A search has been launched for a manager to run HS2's new £50m public-private capital investment fund for innovation.
HS2 Ltd said expressions of interest are sought for a fund manager to oversee its new Innovation Investment Fund from organisations in the corporate venture capital sector with FCA accreditation.
The fund will be formed as a partnership between HS2 Ltd, the Department for Transport and companies from HS2’s supply chain.
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HS2 said 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.
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."
HS2’s Innovation Investment Fund is due to launch in spring 2023.
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