At the launch of NatWest Venture Banking in London, founders and venture capital investors came together to explore why the UK remains a strong place to build and back high‑growth companies.

Founders are navigating longer development cycles, tighter funding and greater scrutiny around profitability and resilience. Investors, meanwhile, are prioritising execution quality and sustainable value creation over growth at any cost.

The message was clear: while the tools and timelines of company‑building are shifting fast, the fundamentals of value creation remain the same.

Partnering for the founder journey

A central theme of the evening was that innovation does not thrive in isolation. It depends on patient capital, deep sector expertise and long-term partners who understand the realities of growth - from early ideas through to global expansion.

High-growth businesses often outpace the financial partners that supported them early on, just as operational and international complexity increases. Venture Banking has been designed to address that gap.

Jenny Edwards, Head of Venture Banking at NatWest, outlined an ambition grounded in partnership and continuity.

“The UK ecosystem deserves more. There’s world-class research, universities and talent here. NatWest has a long history supporting innovation – from accelerators and university partnerships to Open Innovation and wealth management.

“When a founder walks in our door, they’re not just meeting one team - they’re meeting the whole firm. Venture Banking brings it all together, with a clear focus on what the ecosystem needs.”

To explore how founders and investors are responding to rapid change in technology, talent and global opportunity, leaders from across AI, fintech, life sciences and venture capital shared their perspectives.

This discussion features insights from:

• Shamillah Bankiya, Partner, Dawn Capital
• Elena Moneta, Investor, Balderton Capital
• John Baker, CEO, IMU Biosciences | Immune Powered Precision Medicine
• Nicky Goulimis, Co-Founder and CEO, Tunic Pay
• Seb Johnson, Founder, Scaling Europe (Host)

Eligibility criteria and T&Cs apply. Finance is subject to status. Security may be required. Product fees and charges may apply.

Investor expectations have become more selective, but not less ambitious. Capital continues to flow toward teams that demonstrate strong fundamentals, credible paths to profitability and clear product-market fit.

In this environment, focus and operational discipline are increasingly rewarded.

AI was a major part of the discussion, but not as a shortcut to success. Founders and investors agreed that while AI is reshaping productivity, decision-making and speed to market, it is no longer a differentiator in its own right. Instead, it is seen as an enabler of better business models and more capital-efficient growth.

As Nicky Goulimis, Co-Founder & CEO of Tunic Pay, put it: “In the age of AI, the real question is not just whether you use AI, but whether you have a genuinely defensible underlying data and modelling asset.”

Despite rapid technological change, the underlying expectations placed on founders remain consistent.

Shamillah Bankiya, Partner at Dawn Capital, highlighted how speed has become even more critical: “Dawn has always moved quickly on the deals we want to do – but with the pace of AI, that urgency is now even more pronounced.”

Shorter innovation cycles are changing how both founders and investors think about risk and opportunity. Markets are moving quickly, product lifecycles are compressing and long-term forecasting has become more difficult.

Elena Moneta, Investor at Balderton Capital, noted: “Innovation cycles have become so short that predicting what a market will look like even in two to three years has become incredibly difficult.”

Rather than lowering expectations, this uncertainty has raised the bar. With barriers to entry falling, differentiation increasingly comes from execution, adaptability and depth of insight.

“While the barrier to entry has fallen, the bar for what a great company looks like has risen significantly,” Elena said.

From early-stage venture rounds to public markets, panellists observed a convergence in expectations around clarity, delivery and customer value.

Regardless of geography or funding stage, companies that cannot articulate clear priorities and consistently execute struggle to progress.

John Baker, CEO of IMU Biosciences, was clear: “If you don’t have absolute clarity on your priorities and how you deliver value to customers, there is no conversation.”

While tactics and pace naturally change as businesses grow, the core disciplines remain constant.

“The fundamentals are exactly the same whether you’re talking to public markets, private equity or venture capital,” John added.

The discussion also reflected the increasingly international nature of venture capital. Rather than competing in isolated markets, founders are navigating a more connected funding landscape, where capital, expertise and opportunity flow across borders.

Shamillah Bankiya highlighted the consistency of expectations: “The bar is the same across every business. It’s about identifying a deep, unsolved customer problem and executing exceptionally well.”

She also encouraged founders to look beyond domestic markets earlier in their journey. “We should think of the world as a single orbit, where founders get the best investor and fund at the best time for them.”

The UK continues to produce global leaders across AI, fintech and biotech, underpinned by deep technical and research-led talent. Retaining and motivating that talent during scale-up phases was seen by panellists as critical.

Expectations around productivity and profitability are rising, with investors looking beyond headcount growth to metrics such as Annual Recurring Revenue per Full-Time Equivalent employee.

Europe is increasingly seen as a vital engine for deep-tech innovation, particularly in areas such as resilience, energy and defence.

While some sectors remain capital-intensive and slower to scale, investors see long-term opportunity in businesses tackling structurally important challenges.

US capital remains plentiful and fast-moving, especially in AI-led sectors, and is increasingly flowing into Europe. Rather than displacing local funds, this trend is driving more blended, cross-border investment partnerships.

Looking ahead, success was framed not just in terms of exits, but ecosystem impact.

The conclusion from the evening was clear and optimistic: the UK has the talent, ambition and institutional support to remain globally competitive.

By aligning founders, investors and long-term partners around sustainable growth, innovation can continue to translate into long-term value - for businesses, investors and the wider economy.

Learn more about Venture Banking

Read our latest snapshot of the UK venture market in 2026, which explores the scale-up funding gap and how to bridge it.