Proud to be part of this important milestone. 🇬🇧 Initiatives like this show the strong support for cutting-edge UK innovation, and we're proud to be backed by The British Business Bank as we continue to scale our global autonomy platform.
📣 Just announced: We’re thrilled to announce that British Growth Partnership Fund I has achieved a first close at £200 million, with commitments from UK pension funds Aegon UK, NatWest Cushon and M&G. The Fund will make its first investment of £8 million into Wayve, a UK-based autonomous driving company, contributing to the Bank’s £25 million investment announced in February. This is a landmark step in bringing UK pension fund capital into venture – delivered at speed through the British Growth Partnership. This is also the first time that Aegon UK and Cushon have invested in UK venture capital, bringing two of the UK’s pension funds into the asset class. The Fund intends to complete a final close in due course and is continuing discussions with prospective investors. The Bank is also developing further products to support pension funds to access venture capital. Find out more below.