Brexit: New insights on implications for the early stage tech sector
David Kelnar
822

Hi David

Great blog.

Agree with everything covered in this informative and thoughtful article.

However, I think you may be under-estimating the extent that UK VC is dependent on the EIF as the UK’s largest LP. The figure we have from the EIF on the % that is EIF is higher than you report and more importantly the British Business Bank report that approximately 1/3rd of their balance sheet (£1 billion) is from (or via an agreed mandate) from the EIF and EIB.

This will probably need to be replaced when we leave the EU, nevermind the BBB losing access to future funds that come from the EIF/EIB.

Regional VC investment is even more dependent on EIB/EIF and ERDF funding.

I think therefore that it is vital that alongside easing/ simplyfying the VISA system that the tech sector strongly campaigns for the UK to remain a member of the EIB/EIF. Failing that we will need to find a hell of a lot more money, if VC’s are going to maintain the level of investment in the UK’s Tech start-ups.

I am confident and optimistic that this can be achieved if we start lobbying the government now. That is why we joined the Tech Together campaign led by Coadec.

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