National Wealth Fund
Overview
The National Wealth Fund is a UK sovereign wealth fund established in October 2024 to mobilize private capital for clean energy and industrial transformation, supporting long-term regional growth. It operates at arm's length from the government under a Statement of Strategic Priorities for the 2024 to 2029 Parliament. The fund has up to £27.8 billion of public capital announced for deployment through equity, loans, guarantees, and local-authority lending, with the objective of 'crowding in' larger volumes of private investment. Its activities complement other UK institutions, including the British Business Bank for small and medium-sized enterprises and Great British Energy for power-sector projects. Analysts describe the fund as a national investment vehicle rather than a classic sovereign wealth fund, and note that outcomes will depend on governance, project pipelines, and wider planning and grid reforms. The fund's strategic direction, as outlined in the Chancellor's Statement of Strategic Priorities, focuses on clean energy, advanced manufacturing, digital technologies, and transport as priority sectors. Investments are directed towards projects like carbon capture, green hydrogen, gigafactories, green steel, and ports across the United Kingdom. The fund aims to support the government's growth and clean energy missions, crowd in significant private capital over time, and generate a return for the taxpayer. In March 2025, the Chancellor issued a Statement of Strategic Priorities to the National Wealth Fund, setting its strategic direction and priorities for this Parliament. The statement confirms the fund's strategic objectives and sets out priority areas for investment and partnership working. The Chancellor also announced that the National Wealth Fund could also be spent on defence. The National Wealth Fund is the trading name of the National Wealth Fund Limited, a private limited company registered in England and Wales, wholly owned by HM Treasury. It is not a banking institution and does not operate as such. It is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).
Investment Focus
- Projects must meet the fund's investment principles
- Projects must be based in the UK
- For private sector deals, the minimum financing required is £25 million
Portfolio Companies
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Unlock full contacts →Frequently asked questions about National Wealth Fund
What sectors does National Wealth Fund invest in?
National Wealth Fund invests in Technology, Energy, Infrastructure, Transportation and Manufacturing, and is based in England, United Kingdom. National Wealth Fund is listed as a sovereign wealth fund in the ConnectSafely investor database.
What stage does National Wealth Fund invest at?
National Wealth Fund backs companies at Growth, Late Stage, Pre-IPO, Buyout, Turnaround and Distressed.
Which regions does National Wealth Fund invest in?
National Wealth Fund invests across United Kingdom.
What companies has National Wealth Fund invested in?
National Wealth Fund's portfolio includes Cornish Metals Inc, Quickline Communications, ScottishPower, Rolls-Royce SMR and Good Growth Fund.
Last updated · Source: ConnectSafely investor database
