UK pension providers in talks for £1bn Scale-Up Fund

UK pension funds are in talks with the British Business Bank to launch a £1bn fund for backing British tech scaleups.

Railpen and Nest are among the groups involved in a plan aimed at helping startups grow, expand overseas and create jobs.

The fund could reduce startups’ reliance on foreign late-stage capital by channeling more domestic savings into growth companies.

It also fits broader efforts to strengthen the UK’s innovation economy and encourage long-term pension investment in productive assets.