Providing financing solutions to new businesses.
Legal & General Capital has committed £600m in this sector (including Venture Capital and SME Finance) with a current portfolio of approximately £400m invested to date.
To facilitate the broader Legal & General Group strategy, Legal & General Capital continues to invest in start-up businesses across the UK through Venture Capital managers and direct stakes in innovation and growth companies that are strategically aligned with our business. Legal & General has invested with 8 venture capital managers who have now invested in over 250 startups, predominantly in the UK. This investment strategy will continue to evolve as we look to deploy more of our own funds across the UK, Europe and Globally.
Legal & General owns 40% of Pemberton, a leading mid-market European lender. Pemberton has stepped in where banks have stepped back, to lend to Small and Medium Enterprises across Europe. Pemberton have now over 4bn euros committed Assets Under Management.
In July 2018 Legal & General Retirement Retail invested in Care Sourcer, the care comparison and matching site, participating in a £8.5m funding round alongside existing investor Accelerated Digital Ventures, a venture manager Legal & General Capital backed in December 2016 as part of its venture capital strategy. The new funding was used to expand Care Sourcer’s care matching technology UK-wide, helping to tackle the crisis in care that costs NHS England £8m every day.
In November 2016, LGC invested in Accelerated Digital Ventures (ADV). ADV is an innovative venture platform funding digital businesses across all stages of the funding cycle, from entry to exit. ADV is investing the initial £150m in digital start-ups, through its platform offering access to capital, coaching, customers and corporates. Targeting existing digital technology hubs - including Belfast, Bristol, Cambridge, Cardiff, Edinburgh, Glasgow, London, Manchester, Newcastle, Oxford and Sheffield - it aims to provide equity capital to help thousands of business startups to become globally successful UK scale-ups.