Schroders Capital Launches UK's First Venture Capital-Focused LTAF

Team S · 2024-09-20T08:50:37.000Z

Schroders Capital has received approval from the UK's Financial Conduct Authority (FCA) to launch its third Long-Term Asset Fund (LTAF), which will be the first dedicated to UK venture capital. The fund will be seeded with a £300m cornerstone investment, equally split between Phoenix and the British Business Bank. This new LTAF aims to provide defined contribution (DC) and institutional investors the opportunity to invest in early-stage UK companies, focusing on technology and life sciences. The fund will target companies developing innovative technologies such as artificial intelligence, quantum computing, fintech, cybersecurity, and oncology. Fund Accessibility: While initially seeded by cornerstone investors, the fund will be open to external capital immediately, allowing DC schemes to invest from day one. Investment Focus: The LTAF will invest in UK-based early-stage companies, particularly in technology and life sciences sectors. Market Impact: This fund aims to remove barriers preventing pension schemes from investing in UK venture capital and support the government's growth ambitions. Timeline : With regulatory approval secured, Schroders Capital is preparing the fund to accept its first capital in the coming months.

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Schroders Capital Launches UK's First Venture Capital-Focused LTAF | Newnex