How do we solve the UK’s persistent scale-up capital conundrum and move from academic theory to commercial reality?

Host Susannah de Jager speaks with Pete Davies, Partner and Head of Developed Markets Strategy at Lansdowne Partners and co-founder of Oxford Science Enterprises (OSE). Pete shares his unique, contrarian perspective, spanning decades of experience in asset management and pioneering UK venture.

This episode delves into the linear evolution of deep tech commercialisation, from IP Group to the creation of OSE. Pete discusses the critical need to shift company formation from an "academic X has an IP" push to an industry problem-driven pull, noting that this process is now at a "sort of halfway stage".

The conversation also covers the importance of "magic" assets like the Oxford community, the exciting progress in areas like quantum computing, and how to fix the £100 million 'missing middle' of scale-up funding. With the UK seeing a 36% year-on-year rise in new tech incorporations, Pete explains why closing this capital gap is crucial for transforming the nation's medium-term economic growth prospects.

• (00:00) - Welcome to Oxford+
• (01:34) - Pete's Journey Back to Oxford
• (02:48) - The Evolution of Oxford Science Enterprises
• (03:59) - Future of Oxford's Innovation Ecosystem
• (07:48) - Quantum Computing: Oxford's Cutting-Edge
• (11:20) - The Magic of Oxford's Community
• (13:10) - Preserving Oxford's Unique Assets
• (14:15) - The Value of Oxford's Teaching System
• (19:41) - Challenges and Opportunities in UK Capital Markets
• (26:19) - Lansdowne Partners' UK Growth Fund

Pete Davies: Pete Davies is Partner and Head of Developed Markets Strategy at Lansdowne Partners. A rare investor known for his consistent yet evolving approach, he has helped refocus the firm to long-only and venture capital strategies, including the launch of a new UK Growth Fund focused on scale-up opportunities. Pete is a pioneer in UK venture, co-founding Oxford Science Enterprises (OSE), and is a leading voice in conversations demanding scale-up capital for the UK. He is also a former governor of the Wellcome Trust.

Connect with Pete on LinkedIn

Susannah de Jager: Susannah is a seasoned professional with over 15 years of experience in UK asset management. She has worked closely with industry experts, entrepreneurs, and government officials to shape the conversation around domestic scale-up capital.

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Oxford+ is hosted by Susannah de Jager and supported by Mishcon de Reya and Oxford North.

Produced and edited by Story Ninety-Four in Oxford.