The BVCA's role in supporting the next generation of VCs
As the BVCA celebrates its 40th birthday, Two Magnolias is honoured to reflect on its continued widespread influence and incredibly supportive culture. As Two Magnolias heads into its final close of its Fund 1, it is a real honour to be asked to discuss the pivotal role the BVCA has had in our journey and its leadership within the VC & PE Ecosystem. As Emerging Managers, Two Magnolias could not have accelerated its growth, development, and success without the central role that the BVCA has taken. The team has ensured we are networked and supported both in the form of international LP exposure but also provided us with a strong platform from which we can be heard. As one of a new cohort of ‘all-female’ GP led Impact funds, this has been one of our greatest challenges.
Through the BVCA’s brilliant leadership in research and its ability to take a holistic, yet arm’s length view on how capital flows through the UK ecosystem, the industry has been able to accelerate honest discussions on why the VC & PE ecosystem has been unable to direct significant capital to those from gender or ethnically diverse backgrounds. Although statistics remain challenged and extreme, the BVCA is relentless in its overt pursuit of equity and its team are to be applauded for their extraordinary energy they bring to this subject.
Two Magnolias Fund 1 has been structured to back exceptional early-stage founders who are building commercial solutions for today’s most pressing problems within the sectors of Sustainability and Human Health. Although we are inspired by those who have the strength and courage to develop solutions needed to extend the life of our planet and the positive existence of humanity within it, Two Magnolias is intentional in its mission to close the gaping equity gap that exists with underrepresented founders. Although at the very early stages of our investment journey, we are proud to see true equality within our portfolio companies.
It feels like the industry is on the brink of an exciting “NextGen” of diverse Venture Capital GP’s and investment teams who will create real change, and it is comforting that the BVCA will sit at the very heart of this shift with its open and collaborative approach.
This 40th birthday truly marks the beginning of a new age of Venture Capital. As an industry, we are now redefining the boundaries of influence. We have accepted the challenge to lift-up underrepresented founders. We insist on ensuring a strong bedrock of ESG, as well as D&I, being at the very heart of every single investment decision.
BVCA, we salute you!
Authored by Jessica Sue Rasmussen
Co-founder & CEO, Two Magnolias
