Scottish Widows, Aberdeen Investments, and IP Group announced the first investments from a fund linking workplace pension savings to UK science and technology companies. The CG Scottish Widows Growth LTAF will allocate capital to quantum computing, advanced batteries, and AI-enabled healthcare. Initial commitments back Oxford Quantum Circuits, Quantum Motion, Nyobolt, and Genomics Limited.
Who manages the fund
Aberdeen Investments manages the growth sub-fund for Scottish Widows. It appointed IP Group to run a UK venture growth portfolio within the fund. The arrangement gives workplace pension savers exposure to private markets.
First portfolio companies
Oxford Quantum Circuits builds commercially available quantum computing systems. Quantum Motion develops scalable silicon-based quantum computers. Nyobolt and Genomics Limited cover advanced battery technology and AI-enabled healthcare.
Why savers are involved
The fund is among the first UK pension schemes to actively allocate members’ capital to UK venture growth. It offers savers access to opportunities traditionally reserved for institutional investors. It also aims to improve retirement outcomes while supporting British innovation.
The partners said the model can be expanded over time. That would increase the flow of long-term pension capital into high-growth UK businesses. IP Group called the move the beginning of a larger opportunity for savers.