HM Treasury has published an update that a consortium of major UK pension providers has committed to explore establishing a UK Scale-up Fund of more than GBP 1 billion to invest in high-growth British science and technology companies. The proposed vehicle is intended to expand the supply of UK growth capital and give pension savers greater exposure to returns from successful UK businesses. The fund would be a dedicated vehicle for scaling UK companies, with the stated aim of helping promising innovators commercialise technologies, grow faster and create skilled jobs. The participating pension providers span defined contribution, defined benefit and Local Government Pension Scheme funds. The British Business Bank is working with the group to support the fund’s launch and intends to invest alongside the consortium, while the Office for Investment is also supporting development of the proposal. A market engagement process to explore the appointment of a manager for the proposed vehicle will begin shortly.
HM Treasury2026-07-27
HM Treasury reports major pension providers exploring a UK Scale-up Fund of more than GBP 1 billion for British science and technology companies
HM Treasury said major UK pension providers are exploring a UK Scale-up Fund of more than GBP 1 billion focused on high-growth British science and technology companies. The proposed vehicle would channel pension capital into UK scale-ups, with support from the British Business Bank and the Office for Investment. A process to explore appointing a fund manager will begin shortly.