Scottish Widows, Aberdeen Investments, and IP Group have launched the CG Scottish Widows Growth LTAF, a new fund designed to channel workplace pension savings into high-growth UK science and technology firms. This initiative marks one of the first instances where UK pension capital is directly allocated to venture growth, aiming to provide long-term funding for businesses transitioning from scientific research to commercial scale.
The fund's inaugural portfolio includes four key investments: Oxford Quantum Circuits, focused on commercial quantum computing; Quantum Motion, which develops scalable silicon-based quantum hardware; Nyobolt, a developer of ultra-fast-charging battery technology; and Genomics Limited, a firm utilizing AI and genetic datasets for drug discovery and preventative healthcare.
Aberdeen Investments manages the growth sub-fund for Scottish Widows and has appointed IP Group to oversee the UK venture growth portfolio. This partnership is intended to address the domestic funding gap for companies ready to expand, while simultaneously offering pension savers access to private market opportunities that were previously restricted to institutional investors.
