Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps his Department is taking to help increase representation of (a) women and (b) minority ethnic founders in venture capital funding.

The Department leads on the Invest in Women Taskforce (IWT) and the Investing in Women Code (IWC). In November, the IWT launched a £255 million fund for female entrepreneurs, which will be invested through female investors in the UK, including backing female emerging fund managers. Signatories to the IWC diversify their investment committees and decision makers, recognising diverse leaders make better decisions.

In February 2025, a roundtable discussion was held with the finance industry, including Venture Capital representatives, to address access to finance issues for ethnic minority founders.

We have also launched a Call for Evidence on Small Business Access to Finance to help inform government policy and initiatives, which includes a specific focus on underserved entrepreneurs.