The British Private Equity and Venture Capital Association (BVCA) has formally adopted its new name of UK Private Capital, following approval from its members at its annual general meeting.

The association for the UK’s private capital industry, which spans private equity, venture capital and private credit, said the change reflected the growth and evolution of the sector.

It added that ‘UK Private Capital’ was a clear description of the 600 firms the association represents, aligning it with how the industry already talks about itself and supporting the association’s role in public policy discourse, research, and political engagement.

Furthermore, the association said the renaming reflected the next stage of its existing ‘Strategy 2030'.

The new name will support the association’s efforts to build on that approach in framing discussions about the industry.

This will be done by demonstrating the industry’s role in the real economy, setting out the ambitions of the sector, and emphasising the international connectivity of the asset class.

UK Private Capital highlighted that the change was a rename rather than a rebrand, with the association's mission, strategy, and visual identity remaining in place.

"The private capital industry has changed significantly since the association was founded more than 40 years ago,” commented UK Private Capital chief executive, Michael Moore.

“Our members now operate across a broad private capital landscape, backing growth, innovation and jobs across the UK. 

“Adopting the name UK Private Capital gives us a clearer platform from which to set out who we represent and to engage more effectively.

“Currently almost 13,000 companies, employing more than 2.5 million people, are backed by private equity and venture capital investment in the UK.

“As the sector has grown and matured, the old name has become harder to explain and often requires clarification with investors, media and policymakers.

“The new name removes that ambiguity and gives the association a clearer foundation from which to advocate for the vital importance of private capital investment for growth in the UK.”

UK Private Capital chair, Matthew Sabben-Clare, added: “We have consulted widely across private equity, venture capital and private credit members of the association and the investors and advisers to the industry.

“The board recommended this change to members because it is clearer, better reflects the industry and builds a platform for the strategy of representing the scope and diversity of the industry.”

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