy and society. We’re so proud of the number of national and international businesses that we have supported that are based in the UK regions, which is why we’re committed to using our voice; working alongside Government and Education; and delivering sustainable returns for our stakeholders – demonstrating the attractiveness and the power of the regions.”
Earlier this year, Lucie was also announced as Chair of the Responsible Investment Advisory Group (RIAG) for the BVCA. The group provides practical advice to its members in order to support them and incorporate ESG considerations into their business decisions.
The board comprises members including investors, intermediaries and sustainability or responsible investment practitioners recognised for their excellence, insights and ability to provide practical guidance to the BVCA.
Harriet Assem, Head of Sustainability at the BVCA shared her thoughts on the announcement of Lucie’s role: “The BVCA is committed to supporting its members to play a leading role in global efforts to eliminate the causes and combat the effects of climate change. We also recognise the increasing importance and relevance of ESG and Responsible Investment to private capital and our members. Key to our success, is the wealth of knowledge contained within our member ecosystem and committees. The Chairs of these committees are essential for their effectiveness – steering work on live issues, and leading discussions with ministers and decision makers on behalf of our members. We were therefore delighted to welcome Lucie Mills, from NorthEdge to join (from Sept 2023) and Chair (from Jan 2024) our Responsible Investment Advisory Group (RIAG).
“Prior to joining RIAG, Lucie had already shown herself to be an active BVCA member. She brings a wealth of knowledge and experience in ESG, and the challenges and opportunities the private capital community are facing as the sector advances its approaches both at the practical and regulation level. ESG is an evolving subject, with best practice only just emerging. Lucie has quickly built a reputation as a leading voice in this space, always contributing to the debate with insightful knowledge and practical experience. These skills mean Lucie will be a leader within the BVCA membership and we are looking forward to working with her as the next RIAG chair.”
Find out more about the Responsible Investment Advisory Group on the BVCA’s website, here.