UK Innovation Investment Fund
The creation of the UK Innovation Investment Fund was announced on 29 June 2009. The fund will invest in technology based businesses with high growth potential. It will focus on investing in growing small businesses, start ups and spin outs, in digital and life sciences, clean technology and advanced manufacturing.
The two funds have a combined total of £325m to invest at first closing, including the Government's £150m cornerstone investment. It is our aim for both funds to attract additional private funds before final closing, likely to be 9-18 months after first closing.
The Hermes Environmental Innovation Fund has £125m to invest at first closing. This fund is aimed at increasing the efficient use of resources and is a major boost in the transition to a low-carbon economy. Hermes is investing £75m alongside £50m from UKIIF. It has committed to investing in WHEB Ventures’ cleantech fund.
The EIF UK Future Technologies Fund has £200 million to invest at first closing. The fund will invest in a range of technologies such as: life sciences, digital technology and advanced manufacturing. EIF is investing up to £100 million into the fund alongside an investment of £100 million from the Government. It has committed to investing in DFJ Esprit and Acton Capital Partners.