BGV 2019 Impact Report

We’ve just published our annual impact and learning report for 2019. Some highlights include:

  • The portfolio achieved significant financial growth and scale of impact. Combined, our portfolio companies saw a 54% increase in revenues to £29.5m, and doubled their number of users to 12m. 
  • We made our highest number of follow-on investments in 2019 and supported our ventures in raising finance from both impact-focused and traditional firms. BGV ventures raised a further £16 million in 2019, bringing the total amount of additional investment raised by our portfolio to over £80m. 
  • In our team, 68.8% of employees identify as female (more than double the London VC industry average) and 31.3% of our team are from ethnic minority backgrounds.
  • BGV companies also exceed the UK tech sector average with regards to gender diversity. 46.5% of portfolio company employees identify as female, compared to the industry average of 19%. 
  • This year we aligned our impact methodology and portfolio reporting with the Impact Management Project (IMP), placing us in C6 of the Impact Management Matrix. 49% of our portfolio actively assess potential unintended consequences arising from their products, and  75% of those have developed ways to mitigate them. 

The report is based on data up to 31st December 2019 which seems like a long time ago now. But while things have changed radically because of coronavirus, they also haven’t changed at all. The social and environmental problems we’ve been trying to address are if anything more important and more evident. The megatrends that BGV is based on still stand:

  • More and more talented people will want to build products, services and companies to solve important social and environmental challenges.
  • More and more investors will want to put their money to work in line with their values.

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