The gender gap and minority representation at U.K. private equity and venture capital firms slightly improved in 2024, with women now holding 27% of investment roles, a new report said.
According to a report published by diversity-focused nonprofit Level 20 and the British Private Equity and Venture Capital Association, 24% of investment roles were held by women in 2023. Further, women now hold 15% of senior investment roles, up from 12% in 2023.
In 2024, 18% of investment professionals in the U.K. were Asian, Black or other ethnicities, which is in line with U.K. national averages and is up from 17% in 2023.
The research included data from over 14,000 individuals. The report does not collect data for characteristics such as sexual orientation.
The report also features new data points not collected for previous editions, including representation within investment committees, where women account for 16% of positions, and in GP-nominated board seats, where women account for 19%.
Individuals identifying as white made up the majority of the workforce, representing 80% of the individuals in the study — a small decrease from 2023, at 82%. Asian individuals comprised 11%, while the Black/African/Caribbean and mixed/multiple and other ethnic groups accounted for between 2% and 4% each.
“This report provides a robust, consistent data set, which can be used to track change and progress," Michael Moore, chief executive of the BVCA, said in a news release accompanying the report. "The industry has made improvements in its representation in recent years, but it still has a long way to go, particularly at senior levels.”
The report also showed that the U.K. is a leader in Europe, behind only France and Sweden, when looking at the total representation of women in investment teams.
