Aviva Investors has launched a venture and growth capital fund which aims to give investors better access to early-stage companies and technologies.
The fund has received an initial 拢150m commitment from Aviva, as it looks to open up investment opportunities in tech sectors to more than more than four million Aviva pension customers.
The Aviva Investors Venture & Growth Capital LTAF is the fourth to be launched by the asset manager under the Long Term Asset Fund (鈥楲TAF鈥�) regime.
鈥淎viva is investing more and more in the UK, to support growth and back Britain’s flourishing early-stage companies,鈥� said Dame Amanda Blanc, group CEO, Aviva.
鈥淭his new fund will provide vital finance to some of the UK鈥檚 most promising, high-growth businesses, aiming to deliver great returns for our customers.鈥�
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Aviva Investors Venture & Growth Capital LTAF is structured as an evergreen fund, providing injections of investment capital at repeating intervals and with no fixed lifespan to the fund.聽
The fund will invest across multiple venture and growth stages across the UK, Europe, and North America, with a focus on FinTech and InsurTech, HealthTech, science and technology, and climate and sustainability.聽
The new Fund expands Aviva Investors鈥� existing LTAF range, which includes three funds that together represent more than 拢3bn and provide investors with access to investment opportunities in private markets.
Mark Versey, CEO at Aviva Investors, added: 鈥淭his fund marks another step in our ambition to unlock the benefits of Private Markets for more investors, and to be the go-to provider for the UK鈥檚 DC and Wealth markets.聽
鈥淲e are incredibly pleased to expand our LTAF range further, making it easier for investors to allocate more to these asset classes and to enjoy the returns and diversification they can offer.鈥�