Lansdowne launches GBP £150 million UK venture fund
Fri, 15th May 2026 (Today)
Lansdowne Partners has launched a venture capital fund for UK companies emerging from university research and the start-up sector, raising USD $150 million in a first close.
The fund will invest in businesses seeking to move from early-stage development into larger commercial markets. A second and final close is planned, with the fund capped at USD $200 million. First-close backers include British Business Bank, Aviva Investors and Lloyds Banking Group, alongside existing Lansdowne investors and the firm's partners.
The launch expands Lansdowne's private markets activity through a strategy focused on British science and technology businesses. The firm sees a gap between the strength of UK research and the capital available to companies aiming to grow into larger international businesses.
The fund will target healthcare data, quantum computing, natural capital, advanced materials, semiconductors and defence technology, as well as sectors linked to supply chain security and domestic production.
Lansdowne has previously backed several UK innovation platforms, including Oxford Science Enterprises, IP Group, Entrepreneur First, Cambridge Innovation Capital and Northern Gritstone. It added that it was an early investor in several scale-up companies, with six investments reaching unicorn status: Oxford Science Enterprises, Oxford Nanopore, Raspberry Pi, Oxford Ionics, TechMet and Helsing.
The firm also highlighted its support for Tungsten West, which it said played a central role in reviving the UK critical minerals sector.
The launch comes as institutional investors in Britain face growing pressure to direct more capital towards domestic growth companies. British Business Bank pointed to broader efforts to increase participation by pension funds and insurers in venture capital and other long-term assets tied to the UK economy.
Peter Davies outlined the case for the fund's strategy.
"We are incredibly excited to be working alongside such a strong group of institutional partners on this initiative. The UK has at least as much intellectual property per capita as any country in the world. Yet too often the companies built around those ideas struggle to access the capital needed to scale globally."
"By backing a concentrated set of exceptional businesses with substantial capital and disciplined strategic guidance, we aim to help them realise their potential to become global leaders, drive domestic economic growth and deliver strong returns for our investors," said Peter Davies, Partner and Head of Developed Markets at Lansdowne Partners.
Christine Hockley, managing director and co-head of funds at British Business Bank, linked the fundraise to a broader policy shift in UK capital markets.
"The UK has one of the world's largest venture capital markets, but there remains a significant opportunity to increase participation from domestic institutional investors. We are now seeing tangible momentum behind the Mansion House agenda, with pension funds and insurers increasingly looking at how they can access the growth potential of UK companies. Lansdowne's first close is a strong example of progress in mobilising UK institutional capital into the UK's innovation economy," said Hockley.
Aviva Investors said its backing reflected continued interest in UK science and technology businesses with growth potential.
"We are very pleased to partner with Lansdowne Partners on its new fund, reflecting our continued commitment to helping the UK get ready for the future by backing ambitious, high-growth science and technology companies. We believe Lansdowne's experience and disciplined approach to capital deployment position the fund well to nurture the next generation of UK scale-ups, which we believe can also support long-term investment outcomes," said Anthony Barker, director of venture capital at Aviva Investors.
Lloyds Banking Group said the investment was intended to address a funding shortfall facing some British technology companies.
"Our investment reflects the group's commitment to closing the funding gap that can hold back the UK's most innovative businesses from scaling. By backing this fund, we're supporting technology companies with a UK intellectual property edge to build global leaders, drive growth in the UK economy and deliver on our purpose of Helping Britain Prosper," said Robin Scher, Head of Strategic Investments at Lloyds Banking Group.