Diversity in UK Private Equity and Venture Capital 2025 Report
The BVCA, in collaboration with Level 20, has continued its commitment to gathering data on female representation within the private equity and venture capital industry. Starting with a focus on Women in Private Equity in 2018, and following up with studies in 2019, 2020/21 and 2022/23, the latest research - conducted in 2024/5 - provides the most current insights into diversity within the sector.
The 2024/25 study builds upon previous analyses by once again examining the representation of women and people from different ethnic backgrounds working in private equity and venture capital firms. This latest iteration not only tracks changes since the 2022/23 report but also incorporates updated UK office gender data alongside the latest Level 20 European data. The findings continue to highlight the UK’s standing in comparison to other countries, showing progress in some areas while underscoring the need for further improvement.
Key findings from the 2024/25 study reveal steady gains in the proportion of women in senior, mid, and junior-level roles, although growth at senior investment levels remains gradual due to the apprenticeship nature of the industry. The report includes actionable recommendations, supported by focus group discussions, to drive further transparency and promote meaningful change.
The BVCA and Level 20 remain dedicated to monitoring progress in diversity within private equity and venture capital industry, ensuring that ongoing efforts are informed by the most recent data and industry insights.
Key findings:
- In 2025, 27% of UK-based investment professionals are women, up from 24% in 2023.
- Women now hold 15% of senior investment roles, up from 12% in 2023.
- 18% of investment professionals in the UK are from an ethnic minority group, in line with UK national averages.
- The UK is behind only France and Sweden when looking at representation of women in investment teams across Europe.
- Across seniorities, venture capital records better female representation than private equity.
