In today’s Budget Chancellor Rishi Sunak announced the UK government would look to create more flexibility for pension schemes to invest in illiquid assets.
“We’re taking steps to give the pensions industry more flexibility to unlock billions of pounds from pension funds into innovative new ventures launching a new Future Fund Breakthrough, to help fill the scale-up funding gap and changing the rules to encourage more companies to list here,” he told Parliament.
The £375m UK-wide Future Fund will invest in highly innovative companies such as those working in life sciences, quantum computing, or clean tech, that are aiming to raise at least £20m of funding, according to the government’s website.