Pension funds to commit £200m initial fund to invest in UK science and tech

HM Treasury and the British Business Bank have announced that Aegon UK, NatWest Cushon and M&G are in the final stage of approval regarding an initial £200m of investment to support the UK’s “most innovative” companies across the science and technology sector. 

HM Treasury said the initial sum represents a “first step” towards raising hundreds of millions of pounds of further institutional capital through the British Growth Partnership. The British Business Bank has also announced its intention to launch its VentureLink initiative which is intended to help institutional investors better understand the venture capital market.

Minister for Pensions Torsten Bell said the investment commitment indicates that the UK's start up ecosystem presents “a wealth of opportunity for institutional investors”. The initiative commits the Government to take action to ensure there is a strong pipeline of investable opportunities for pension schemes and builds on the momentum created by the Mansion House Accord.