Key Takeaways
- • IP Group plc (LON:IPO) has been appointed by Aberdeen Investments to manage a UK venture growth portfolio within the CG Scottish Widows Growth LTAF, a workplace pension vehicle.
- • The mandate makes Scottish Widows one of the first UK workplace pension providers to actively allocate member capital to UK venture growth.
- • Initial investments span quantum computing, advanced battery technology and AI-enabled healthcare, with named companies including Oxford Quantum Circuits, Quantum Motion, Nyobolt and Genomics Limited.
- • The release positions the model as expandable, aiming to increase long-term pension capital flowing into high-growth UK businesses as part of the fund's broader global private markets remit.
Summary
IP Group plc has been appointed by Aberdeen Investments to manage a UK venture growth portfolio within the CG Scottish Widows Growth LTAF, according to the company's announcement. Aberdeen Investments manages the growth sub-fund for Scottish Widows and has delegated the UK venture portfolio to IP Group as part of the fund's broader global private markets remit. The arrangement is designed to bring private markets exposure to workplace pension savers.
The parties describe the mandate as one of the first active allocations by a UK defined contribution workplace pension proposition to back British science and technology companies. Scottish Widows, Aberdeen Investments and IP Group said the model can be expanded over time, increasing the flow of long-term pension capital into high-growth UK businesses. The mandate is intended to address a constraint in the UK innovation economy: the availability of meaningful follow-on funding for companies ready to commercialise and expand.
Initial investments are expected to include Oxford Quantum Circuits, which is building commercially available quantum computing systems; Quantum Motion, which is developing scalable silicon-based quantum computers; Nyobolt, whose ultra-fast-charging battery technology targets high-performance energy storage; and Genomics Limited, which applies AI, machine learning and large-scale genetic datasets to preventative healthcare and drug discovery. The release did not disclose deal sizes or fund commitments.
Peter Fitzgerald, Chief Investment Officer at Scottish Widows, said the proposition gives workplace pension customers access to investment opportunities that have traditionally been available mainly to institutional investors. Nalaka De Silva, Head of Private Markets Solutions at Aberdeen Investments, said the UK lacks scientific excellence and entrepreneurship but has lacked sufficient pools of patient domestic capital. Greg Smith, Chief Executive Officer of IP Group plc, said the partnership creates a pathway for millions of pension savers to participate in value created by the next generation of technology leaders.
The parties describe the mandate as one of the first active allocations by a UK defined contribution workplace pension proposition to back British science and technology companies. Scottish Widows, Aberdeen Investments and IP Group said the model can be expanded over time, increasing the flow of long-term pension capital into high-growth UK businesses. The mandate is intended to address a constraint in the UK innovation economy: the availability of meaningful follow-on funding for companies ready to commercialise and expand.
Initial investments are expected to include Oxford Quantum Circuits, which is building commercially available quantum computing systems; Quantum Motion, which is developing scalable silicon-based quantum computers; Nyobolt, whose ultra-fast-charging battery technology targets high-performance energy storage; and Genomics Limited, which applies AI, machine learning and large-scale genetic datasets to preventative healthcare and drug discovery. The release did not disclose deal sizes or fund commitments.
Peter Fitzgerald, Chief Investment Officer at Scottish Widows, said the proposition gives workplace pension customers access to investment opportunities that have traditionally been available mainly to institutional investors. Nalaka De Silva, Head of Private Markets Solutions at Aberdeen Investments, said the UK lacks scientific excellence and entrepreneurship but has lacked sufficient pools of patient domestic capital. Greg Smith, Chief Executive Officer of IP Group plc, said the partnership creates a pathway for millions of pension savers to participate in value created by the next generation of technology leaders.
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