VENTURE Capital BELFAST EST 2009

I back the people
who back the UK

I am Boyd Carson, Chairman and co-founder of Sapphire Capital Partners LLP, an FCA-authorised venture capital firm in Belfast that has launched 50+ funds since 2009.

Most of my work is helping people launch their own funds. I try to build toward the day they no longer need us.

I have worked in deals since 1996. I am also a husband, a father of three, and a lot of other things too.

I write about venture capital, the UK, Belfast, and what the power law actually looks like from the inside, mostly on the Sapphire blog. I hope some of it is useful to you.

I back the people who back the UK

My Journey

04

Chairman, Sapphire Capital Partners LLP

FCA Authorised FRN 565716 Certified B Corp
03

Honorary Professor of Venture Capital

Queen's University Belfast
02

Assistant Instructor, Venture Capital

Harvard University
01

Former Director, M&A Transaction Services

PwC New York 1996–2004 8 years

Qualifications

Master's in Finance, Harvard University Fellow, Chartered Accountants Ireland Member, Chartered Institute for Securities and Investments Postgraduate Diploma in Accounting, Queen's University Belfast BA in History, Cardiff University Applied Generative AI Specialisation, Purdue University

About

On the river in Greece
On the river. Greece. 2023.

I grew up in Northern Ireland. My first job was on my father's farm and in my brother's retail shop. After that came Cardiff. Then Okayama, working for the Japanese Ministry of Foreign Affairs. Then eight years at PwC in New York doing M&A due diligence. Then back to Japan with Vasiliki, who was at Goldman Sachs.

I had spent some time running my father's farm earlier in life and I knew it was not for me. So when Sapphire was still an idea more than a business, I knew I had to give it the push it needed. Vasiliki and I came home to Belfast in 2009 and built it from nothing. We are still at it.

I am Chairman of Cancer Focus Northern Ireland. I am a qualified fly fishing instructor and most weekends I am on the Sixmile River fishing for trout.

We have three children, two boys and a girl. The oldest is named William, after my father. I am still wrong about most things at home and I expect this will continue.

I try to run every morning before work and read or study every evening. We travel to Connemara in the west of Ireland every year. I can speak basic, very rusty Japanese. My favourite pub in Belfast is Kelly’s Cellars.

I think the best ideas are not all coming from London, and I have been trying to prove that since 2009.

Currently

Updated November 2026

Teaching

Harvard University Venture Capital Course Fall 2026

Reading

AI Snake Oil by Arvind Narayanan & Sayash Kapoor

Thinking

What secondary liquidity actually means for early-stage investors in the UK

Currently

Writing

Read article: How to Navigate Fund Incubation in 2027
Fund incubation Sapphire blog

How to Navigate Fund Incubation in 2027

October 2026
Read article: What Slows First-Time Fund Managers at Launch
Fund launch Sapphire blog

What Slows First-Time Fund Managers at Launch

September 2026
Read article: Why First-Time Fund Managers Struggle to Launch
Fund launch Sapphire blog

Why First-Time Fund Managers Struggle to Launch

August 2026

Read more on the Sapphire blog  ·  Follow me on LinkedIn

Speaking & Teaching

Keynotes, lectures, panels, and conversations on venture capital, entrepreneurship, and building for the long term.

2026

Harvard University. Venture Capital.

A career in venture capital Cambridge, Massachusetts
2025

Queen's University Belfast. Honorary Professor Lecture.

Building Venture Capital in a Regional Market Belfast
2024

UCD Investors and Entrepreneurs Society

The Entrepreneurial Journey and Capturing Opportunity Dublin
2024

i2E Entrepreneur's Cup. Collegiate Business Plan Judge.

Annual collegiate competition since 2024 Oklahoma

Books Worth Reading

Not a comprehensive list. Just the ones I find myself recommending over and over.

Read book recommendation: To Know A River by Roderick Haig-Brown
Cover of To Know A River by Roderick Haig-Brown
Fishing The one I love the most

To Know A River by Roderick Haig-Brown

Describes a relationship with a river the way you would describe a love affair. The only book I have read where the writer seems to understand what fishing actually feels like.

Read book recommendation: Crime and Punishment by Fyodor Dostoevsky
Cover of Crime and Punishment by Fyodor Dostoevsky
FICTION Half finished

Crime and Punishment by Fyodor Dostoevsky

I have only read half of it. I keep meaning to finish. Yet somehow I find myself thinking about Raskolnikov in the middle of business meetings.

Read book recommendation: The Power Law by Sebastian Mallaby
Cover of The Power Law by Sebastian Mallaby
Venture capital

The Power Law by Sebastian Mallaby

Pretty much sums up the venture capital dilemma. A handful of bets carry the entire portfolio. Knowing that does not make picking them any easier.

Read book recommendation: Atomic Habits by James Clear
Cover of Atomic Habits by James Clear
Habits

Atomic Habits by James Clear

The book I find myself recommending more than any other. Small things, done consistently, beat big things done occasionally. True for fund management. True for life.

Read book recommendation: AI Snake Oil by Arvind Narayanan and Sayash Kapoor
Cover of AI Snake Oil by Arvind Narayanan and Sayash Kapoor
AI Currently reading

AI Snake Oil by Arvind Narayanan and Sayash Kapoor

A clear-eyed guide to what AI can and cannot do, written by two Princeton computer scientists. Required reading for anyone being pitched an AI company, which these days is most of us.

People I Learned From

Borrowed from Patrick Collison's site, which borrowed it from someone else. People whose thinking has changed how I see things.

My Father, William
01

My Father, William

Super intelligent. Incredible work ethic. Incredibly generous. He passed away. My oldest son is named after him. I think about him every day.

My Wife, Vasiliki
02

My Wife, Vasiliki

The driving force behind me and our family. Most of what is good in my life traces back to her.

My karate teacher in Japan
03

My karate teacher in Japan

Always positive. Always energetic. Whatever the day, whatever the weather, he showed up the same way. I have been trying to do that ever since.

My in-laws
04

My in-laws

Same incredible work ethic as my father, and the same generosity with their time and kindness. I got lucky twice.

Mrs Armstrong, my old teacher
05

Mrs Armstrong, my old teacher

Kept me back a year at school. I have spent the rest of my life proving her wrong. I suspect she knew exactly what she was doing.

Frequently Asked Questions

Who is Boyd Carson?

Boyd Carson is the Chairman and co-founder of Sapphire Capital Partners LLP, an FCA-authorised venture capital firm based in Belfast, Northern Ireland. He is a Chartered Accountant (FCA) and a member of the Chartered Institute for Securities and Investments (MCSI), and began his career in M&A transaction services at PwC in New York. He founded Sapphire with Vasiliki Carson in 2009. He is also an Assistant Instructor on Harvard University's graduate course in venture capital, an Honorary Professor of Venture Capital at Queen's University Belfast and Chairman of Cancer Focus Northern Ireland.

What does Sapphire Capital Partners do?

Sapphire Capital Partners helps sector specialists launch and run their own venture capital funds, mainly SEIS and EIS funds. Sapphire acts as the FCA-authorised investment manager, providing the regulatory permissions, fund structuring, compliance and administration, while its partners focus on finding and supporting companies. Since 2009 Sapphire has launched 50+ funds and made 500+ investments.

What is fund incubation?

Fund incubation means an FCA-authorised firm provides the regulatory licence and operational infrastructure so that a new team can launch a fund without first obtaining its own FCA authorisation. Some fund managers later gain their own authorisation, while others stay with Sapphire for the long term.

Is Sapphire Capital Partners regulated?

Yes. Sapphire Capital Partners LLP has been authorised and regulated by the Financial Conduct Authority since 2012, under firm reference number 565716. You can check its status on the FCA Register. Sapphire is also a certified B Corporation.

What are SEIS and EIS?

The Seed Enterprise Investment Scheme (SEIS) and the Enterprise Investment Scheme (EIS) are UK government schemes that give income tax relief to people who invest in qualifying early-stage companies. SEIS offers 50% income tax relief and EIS offers 30%, subject to each investor's circumstances and HMRC rules. These are high-risk, illiquid investments and investors can lose all the money they invest.

Does Sapphire offer investments directly to the public?

No. Sapphire does not make unsolicited calls, does not offer investments directly to retail investors and does not engage in trade-by-trade sales. Fraudsters have falsely claimed links to Sapphire, so anyone contacted in Sapphire's name should check the FCA Register before responding.

What does Sapphire Business Advisers do?

Sapphire Business Advisers helps UK founders get investor-ready. It offers four fixed-fee services: SEIS and EIS Advance Assurance applications to HMRC, fundraising readiness reviews of pitch decks and financial models, independent business valuations, and non-executive director support for growing companies. It is a separate company from Sapphire Capital Partners, is not regulated by the FCA and does not give investment advice. Visit sapphirebusinessadvisers.co.uk.

What does DealsFlow do?

DealsFlow is an AI-assisted deal-screening platform for venture capital fund managers. It reviews every pitch deck and application a fund receives against that fund's own criteria, scores each one and keeps a clear record of how decisions were made, so the team can spend its time on the companies most worth a closer look. Visit dealsflow.co.uk.

What does Emerald do?

Emerald Fund Services is a Belfast-based fund administration and accounting firm for private market fund managers. It handles capital calls, distributions, investor onboarding and reporting, NAV calculations and financial reporting, and can also provide day-to-day operational support working alongside a manager's own team. Visit emeraldfundservices.com.

Is Boyd Carson available for speaking?

Yes. Boyd speaks on venture capital, fund management, building venture capital outside London and entrepreneurship. Please email boydcarson@hotmail.com with a brief outline of the event.

Contact

If you are a sector specialist thinking about launching your own fund, a founder raising under SEIS or EIS, or you would like me to speak at your event, I would like to hear from you. The same goes if something here resonated, if you disagreed with something I wrote, or if you happen to be in Belfast and want to grab a coffee.

Call Boyd Carson
Call
Phone

+44 (0)7917 767362

Send an email to Boyd Carson
Email
Email

boydcarson@hotmail.com

Visit Boyd Carson on LinkedIn
LinkedIn
LinkedIn

linkedin.com/in/boydcarson

Quote

My philosophy in life has always been to just ask. The worst you can get is a no.