Wayve and Elevenlabs

Schroders Capital's UK Innovation Long-term Asset Fund (LTAF) has successfully deployed over £100 million into various British-based tech and life sciences scale-ups, including prominent examples like autonomous vehicle unicorn Wayve and deeptech darling Elevenlabs. This landmark investment, part of a broader £500 million fund raised with support from Standard Life and the British Business Bank, marks the first significant capital injection by the UK's pioneering venture capital vehicle designed for pension funds, aiming to stimulate growth in high-potential domestic firms.

Summary of transaction details:

• Value: £100,000,000 GBP
• Sector: DeepTech & AI, Healthcare & Biotech
• Advisor: None mentioned
• Key Entities: Schroders Capital (Investor), UK Innovation LTAF (Fund), Wayve, Elevenlabs, Luminance, Aavantgarde Bio (Target Companies)
• Location: United Kingdom

Note: This deployment aligns with a government-backed push to encourage British pension funds to invest more in non-listed, fast-growing domestic companies, diversifying their portfolios and providing crucial capital for innovation across critical industries.