UK National Wealth Fund

www.nationalwealthfund.org.uk

The National Wealth Fund invests in capital-intensive projects, businesses and assets across the UK that support the government's growth and clean energy missions. They operate across both private sector financing (£23.8bn allocated) and local authority services, providing loans, guarantees, equity investments, and advisory support.

Check Size

$25M+

Stages

Not specified

Focus Areas

Climate Cleantech, Energy, Industrials

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Investment Thesis

The National Wealth Fund operates as the UK government’s principal investor and policy bank, deploying capital at scale to support two strategic objectives: regional and local economic growth and tackling climate change. Their investment approach is guided by a ‘triple bottom line’ that balances helping deliver government missions, generating financial returns for the taxpayer, and crowding in private capital. They emphasize additionality and impact, ensuring their investments fill genuine market gaps and contribute positively to society and the environment.

What Sets Them Apart

Increased risk appetite following transition from UK Infrastructure Bank to National Wealth Fund, enabling support for more innovative and transformational projects
Lowest-cost source of finance for local authorities delivering infrastructure projects
Operational independence despite being wholly owned by HM Treasury
Expertise to invest across the entire capital structure (debt, equity, guarantees)
Regional Project Accelerator providing enhanced support for local government projects
Minimum ticket size of £25m for private investments, with selectivity in £25-50m range prioritizing highest mission impact