The HS2 hybrid capital investment fund needs a fund manager to oversee the £50m fund, a joint endeavour between HS2 Ltd, the Department for Transport and HS2’s supply chain
HS2 Ltd has launched its search for a manager to run its new HS2 hybrid capital investment fund.
The public-private capital investment fund for innovation, is formed of a partnership between HS2 Ltd, the Department for Transport and companies from HS2’s supply chain and will total up to £50m.
The fund represents HS2’s new venture into the corporate venture capital sector
The fund manager will act on behalf of partnership members to invest in some of the UK’s brightest transport construction start-ups working to deliver Britain’s new high-speed rail network.
The initiative builds on HS2 Ltd’s successful Innovation Accelerator programme, which has nurtured construction tech start-ups in the UK.
The fund will focus on companies that drive innovative solutions to improve construction efficiency and reduce carbon emissions.
The HS2 hybrid capital investment fund will create opportunities across multiple sectors
Commenting, HS2 Ltd’s head of innovation Howard Mitchell, said:
“HS2 is a strategic national endeavour that is creating opportunities beyond the rail and construction industries, drawing skills, ingenuity and enterprise from across the economy to deliver Britain’s new high speed railway.
“The fund will invest in British start-ups and innovative SMEs, taking a small equity stake in their business, helping them to grow and scale their offering as well as adding value to the UK economy as they develop.”
The initiative builds on learnings from a similar Public-Private investment fund in the UK as well as funds operating in Germany, Israel, and the United States.
HS2’s Innovation Investment Fund is due to launch in Spring 2023.
