UK pension providers back £200m fund aimed at supercharging homegrown startups

UK pension providers and the British Business Bank have raised £200m for the British Growth Partnership.

The fund will channel capital into British venture funds and homegrown startups, aiming to boost domestic growth-stage financing.

Its first planned deployment is an £8m investment in autonomous driving software company Wayve.

The move is meant to mobilize more UK pension capital into private markets and close a long-standing funding gap.