View more on these topics

Woodford in Govt talks over £250m tech start-up fund

Neil Woodford is in talks with the government to allocate capital to a initiative to back early-stage tech ventures outside London.

The British Business Bank is working with other institutional funds to launch the £250m investment company, which will be approximately 50 per cent backed by the taxpayer, The Times reports.

It will invest between £5m and £10m in fast-growing firms outside the UK.

The fund, which has been in the pipeline since before Brexit, is expected to launch before the year’s end.

Woodford would make allocations of capital from his existing portfolios.

A source told The Times the fund was being launched to direct funding towards companies that do not get noticed, “not because they feel sorry for companies outside London”.

Woodford has been a champion of science and technology in the past, describing the UK’s excellent university research in these areas as ripe for commercialisation.

The Woodford Patient Capital Trust, launched in April 2015, has had a difficult first year with assets falling 9.1 per cent over the last 12 months while its share price has dropped 18.2 per cent.



Man and machine: A glimpse into the future of financial advice

Technology is waiting in the wings that could overhaul the advice process and dramatically change the way firms talk to clients. These developments are not decades away, nor mere years away. Some of these radical systems are already here, making their way to the UK from US and European markets. They include systems that map […]


Raft of objections set to delay Priips rules

MEPs and industry bodies are pushing for changes to key information documents under Priips in a bid to deliver greater transparency for retail investors. A draft motion for resolution from the European Parliament’s Economic and Monetary Affairs committee, which will object to proposed regulatory technical standards for retail investors set by the EU Commission, is […]

Platforum head of intermediary research Miranda Seath

Powering the platforms: Enlisting in SEI’s ‘platform bootcamp’

This week’s look at the technology behind the platforms focuses on SEI, the Philadelphia-based firm that powers True Potential, Fusion and Towry’s offerings in the UK. SEI’s model and approach differs from the technology firms powering the adviser wrap platforms: Bravura, FNZ, GBST and IFDS. It is familiar to many because of its trading, custody […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment