Autonomous vehicle firm Oxa taps BP, Nvidia in $103m funding round Tech British autonomous vehicle firm Oxa has raised $103m (£77m) in a fresh funding round after attracting support from the world’s most valuable tech firm, Nvidia. The Oxford-based business, formerly known as Oxbotica, completed the Series D raise with backing from the government’s National Wealth Fund as well as from the venture arm of energy giant [...]
Reform vow to create new ‘wealth fund’ using pension schemes Politics Reform UK has pledged to create a new “British Sovereign Wealth Fund” using local government pension schemes as part of Richard Tice’s first policy package as the party’s spokesman for business, trade and energy. Reform has vowed to wrap various arms of government, including housing and energy, into one office that focuses on growth, job [...]
Public finance bodies need more clarity, says boss of Reeves’ wealth fund Economics The boss of Rachel Reeves’ flagship wealth fund has admitted British entrepreneurs want more clarity across public finance bodies as concerns rise over the growing number of institutions. Former RBS boss Oliver Holbourn, who the Chancellor appointed last July to lead the National Wealth Fund (NWF), said “people want more confidence in who they’re going [...]
Reeves’ £28bn wealth fund under fresh scrutiny November 13, 2025 Rachel Reeves’ flagship National Wealth Fund has come under scrutiny after an audit identified “weaknesses” in the multi-billion pound vehicle’s risk controls. An audit of the National Wealth Fund (NWF) pointed to potential failures in the effectiveness of risk, management, governance and internal controls. Whilst the findings from the report confirmed “improvements have taken place”, [...]
Reeves’ National Wealth Fund faces ‘very challenging’ growth goal October 28, 2025 Rachel Reeves faces an uphill battle as she looks to use her National Wealth Fund to ramp up the government’s economic growth mission, top MPs have warned. The Chancellor has touted the new unit as a growth-focused initiative that would unlock over £70bn in private investment. But in a new Treasury Select Committee report, the group’s [...]
Unlock pension funds to power up UK infrastructure October 7, 2025 Unlocking capital from pension funds could power up our infrastructure while also providing better returns for customers, writes Mike Eakins.
National Wealth Fund pumps millions into battery storage developer August 27, 2025 The National Wealth Fund has joined forces with two investment firms as part of a £500m venture to enhance the UK’s battery storage facilities. The consortium – including infrastructure asset manager Equitix and Australian pension fund Aware Super – will “build, own and operate grid-scale battery storage assets” via an investment in developer Eelpower Energy. [...]
Rachel Reeves’ matchmaker moment July 23, 2025 Finance bros and gals are often seen oozing confidence as they strut their stuff around the streets of the City of London, imagining they’re the main characters on hit show Industry. But it would be a mistake to assume these investor strategists, expert consultants and risk analysts are libertarian dreamers, swashbuckling Reagan fanatics and small-state [...]
National Wealth Fund to put £28m into carbon capture project July 7, 2025 A government -backed fund is pledging more than £2 for a carbon capture project. Energy secretary Ed Miliband has said that workers in “Britain’s manufacturing heartlands” will benefit from the investment in the Peak Cluster works. Peak Cluster is working towards a pipeline that will take carbon emissions from cement and lime companies in the [...]
National Wealth Fund boss calls for public finance consolidation July 1, 2025 The boss of Labour’s National Wealth Fund has urged the government to remain open to consolidation of public finance institutions in a bid to ease confusion for the private sector. In a hearing on Tuesday, the chief executive of the National Wealth Fund (NWF) John Flint told MPs he would “encourage” the Treasury “not to [...]