Key Takeaways
- • Railpen, the £35bn UK retirement scheme and a longtime venture capital investor, is targeting more UK venture investment with a deep-tech focus, according to PEI Private Equity.
- • Head of UK productive assets Julia Diez says the scheme works with external general partners at the seed stage.
- • The allocation push signals continued pension-fund appetite for early-stage UK innovation exposure.
Summary
Railpen, the £35bn UK retirement scheme, is looking to expand its venture capital exposure in the UK with a particular emphasis on deep-tech, according to a PEI Private Equity report by Joe Marsh dated 28 August 2026. The scheme has a long track record as a venture investor.
Julia Diez, head of UK productive assets at Railpen, told PEI that the fund works with external general partners at the seed stage. This approach lets the pension scheme access early-stage companies through specialist managers rather than building direct origination capacity in-house.
The article is tagged under allocations, deep tech and pensions, reflecting the strategic direction of the allocation. The source article is brief, and further detail on target allocation size, specific managers, or timing was not included in the material reviewed.
Julia Diez, head of UK productive assets at Railpen, told PEI that the fund works with external general partners at the seed stage. This approach lets the pension scheme access early-stage companies through specialist managers rather than building direct origination capacity in-house.
The article is tagged under allocations, deep tech and pensions, reflecting the strategic direction of the allocation. The source article is brief, and further detail on target allocation size, specific managers, or timing was not included in the material reviewed.
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