Schroders Capital commits £100m to UK innovations via new LTAF

Schroders Capital has committed over £100m to 19 innovative investments across artificial intelligence (AI) and biotech companies on behalf of the UK Innovation Long-Term Asset Fund (LTAF), the first structure of its kind for UK venture capital.

Designed to facilitate access to new UK firms for institutional investors, including defined contribution (DC) pension schemes, the fund is particularly focused on technology and life sciences.

Local Government Pension Schemes, including the London Borough of Lambeth Pension Fund, have invested £68m in the fund so far.

New investments include ElevenLabs, an AI research and product company which powers “conversational agents” and built the first human-like AI voice models, as well as Synthesia, an AI video communication platform for business, used by more than 65,000 companies worldwide.

On the biotech side, the LTAF has invested in companies including AAVantgarde Bio, a biopharma firm developing gene therapies to treat inherited retinal diseases, Kinaset Therapeutics, which is working towards treatment for serious respiratory diseases, and Artios Pharma, developing novel cancer therapeutics targeting difficult-to-treat cancers.

Schroders Capital’s head of UK venture investments, Harry Raikes, said: “We are proud to be bringing the best of the UK innovation economy to UK pensions. With a track record in venture capital investing across almost three decades, the strength and depth of our partner network enables unique access to the best founders and funds.

"These companies are at the forefront of high-impact, world-class innovation, tackling enduring social need – from critical research into medical therapies, to powering the future of our essential industries.”

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