Adrian Beecroft
{{Short description|British venture capitalist (born 1947)}}
{{Use dmy dates|date=April 2022}}
{{Infobox person
| name = Adrian Beecroft
| image =
| image_size =
| caption =
| birth_date = 20 May 1947
| birth_place = Yorkshire, England
| death_place =
| education = Hymers College
Queen's College, Oxford
Harvard Business School
| occupation = Angel investor
| spouse = Jacqueline Beecroft
| children =
}}
Paul Adrian Barlow Beecroft (born Yorkshire, 20 May 1947{{Cite web|url=http://www.freebmd.org.uk/cgi/information.pl?cite=JiyMi1qc8tMfb1IhqEwzeQ&scan=1|title=Index entry |access-date=25 May 2012 |work=FreeBMD|publisher=ONS}}) is a British venture capitalist based in London. He was for many years Chief Investment Officer of the private equity group Apax. He was until recently Chairman of Dawn Capital.{{cite web|url=http://www.dawncapital.co.uk/ |title=Home |publisher=Dawn Capital |access-date=2012-05-22}}{{cite news|title=Apax veteran Beecroft returns to VC roots|work=Financial News|date=25 May 2010|url=http://www.efinancialnews.com/story/2010-05-25/adrian-beecroft-dawn-capital}}
Among the companies in which Beecroft has personally invested are Mimecast and Insignis.{{citation needed|date=April 2020}}
Beecroft has donated more than £500,000 to the Conservative Party since 2006.{{cite news|title=Beecroft proposals: how Tory donor's radical blueprint split the government|newspaper=The Guardian|date=23 May 2012|url=https://www.theguardian.com/politics/2012/may/23/beecroft-proposals-coalition-support-criticism|location=UK}}
Early life and education
Adrian Beecroft was born and raised in Yorkshire. He studied at Hymers College in Hull.{{Cite news|url=https://www.telegraph.co.uk/culture/3664641/The-New-Philanthropists.html|title=The New Philanthropists|last=Thomas|first=David|newspaper=The Daily Telegraph|date=2007-04-20|access-date=2018-09-04|language=en-GB|issn=0307-1235}}
He graduated from Queen's College, Oxford with a first class honours degree in Physics in 1968 and is now an Honorary Fellow of the College.{{Cite web|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=85311&privcapId=35903973|title=Profile: Adrian Beecroft|website=www.bloomberg.com|access-date=2018-09-04}} In 1976, he gained an MBA from Harvard Business School, where he studied as a Harkness Fellow. He graduated from Harvard as a Baker Scholar.
Career
Adrian Beecroft has an extensive career in venture capital and private equity, specialising in IT investments. He was the Chairman of the British Venture Capital Association in 1991.{{Cite news|url=https://www.thetimes.com/sunday-times-rich-list/profile/article/business-big-shot-adrian-beecroft-032nzk2kkxq|title=Business big shot: Adrian Beecroft|date=2010-05-25|work=The Times|access-date=2018-09-04|language=en|issn=0140-0460}}
Beecroft started his career at ICL, in the computer industry. In 1973, he moved to Ocean Transport and Trading Ltd., working to develop their new business area of bulk shipping.
After graduating from Harvard Business School, Beecroft joined Boston Consulting Group in London. He became Vice President of BCG in 1982.
In 1984, Beecroft joined Apax Partners and was there for 25 years until he retired from his role as Chief Investment Officer in 2008.
In December 2006, Beecroft was appointed to the NESTA Investment Committee.{{Cite web |date=2007-10-26 |title=NESTA Annual Report and Accounts 2006/07 |url=http://www.official-documents.gov.uk/document/hc0607/hc06/0654/0654.pdf |url-status=dead |archive-url=https://web.archive.org/web/20071026165533/http://www.official-documents.gov.uk/document/hc0607/hc06/0654/0654.pdf |archive-date=October 26, 2007 |access-date=August 10, 2021 }} At that time, NESTA was still a QUANGO.
Beecroft was awarded the BVCA's Hall of Fame honour at the Private Equity Awards in 2009. He was a member of Sir David Walker's committee on improving the transparency of the private equity industry.{{Cite web|url=https://ftalphaville.ft.com/2007/03/21/3305/walker-assembles-high-flying-private-equity-working-group/|title=Walker Assembles High Flying Private Equity Working Group|website=ftalphaville.ft.com|language=en|access-date=2018-09-04}}
In 2010, Beecroft joined Dawn Capital as the Chairman of their board.
Beecroft Report and controversy
On 21 May 2012, the Beecroft Report caused considerable controversy in the UK due to its recommendations to relax regulation surrounding the dismissal of employees. The report claimed this would help to boost the economy.{{cite news|title=How Adrian Beecroft proposed to rip up decades of employee rights to boost the economy|author=Daily Telegraph|date=21 May 2012|url=https://www.telegraph.co.uk/news/politics/9275558/Analysis-How-Adrian-Beecroft-proposed-to-rip-up-decades-of-employee-rights-to-boost-the-economy.html|location=London|work=The Daily Telegraph}} It was alleged that significant sections of the report had been doctored.{{cite news|title=Controversial Beecroft report on employment reform doctored by No 10|author=Daily Telegraph|date=21 May 2012|url=https://www.telegraph.co.uk/news/politics/9281161/Controversial-Beecroft-report-on-employment-reform-doctored-by-No-10.html|location=London|work=The Daily Telegraph}} It was also reported that some recommendations had been removed from the original draft of the report. On 21 May, Secretary of State for Business Vince Cable condemned the report, saying it was unnecessary for the government to scare workers.{{cite news|url=https://www.bbc.co.uk/news/uk-politics-18155827 |title=BBC News - Adrian Beecroft work report not doctored, No 10 says |publisher=Bbc.co.uk |date= 2012-05-22|access-date=2012-05-22}} Beecroft responded by accusing Cable of being a socialist.{{Cite news|url=https://www.telegraph.co.uk/news/politics/9283748/Socialist-Vince-Cable-not-fit-for-office-says-Adrian-Beecroft.html|title='Socialist' Vince Cable not fit for office, says Adrian Beecroft|last=Winnett|first=Robert|newspaper=The Daily Telegraph|date=2012-05-22|access-date=2018-09-05|language=en-GB|issn=0307-1235}} He referenced his own experience of having to pay £150,000 for unfairly dismissing an HR employee as one of the many reasons behind the recommendation in the report.{{cite news|url=https://www.telegraph.co.uk/news/politics/9283748/Socialist-Vince-Cable-not-fit-for-office-says-Adrian-Beecroft.html |title='Socialist' Vince Cable not fit for office, says Adrian Beecroft |publisher=Telegraph |date=2011-05-31 |access-date=2012-05-22 |location=London |first=Robert |last=Winnett}}
Philanthropy
File:Beecroft Bldg Oxford.jpg, Oxford, completed in 2018]]
Beecroft helped to found and funds the Beecroft Institute of Particle Physics and Cosmology (BIPAC) at Oxford University.{{cite news|url=http://www.physics.ox.ac.uk/astro/bipac/ |title=Beecroft Institute of Particle Astrophysics and Cosmology |publisher=Physics.ox.ac.uk |access-date=2012-05-22}} He has also part-funded the Beecroft Building, part of the Department of Physics in Oxford. This new building is specifically focused on theoretical, condensed matter and quantum physics. According to The Daily Telegraph, the funding for this building was inspired by Beecroft's interest in astrophysics.{{Cite web|url=https://www.campaign.ox.ac.uk/news/beecroft-building|title=Celebrating the 'bottoming out' of Oxford's Beecroft Building|website=www.campaign.ox.ac.uk|language=en-gb|access-date=2018-09-07}}
Beecroft has supported his school, Hymers College in Hull. He has also been a Trustee of Impetus Trust, a social impact charity. For six years, Beecroft was also the Chairman of the Cricket Foundation, now known as Chance to Shine, a charity focused on bringing cricket back into British state school education.{{Cite web|url=https://www.chancetoshine.org/news/cricket-foundation-elects-donald-brydon-as-new-chairman-of-the-board-of-trustees|title=Cricket Foundation elects Donald Brydon as new Chairman of the Board of Trustees|website=www.chancetoshine.org|language=en|access-date=2018-09-07|archive-url=https://web.archive.org/web/20180907221313/https://www.chancetoshine.org/news/cricket-foundation-elects-donald-brydon-as-new-chairman-of-the-board-of-trustees|archive-date=2018-09-07|url-status=dead}}
Through the Beecroft Trust, Adrian and his wife sponsor the Oxford Academy, an Academy school serving a very deprived area of Oxford.{{Cite web|url=http://www.theoxfordacademy.org.uk/Sponsors|title=Sponsors|website=www.theoxfordacademy.org.uk|language=en|access-date=2018-09-07}} Since becoming an Academy school in 2010, its results have improved dramatically from 14% of the students achieving five A* to C grades including English and Maths to 56% achieving this in 2017. However, in 2019, only 17% of pupils achieved grade 5 or above at GCSE and the school had the worst Attainment 8 and Progress 8 scores of any mainstream school in Oxfordshire.{{Cite web|url=https://www.oxfordmail.co.uk/news/17988398.gcse-2019-results-oxford-academy-disappointed/|title=School 'disappointed' to come bottom in GCSE rankings|website=Oxford Mail|date=24 October 2019 |language=en|access-date=2019-12-16}} In December 2019, the Head and governing body were removed after an OFSTED inspection.{{Cite web|url=https://www.oxfordmail.co.uk/news/18090495.head-governors-leave-oxford-academy-ofsted/|title=Mum says school is 'like juvey' as head and governors leave|website=Oxford Mail|date=10 December 2019 |language=en|access-date=2019-12-16}}
Beecroft has also supported the UNESCO initiative to preserve the Belize Barrier Reef Reserve System, which was classified as in danger on the UNESCO List of World Heritage in Danger in 2009.{{Cite web|url=https://whc.unesco.org/en/news/1839/|title=Landmark Conservation Action leads to Belize Barrier Reef removal from List of World Heritage in Danger|last=Centre|first=UNESCO World Heritage|website=whc.unesco.org|language=en|access-date=2018-09-07}} As of June 2018, the World Heritage Committee decided to remove the Belize Barrier Reef, which is the world's second largest coral reef, from the list.{{Cite news|url=https://www.bbc.com/news/world-latin-america-44627719|title=Belize reef taken off 'in danger' list|date=2018-06-27|work=BBC News|access-date=2018-09-07|language=en-GB}}
Personal life
File:Aston Martin DBR1 Adrian Beecroft.jpg]]
Beecroft lives in London and supports Lord's Cricket Ground as a Marylebone Cricket Club (MCC) Trustee.{{Citation|last=Lord's Cricket Ground|title=Meet MCC Trustee Adrian Beecroft {{!}} MCC/Lord's|date=2015-09-29|url=https://www.youtube.com/watch?v=QqN_NLDNxVw|access-date=2018-09-07}} As a trustee one of his core roles is assisting with the appointment of the Chairman, but also overseeing the wellbeing of the club and cricket ground.{{Cite web|url=https://www.lords.org/mcc/the-club/mcc-committee/|title=MCC Committee|website=www.lords.org|language=en|access-date=2018-09-07}} His enthusiasm for the sport came from watching the Yorkshire County team play in Hull. He is the President of Cropredy Cricket Club for whom he still plays league cricket.{{Cite web|url=http://cropredycc.play-cricket.com/website/player_stats_widget/batting_stats/142168|title=Cropredy CC|website=cropredycc.play-cricket.com|language=en|access-date=2018-09-07}}
Beecroft is a supporter of the North Yorkshire Moors Railway of which he is a Vice-President. He is a keen auto-enthusiast, having an extensive collection of vehicles, including several Aston Martins, most notably a DBR1 which he races at a number of motoring events and later crashed in 2015.{{Cite web|url=https://carbuzz.com/news/this-might-be-the-most-expensive-crash-ever-here-s-what-the-cars-cost|title=This Might Be The Most Expensive Crash Ever: Here's What The Cars Cost|date=October 5, 2015|website=CarBuzz}} He is a governor of Hymers College in Hull.
References
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External links
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Category:People from Yorkshire
Category:People educated at Hymers College
Category:Alumni of the Queen's College, Oxford
Category:Harvard Business School alumni
Category:British venture capitalists
Category:British businesspeople