UK pension providers explore £1bn fund for tech scale-ups

A consortium of major UK pension providers announced on Monday, July 27, 2026, that they are exploring the creation of a new fund exceeding 1 billion pounds to invest in high-growth British science and technology companies. The initiative, called the UK Scaleup Fund, aims to provide domestic growth capital to promising firms and deliver stronger long-term returns for pension savers.

The partners include Railpen, NEST, Border to Coast Pensions Partnership, and the British Business Bank, which is working to support the fund's launch and intends to invest alongside the group. The Office for Investment is also supporting the consortium. The fund would target companies that have proven their concepts but require significant capital to commercialize technology, scale operations, and create skilled jobs across the country.

Business, Innovation, Science and Trade Secretary Jonathan Reynolds called the ambition an important vote of confidence in UK innovation. He stated that by investing in innovative companies, the fund could help drive long-term growth while allowing pension savers to share in their success. Prime Minister Andy Burnham said the fund would help unlock growth in every...