Neil Shah joined the London Stock Exchange three years ago, after 15 years in investment banking. He’s a Director in the Primary Markets team and head coverage for the Tech Sector globally, where he supports founders raise capital and elevating their profile to continue growing and scaling their businesses. Until now, this has been through 50+ tech & tech-enabled IPOs on the London Stock Exchange but Neil is really excited by everything the UK is doing in private markets which enables us to help even more founders. “I’m a proud British Indian. Like many Gujaratis in London, one of my parents was born and raised in Kenya and moved here in the 70s. I grew up in the Midlands and live in East London with my wife and two boys,” he told Asian Voice in an exclusive interview. Read more excerpts here:
What is your perspective on the ongoing UK-India partnership - The Living Bridge and knowledge exchange, especially in the Technology sector?
I first visited India in 1990 and I suspect many Indians looked abroad for ideas at that time. My most recent trip was with the Global Tech Advocates last November – I was blown away! I think there’s so much that we can learn from India. I’ve been impressed at the level of knowledge sharing that is happening organically and facilitated through organisations such as London & Partners, the Department of Business & Trade and even the London Stock Exchange Group (LSEG), which has significant operations in cities like Mumbai, Bengaluru and Pune. I see untapped opportunities everywhere.
When we speak of technology, do you think it is a bit complacent to only think digital? Or there are more avenues to discuss here?
As an Exchange, we are fortunate in some ways as we can let the market decide. Ben Graham said that ‘In the short run, the market is a voting machine but in the long run, it is a weighing machine’. The same is true of technology and logic beats emotion in the long run. If you believe in quantum, the future’s more than just 0s and 1s.
What according to you has the UK cracked as a nation in terms of innovation, that the world can learn from?
If I take a step back and look at the things that we’re really good at in Tech, I’d say its FinTech in the broadest sense, evidenced by the sheer volume of companies that have emerged in recent years, as well as compound semiconductors and AI where - I think the UK has the ability to shine. But our real strength as a nation is creativity which we see in everything from fashion and food & beverages to games and film all of which are renowned worldwide.
Last year, LSEG invested in a business called Floww, which started life as a venture capital portfolio management tool. Earlier this year, Floww got its FCA arranger licence to help private companies raise early-stage capital. I’m also really excited by the work by LSEG going into what will be the world’s first regulated intermittent trading venue for private companies. These initiatives will enable us to help many more entrepreneurs and support our aim to be an Exchange Group that is agnostic as to whether a company is public or private. After all, the primary function of an Exchange is to connect creators and capital.
What kind of innovation do you think is needed in terms of technology to combat the climate crisis?
There are many examples where innovation by companies can combat climate change, such as Supercritical, a company which recently acquired Series A funding, who are using giant fans for direct carbon capture. Sustainable finance is a growing industry, and it takes time to build standards and trust. At the London Stock Exchange, we recognise London-listed companies and funds that derive more than 50% of their revenues from products and services that are contributing to environmental objectives with our Green Economy Mark. We have also launched the Voluntary Carbon Market to enable financing at scale into projects that mitigate climate change.
What is the pragmatic future of AI in the tech world and how do you think it’ll impact the jobs of creative and non-creative professionals?
I think AI is here to stay and with the right guardrails in place, will allow us to be more efficient with our day to day tasks, and enable us to use more of our time and intellect to focus on the things that interest us.
What is the contribution of South Asians in the UK to the tech sector? Do you think community professionals are rewarded and recognised for their work, enough?
My team and I have had the pleasure of seeing the very best South Asian tech talent shine. For example, Bhairav Trivedi at CAB Payments; Vin Marria of ACS fame, Vishal Marria and Imam Hoque at Quantexa, TS Anil at Monzo, Jaidev Janardana at Zopa, Rishi Khosla at OakNorth, Gordon Sanghera at Oxford Nanopore and we can’t forget brothers Ron and Mickey Kalifa as well as rising stars like Nina Mohanty. In the last couple of years, I’ve seen this community start to get the recognition it has earned but I think we need more role models for young Asian people to aspire to. When I graduated from the London School of Economics, most of my peers went into finance and looking that that same cohort, I’d say the majority are working in tech and building the flywheel.
You were at 10 Downing Street recently for the London Tech Week. Please describe your experience.
Firstly, I want to thank the Prime Minister and his team for not only inviting me but for stopping what they were doing to say hello. It was an immense honour. I had massive imposter syndrome in that garden and stood amongst some of the biggest names in global tech and investment. What was also humbling to see was that even those most critical of the UK are secretly rooting for us too. We all have a vested interest, with just different ways of showing it. I’m a proud optimist. It’s the secret to being happy.
