Phoenix launches £100m venture capital fund

The vehicle will enable Phoenix to build portfolios that include exposure to venture capital investments for its life unit-linked and with-profits policyholders, diversifying into an asset class that has been largely reserved for institutional investors.

Phoenix Venture Capital Partners will be developed and administered in partnership with asset manager Aberdeen Standard Investments, whose VC team will manage investment strategy and portfolio.

The fund will predominantly invest in disruptive and transformative early-stage UK-based startups and businesses, with a thematic ESG approach within a number of sectors, including fintech, green energy and healthcare.

The vehicle intends to help businesses scale up, while giving them access to expertise and capital, and at the same time achieving attractive risk-adjusted returns.

"The new venture capital fund will support healthcare, green energy and fintech entrepreneurs up and down the country, providing them with the capital and the expertise they need to level up and grow their businesses," said James Mitchell, head of manager oversight at Phoenix. "Subject to market conditions, we intend to increase this allocation in due course, as we see this as an attractive asset class, consistent with our policyholder's objectives and values."

Phoenix is a UK-based long-term savings, insurance and retirement specialist with around 14 million customers and £338bn in assets under administration.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Venture
• UK / Ireland
• United Kingdom
• Aberdeen Standard Investments