A consortium of UK pension providers is reportedly working on the launch of a new fund worth more than £1bn targeting innovative private British companies. Referred to as the UK Scale-Up Fund, figures involved include Nest, Railpen and Boarder to Coast, as well as the British Business Bank, which would
Oscar Hornstein 
A consortium of UK pension providers is reportedly working on the launch of a new fund worth more than £1bn targeting innovative private British companies.
Referred to as the UK Scale-Up Fund, figures involved include Nest, Railpen and Boarder to Coast, as well as the British Business Bank, which would serve as both a backer of the fund and support on its delivery.
According to the government, the fund would be of “sufficient scale to target the best opportunities born out UK innovation in science and technology.
“By bringing together major pension investors, the UK Scale-up Fund would help connect institutional capital with the companies, founders and venture managers driving the next wave of British innovation,” a government source told The Times.
This fund would follow significant progress already made to direct pension capital towards high-growth potential private firms.
In April it was revealed that the British Business Bank was coordinating the British Growth Partnership Fund I, with an initial close of £200m, backed by three UK pension funds.
Talks associated with the new fund are said to be at an early stage.
