Coinciding with the U.K.’s Black Tech Fest this week, a new executive education program has been launched to attract individuals seeking careers in the venture capital sector, with a particular focus on groups historically lacking representation – notably women, Black, Asian and other minority communities.

London Business School, in collaboration with LocalGlobe, a prominent European seed investor, has developed two new programs designed to deliver formal business training for a variety of roles within the venture capital landscape. The Newton Venture Program’s curriculum will encompass the complete range of investment positions within the venture ecosystem, including VC investors, limited partners, angel investors, accelerators, and tech transfer professionals. The programs are intended to enhance skills within the venture capital industry and expand the pathways for individuals to enter the field.

The courses will strive for an equal gender balance, aiming for 50% female participation, and will ensure that at least 50% of students identify as Black, Asian, or another minority group. These programs are open to both those new to the field and mid-career professionals.

Two cohorts will be offered annually, with a maximum of 60 students per cohort. The initial online program is scheduled to begin in April 2021, followed by the first on-campus cohort in October 2021. Applications are welcomed globally, although the majority of participants are anticipated to come from the U.K., the EU, Africa, and Israel.

The online-only program is priced at £2,050, while the in-person program at London Business School, geared towards mid-career professionals, costs £16,000. Scholarships covering up to 100% of tuition will be available for both program formats.

This initiative receives support through a grant from Research England, a component of UKRI, and the Newton program will actively seek additional funding from institutions and VC firms. LocalGlobe and Phoenix Court Works have pledged to sponsor 20 digital scholarships.

The program will provide participants with direct access to leading experts from globally successful VC firms, including a16z, Benchmark, USV, and others, as well as experienced entrepreneurs and their founding teams. Renowned academic authorities in the VC field – such as Luisa Alemany, Julian Birkinshaw, Gary Dushnitsky and Florin Vasvari – will deliver core concepts, facilitate case-study discussions, and share their latest research findings.

Experienced investors and ecosystem specialists will mentor participants on essential topics, including deal sourcing and negotiation, venture finance and legal considerations, fund management, and strategies for supporting portfolio companies. Students will also have opportunities to participate in industry roundtables, local networking events, and join the Newton Alumni network.

The on-campus program, featuring introductory and concluding sessions at London Business School, is designed for professionals with five to 15 years of work experience. It will include both current investors and individuals with strong operational backgrounds seeking to transition into investment roles. The curriculum will incorporate time spent at sponsoring VC firms, exposure to leading venture capital investors and limited partners, and engagement with tech transfer offices, accelerator programs, and other partners and sponsors. Each participant will receive personalized one-on-one mentoring and complete in-depth modules focusing on specific industries and technologies, ranging from fintech to artificial intelligence.

Data from Atomico’s State of European Tech report indicates that only 0.9% of European founders are Black. The broader IT sector also reflects a lack of diversity. According to the Chartered Institute for IT, in 2019, 268,000 IT specialists in the U.K. were from Black, Asian, and other minority ethnic backgrounds (BAME), representing 18% of the IT workforce – an increase of 2% since 2015 (from 16%).

Diversity.VC reported in 2019 that women comprised just 30% of the venture capital workforce. A 2019 report by the British Business Bank, UK VC Female Founders, revealed that less than 1p of every £1 of venture capital invested in the U.K. was allocated to all-female founding teams.

Lisa Shu, Executive Director of the Newton Venture Program (pictured above), stated: “To identify the next generation of globally significant tech companies, investors must better reflect the diversity of our society…The Newton Venture Program offers a pathway to train the next wave of investment professionals and broaden access to venture capital investing, incorporating a wider range of perspectives and experiences.”

Caroline Dinenage MP, Minister for Digital and Culture, commented: “Investors are crucial to the tech sector, providing both financial resources and guidance to help entrepreneurs realize their visions. It is essential that the sector mirrors society, not only because it is the right approach, but also because it fosters sound business practices. This new course is a positive step towards enhancing diversity and creating more opportunities for founders from all backgrounds to succeed.”