Is there such a thing as ethical capitalism? It’s easy to think there might have been in a previous era – take, for example, the late nineteenth century village of Bournville, founded by the Cadbury family for employees of the nearby Cadbury’s factory. Even in 2026, however, a Chinese company, Henan Kuangshan Crane, awarded employees with the equivalent of £19 million at its end-of-year staff party. There didn’t seem to be much, if any, ‘give and take’ in the ‘dog eat dog’ world of venture capitalism as presented in this intriguing play.
It’s one of those shows that is full of energy to begin with but starts to flag as it progresses – whether by default or by design, this fits the narrative. May Lee (Millicent Wong) is full of hope and optimism working for The Montrose Fund, set up according to its founder Paul (Lloyd Owen) to change the world. But things almost inevitably get more complicated later on. Quite a wordy play, Willa McGovern’s (Letty Thomas) opening investment pitch, in which she launches into a detailed presentation at pace, came across to me as indicative of the show as a whole: in order to get your head around it all, you’d need to be in the ‘right’ frame of mind. Behind the smiles and warm welcomes, it’s pretty heavy stuff.
On one level, it ultimately doesn’t tell the cynics and sceptics anything they didn’t already know. McGovern, a doctor, is out to make money by almost any means possible, which makes her (in this regard) no different to Paul and May, who run a ‘fund’, not a ‘foundation’. In other words, they are not giving money away, but investing into what they consider to be profitable enterprises, which is the primary consideration. The contribution that a given enterprise can potentially make to the betterment of society is a distant second consideration – any mention of it is really for the purposes of persuading financial backers to fund Willa’s start-up, Of course, there is some pressure on Willa’s company to deliver eventually: if not, the funding for her desired continued expansion won’t come through. In short, it’s all about the money.
On a different level, however, the play has much to say about the ethics, or lack thereof, of private enterprise, and of the systems of government that are supposedly meant to provide checks and balances to ensure businesses don’t get too carried away. Set, it would appear, at some point in the near future, the production makes good use of video technology and virtual reality headsets. It’s a bit of a pity the video projections didn’t extend to allowing the audience to ‘see’ what Paul was seeing through his headset, though I take the point that overuse of video makes people wonder if they are in a cinema or a theatre.
It’s dystopian, but nuanced – there’s none of the overt brutality of, say, The Hunger Games. But what goes on amongst those who have plenty of cash is revealed in a ‘warts and all’ script – behind closed doors are the sorts of comments that, if they were repeated on social media, would get the characters cancelled. Completing the cast list is The Woman (Sarah Lam), who has a brief but nonetheless pivotal role in a longitudinal story. Subplots about early-onset dementia and how personal data waivers can be misused provide extra moral issues to think about. A thoughtful and convincing production.
Review by Chris Omaweng
“I built this fund to save the world… And how’s that going for us? For the world? Does it look saved to you?”
Fresh from her feature in Forbes 40 Under 40, venture capitalist May Lee is on the hunt for her first unicorn – the rarest of beats, in the form of a start-up with a $1bn valuation. It would skyrocket both her career and her net worth, guarantee promotion to partner and cement her legacy as one of the best in the business. Enter Willa McGovern, a hungry young entrepreneur with an idea that could be life-changing not only for May, but the entire human race…
With her mentor Paul keen for results and the potential of saving countless lives, May quickly discovers that ambition, ego and cold hard cash can twist even the purest of intentions. As technology hurtles toward making science fiction into reality, the question becomes not whether we can change the world, but what it will cost us when we do.
CAST
The Woman – Sarah Lam
Paul – Lloyd Owen
Willa – Letty Thomas
May – Millicent Wong
CREATIVE TEAM
Writer – Aaron Loeb
Director – Chelsea Walker
Designer – Rosie Elnile
Lighting Designer – Alex Fernandes
Sound Designer – Russell Ditchfield
Video Designer – Hayley Egan
Movement Director – Michela Meazza
Associate Designer – Emeline Beroud
Video Engineer – Peter Adams
Production Manager – Dominic Fraser
Costume Supervisor – Caitlin Keaney
R.O.I. (Return On Investment)
Hampstead Theatre
6 March to 11 April 2026
