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Research
The State of Asian Funding UK is the first study of how venture capital reaches Asian-heritage founders in Britain. Built on Beauhurst round data and a survey of founders in our community.
2025 edition
A baseline the community can use to focus attention and guide policy. Backed by HSBC Innovation Banking, Joelson, Mercia and Tech Nation.
The headline numbers
22.0%
of UK funding went to teams with at least one Asian founder
7.2%
went to teams where every founder is Asian
0.1%
went to teams where every founder is an Asian woman
79.9%
of funding to all-Asian teams went to London businesses
12 of 51
companies raising over £50m had an Asian cofounder
33.3%
of founders surveyed named cultural bias as a barrier to raising
Beauhurst round data, April 2024 to March 2025, covering 1,323 UK companies that raised £500k or more. Survey of 48 founders, Q2 2025.
Asian-heritage founders are on the teams that raised 22.0% of UK venture capital between April 2024 and March 2025, against a population share of around 10%. Narrow the definition to teams where every founder is Asian and it falls to 7.2%. Narrow it again to teams where every founder is an Asian woman and it is 0.1%.
| At least one Asian founder | 22.0% |
|---|---|
| All founders Asian | 7.2% |
| All founders Asian women | 0.1% |
All-Asian teams took 9.7% of funding at £50m and above, and 5.1% at £500k to £5m. The low point is £5m to £20m, at 3.8%.
| £500k to £5m | 5.1% |
|---|---|
| £5m to £20m | 3.8% |
| £20m to £50m | 6.1% |
| £50m and above | 9.7% |
79.9% of funding to all-Asian founding teams went to London businesses, against a national average of 62.2%. Teams with at least one Asian founder sit at 69.4%, in line with everyone else. The concentration is specific to all-Asian teams, not to Asian founders.
| All-Asian founding teams | 79.9% |
|---|---|
| At least one Asian founder | 69.4% |
| All UK companies | 62.2% |
63% of founders surveyed met their investors through personal or professional networks. 18% through cold outreach, 11% at events and pitch days, 4% through an accelerator or incubator, and 4% by other routes. Access to capital runs through relationships that most first-generation founders start without.
| Personal or professional networks | 63% |
|---|---|
| Cold outreach | 18% |
| Investor events and pitch days | 11% |
| Accelerators and incubators | 4% |
| Others | 4% |
57 pages covering the funding landscape, a spotlight on Asian women founders, founder sentiment, and recommendations for government.
