Private capital leaders sit down for roundtable with West Midlands mayor

A delegation of senior figures from the world of private equity and venture capital came together recently to discuss how to unlock greater investment in the West Midlands economy.

They shared the roundtable, convened by the British Private Equity and Venture Capital Association (BVCA), with the authority’s new mayor, Richard Parker.

Investors and businesses including Mercia and LDC talked through how to improve the skills of the local population and increase the number of high quality, well-paid jobs.

The group also considered reforms to the planning system which would increase investment into local businesses.

The private capital industry invested £300 million in the West Midlands in 2023, supporting 285,000 jobs across the region.

Much of this investment was directed to businesses in biotech, healthcare and consumer goods and services.

Michael Moore, BVCA chief executive, said: “Private capital plays a key role in bringing investment to every nation and region.

“Last year alone, the industry invested £115 million in biotech and healthcare businesses in the region, helping our nation become a science superpower and progressing the ways in which we develop innovative medical treatments.

“The economic impact could be even more significant if industry and government can work together to address some of the barriers to investment.”

Richard Parker, mayor of the West Midlands, added: “My approach is all about delivery. We need to make the West Midlands the best place in the UK to do business.

“We want to support local entrepreneurs and businesses access the capital they need to scale-up and thrive.”