Coffee Chat with Linzi Plant, Technology Investor at Development Bank of Wales

In this coffee chat Linzi tells us about her experience in working with the Driverly leadership, as well as her general observations on the gender gap in the early-stage tech sector.  

Tell us a little about yourself and your background please.

Following a PhD in Biomedical Sciences and some further research work, I moved into corporate injury rehabilitation management and medical innovations strategy. My interest in stakeholder engagement, fund management and business operations led to my appointment as Head of Strategic Planning and Operations for University of the Arts London (UAL), where the creative environment aligned with my personal passions. I stayed in the Creative Industries working for London based School for Creative Start-ups in early-stage debt investment; supporting founders with business and financial planning, commercialisation, marketing and mentoring. 

Prior to joining the Development Bank of Wales as a Technology Investor in the seed and pre-seed space, I worked for CEDAR (Centre for Healthcare Evaluation, Device Assessment and Research) in collaboration with the Welsh Value in Health Centre, going back to my life science roots and giving me an insight into value-based healthcare and the route of medical innovations into NHS Wales.  

Based at the Development Bank’s Cardiff office, I currently support technology ventures across Wales and really enjoy bringing new technologies to fruition whilst benefitting the Welsh ecosystem.  

You have been working with Driverly for more than a year and have recently re-invested in this business. Why did you decide to invest in Driverly? 

I believe that the Driverly team have what it takes to scale their technology within the insurance industry. The founders are highly respected in their field and the successful pivot Driverly navigated during their initial startup phase has led them to bring something genuinely unique to the insurance sector. Their current customers really value this. They have built a strong and diverse network of advisors and extended team members, as well as attracting supportive investors.  

You are a female investor in the tech startup sector. What are the challenges for female investors in this sector? 

I really enjoy building relationships with business leaders, founders and co-investors in order to support and progress technology businesses. I don’t personally feel that being a female holds me back as an investor, but I do feel females bring something different to the investment landscape and the challenge lies in attracting more women into the profession.  The UK was this week awarded its lowest workplace gender equality ranking in a decade – we need to do better.   

While there is an upward trend in the number of female investors year on year, research suggests a continuing confidence gap between women and men when it comes to managing personal finances and making investment decisions. I am hopeful that the recently announced Invest in Women Taskforce is a positive step forward in improving the gender balance in investment.  

It’s widely acknowledged that the tech startup sector has a long path ahead on the gender equality road. How can we accelerate gender equality in this sector? 

Around only 2% of equity funding in the UK currently goes to female founders, and we are very focussed on this at the Development Bank. Last year over half the new businesses raising capital from us had women as shareholders or directors but there is much more to do.  

I firmly believe that the rapidly evolving tech landscape means that diversity and inclusivity is more important than ever before. The gender gap in the tech sector is a glaring issue which is why we are doing all that we can to increase female representation in the tech space..  People are key in this industry – for me the team is one of my primary considerations, so a thoughtful approach to diversity within that team is crucial. 

Mentorship and support play an important role which is why we are particularly pleased to be investing alongside our co-investors in Driverly. The support of long-term business dealmaker and Women Angels of Wales member Annie Finlayson will be a great asset to the business along with veteran investor and Rebel Syndicate founder Simon Bell, UK Business Angel of the Year Peter Saunders OBE and entrepreneur Darryl Morton.