Sovereign growth funds: BBB must ensure investment is directed correctly

Supporting early-stage investments

Louis Taylor, CEO of the British Business Bank (BBB), wants to plug the funding gaps for British companies by widening the BBB’s remit, and creating a sovereign growth fund.

While this announcement has been drowned out over the last few months, with the collapse of Silicon Valley Bank and UBS's takeover of Credit Suisse taking centre stage, it is important the BBB does plug the funding gap in the UK. The BBB and British Patient Capital (BPC), the BBB's venture capital arm, are in a strong position to call for something as radical as a sovereign growth fund. Earlier this year, BPC announced that it had created up to 5,000 additional jobs across the UK, driven company growth, and fuelled innovation through its investments. Fixed income in H1: 'Year of the b...