The Strategist

UK government to invest up to £375M in tech start-ups

03/01/2021 - 04:54

The UK government intends to create a fund money from which will be used to buy up stakes in promising technology start-ups in the country.

Martin Vorel via libreshot
Martin Vorel via libreshot
The £375 million fund will be part of the UK budget that will be presented on Wednesday, March 3, reports the Financial Times, citing its own sources.

The money from the fund will be allocated to buy shares in those start-ups whose developments can help the UK take a leading position in the global fintech market, but who need financial help to expand their businesses.

As the newspaper notes, each investment will range in the tens of millions of pounds. 

At the same time, the sums spent will be equivalent to private investors' investments in the same start-ups, which means it is likely to be a matter of investing in a small number of large companies.