UK pension funds join forces to unlock £1bn for Britain’s innovators

A group made up of some of the largest pension providers in the UK has announced their commitment to establish a fund which will allow them to target the best innovative opportunities in the science and technology sectors.
The aim of the UK Scale-up Fund is to deliver consistent long-term returns for pension providers and their members, through investing in successful companies based in the UK. They will support innovative businesses to grow at scale, create jobs and commercialise new technologies. This will bolster economic growth nationally by creating stronger local economies, whilst also helping pension savers to have access to larger retirement pots.

The fund will help to connect companies, founders and venture managers with institutional capital. The British Business Bank will be working alongside pension providers in order to launch the fund, with the intention of forming a partnership with the group, and investing within it.