The UK’s state-owned development bank is supporting diversification of the UK’s investment and asset managers by seeding a new generation of fund managers. Its £400 million ($529.3 million) Investor Pathways Capital initiative, launched last year, deployed its first £90 million in 10 new early-stage and impact funds in order to help them bring in other investors and build track records.
Among the cohort: Future Impact Ventures invests in low-carbon technologies; Mustard Seed Fund backs companies addressing the effects of AI on energy, the workforce and other sectors; and Almanac Ventures supports industrial decarbonization and efficiency. Each manager is working to raise between £10 million and £20 million. Four of the 10 managers are from the UK’s racial minorities and six are women-led.
