Milltrust International is set to launch a new $150m fund focusing on ‘Sustainable Prosperity’ as it seeks to scale up health, food and sustainability companies in the UK and around the world.
The British Innovation Fund II will target “high-impact, early stage companies” with links to the UK’s university sector.
Sustainable prosperity is the idea that economies can grow without causing irreparable climate damage.
The fund will follow on from Milltrust’s first British Innovation Fund, which also invested in the spin-out companies from the university sector.
The new fund, however, will “go further in actively supporting promising start-ups with cutting-edge IP capable of disrupting a range of industries”, with a focus on global food systems and health.
Milltrust CEO Simon Hopkins said the fund “represents a significant step forward in our strategy to foster Sustainable Prosperity across the globe, recognising the outsized positive impact that rapidly-growing, IP-rich companies can have”.
Milltrust International is an investment organisation co-headquartered in London and Singapore.
It has previously invested in Roslin Technologies, a “cutting-edge biotech company” in the cultivated meat industry, and Vaccitech, a vaccine developer at the University of Oxford’s Jenner Institute.
The new fund comes shortly after Milltrust Ventures, the venture investment arm of Milltrust International, launched a $300m Smart Protein Fund in January to help scale up new alternative meat companies.