Phoenix Group (Phoenix), the UK’s largest long-term savings and retirement business, announces the launch of its first dedicated Venture Capital fund, “Phoenix Venture Capital Partners”, with an initial allocation in excess of GBP100 million.
This move is designed to enable Phoenix to construct portfolios that include exposure to Venture Capital for Phoenix Life Unit-Linked and With-Profits policyholders, diversifying into an asset class that has until now been largely reserved for institutional investors. This is the first allocation to Venture Capital in the policyholder funds, and the first allocation to Patient Capital in the Unit Linked funds.
Developed and administered with its strategic asset management partner Aberdeen Standard Investments, the fund will predominantly invest in disruptive and transformative early-stage UK based start-ups and businesses, with a thematic ESG approach within a number of sectors including Fintech, Green Energy and Healthcare, to provide attractive risk adjusted returns. The investments made through the newly created Venture Capital fund will help business to scale-up their companies and enable them to focus on growing out their workforce, whilst giving them access to the expertise that they require.
Read more at Private Equity Wire
