UK pension giants join forces to unlock £1bn to back Britain’s innovators
Pension fund could be used to back the next generation of high-growth British science and technology companies. Major UK pension providers are exploring the establishment of a new UK Scale-up Fund of over £ 1 billion to back the next generation of high-growth British science and technology companies. The fund aims to increase UK growth capital and give pension savers greater access to returns from successful UK companies. The fund would help the UK’s most promising innovators to scale faster, commercialise breakthrough technologies and create skilled jobs across the country. A consortium of some of the UK’s largest pension providers today (Monday 27 July) announces their commitment to explore the establishment of a first-of-its-kind vehicle dedicated to investing in scaling UK businesses. The ambition is a fund of sufficient scale to target the best opportunities born out of UK innovation in science and technology. The fund would seek to deliver strong long-term returns for pension pro...