UK chancellor Jeremy Huny, in the House of Commons

News

July 10, 2023

UK government unveils plan to direct £75bn from pension funds to startups

Jeremy Hunt, the chancellor, has convinced nine major pension funds to invest at least 5% of their assets into British startups and VC firms

Kabir Agarwal

4 min read

The UK government announced Monday that it had secured an agreement from nine UK pension funds to invest at least 5% of their default funds into the nation’s startups and fast-growing companies by 2030 — a move hailed by VCs as an important step towards mobilising more capital for homegrown innovation. 

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