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The Patient Capital Review was announced by the Prime Minister in November 2016. The review, which was led by HM Treasury, identified barriers to access to long-term finance for growing firms.
The terms of reference set out that the review would:
consider the availability of long-term finance for growing innovative firms looking to scale up
identify the long-term root causes affecting the availability of long-term finance for growing innovative firms, including any barriers that investors may face in providing long-term finance
review international best practices to inform recommendations for the UK market
consider the role of market practice and market norms in facilitating investment in long-term finance
assess what changes in government policy, if any, are needed to support the expansion of long-term capital for growing innovative firms
This independent review, produced by a separate industry panel chaired by Sir Damon Buffini, outlines the key themes for the review’s consultation phase and provides a package of recommendations as part of a formal response to the review’s consultation, which have now been published. The members of the industry panel were: