Extend Ventures Newsletter December'23: Our Year Recap

Charting Growth, Impact, and Future Frontiers: Extend Ventures' Year-End Recap of Scaling Entrepreneurs in the UK

Hello Extend Community,

2023 has been an exhilarating year for Extend Ventures as we've witnessed remarkable strides in scaling entrepreneurs across the UK. As the year draws to a close, we're excited to share the highlights of our journey, our impact, and our aspirations for the future with our incredible community. Here are some of our 2023 highlights:

Bringing The Extend Community Together

In September, we orchestrated an impactful gathering of over 100+ early-stage founders, investors, and community operators at the Curve Club for our Extend Community Event. Our goal was clear: to foster connections and engage in robust discussions on diversifying capital access for underrepresented founders across the UK.

Launching Diversity Beyond Gender Report!

In December, we proudly unveiled the much-anticipated Diversity Beyond Gender UK 2023 report. The report launch took place at the HSBC Innovation Banking HQ, where we presented our report's pivotal findings and had the honour of sharing the stage with Diversity VC, publishing The Equity Record UK report.

Here are some of the Diversity Beyond Gender UK 2023 report findings:

👉 From 2013- 2023, 11% of rounds went to Global Majority Heritage founders (Black, East Asian, Middle Eastern, and South Asian founders), compared to their representation of 18% in the UK population.

🚀 Surprisingly, Global Majority Heritage founders raised lower-value rounds, impacting their growth potential.

🎯 The mid-stage investment landscape (series A, B, and C) shows a greater underrepresentation of Global Majority Heritage founders—highlighting a crucial area that needs attention.

💡 There's a slight uptick in investment frequency for women founders over time, from 11% [2009-2019] to 14.5% [2013-2023]. However, the data underscores the continued underrepresentation of Black women founders, who secured only 0.14% of funding from 2013 to 2023.

The report is now accessible at https://www.extend.vc/reports.

This report has been made possible through the invaluable support of our report partner supporters: HSBC Innovation Banking, Local Globe VC, and Eigen Technologies.

We eagerly invite your insights and feedback on the report. Please share your comments and thoughts with us at info@extend.vc. Your input is invaluable as we strive for continual improvement and impact.

Community News

Applications for the Newton Fundamentals Program are open! If you want to break into venture capital early on in your venture career or work in a non-venture capitalist role, you will benefit from this programme.

The application deadline for Fundamentals is Wednesday, 10 January 2024, 17:00 UK time. Apply > https://newtonprogram.vc/fundamentals

Colourintech’s Founders Accelerator Programme 2024 is now open. The Colorintech Founders Accelerator Programme is a 12-week programme focusing on three core themes: Leadership, Revenue and Investment. The program is from March to May 2024. The first round application closes on 21st January 2024 at 11:59pm UK time. Apply via https://www.colorintech.org/build/build-accelerator

Excited For 2024!

2023 has been a chapter filled with growth, impact, and shared achievements. As we express gratitude for the support and engagement of our community, we eagerly anticipate the opportunities that lie ahead.

If you are interested in partnering with us, please feel free to email abi.mohamed@extend.vc

Thank you for being a part of our journey, and here's to a future filled with boundless possibilities! More news & opportunity will be shared in the new year.