United Kingdom · Investor

National Wealth Fund

Last cheque observed Oct 2026; 25 cheques on record.

Deploying nowGovernment

Pre-seedSeedSeries AHardtechNew MaterialsPhotovoltaic

Deploying now
69%of best year11cheques in 12 months, 25 on record
Since the last cheque9days00hrs00min00sec
Median round$132MCheque size, as they say$31M – $100MRounds led0 of 25Sole investor10 roundsMostly inUnited Kingdom, 96%
Pitch National Wealth Fund

National Wealth Fund highlights

  1. 01

    11 cheques in the last 12 months

  2. 02

    Mostly Debt and Venture: 88% of its rounds

  3. 03

    Sole investor in 10 rounds, median $126M

What they do

We're a mission-driven investor with the capital, expertise and ambition to unlock the UKFrom their own website
Type
Government (from a list, unverified)
Cheque size
$31M – $100M as they say
Stages
Pre-seedSeedSeries ASeries BGrowth
Sectors
HardtechNew MaterialsPhotovoltaic
Based in
Leeds, United Kingdom
Cold pitches
Not stated

The record

Every round we can evidence, newest first25 appearances

  1. 2026

    6 rounds

  2. Oct
    Cornish MetalsGB · Google News search$180MWith 4 others
  3. May
    Rowden TechnologiesSeed · GB$34MSole investor
  4. May
    InstaVoltDebt · GB$335MWith 2 others
  5. Apr
    Rolls-Royce SMRDebt · GB$805MSole investor
  6. Apr
    Pulse Clean EnergyDebt · GB$71MWith 3 others
  7. Feb
    PulpexVenture · GBUndisclosedSole investor
  8. 2025

    12 rounds

  9. Dec
    GigaclearDebt · GB$107MWith 2 others
  10. Dec
    ZeroAviaVenture · USUndisclosedWith 5 others
  11. Nov
    RoamDebt · GB · Firms' own news pages$85MWith 2 others
  12. Nov
    Pentland Floating Offshore Wind FarmVenture · GB$196MSole investor
  13. Nov
    Highview PowerVenture · GB$171MWith 2 others
  14. Sept
    Fidra EnergyDebt · GB$804MWith 4 others
  15. Sept
    NetomniaDebt · GB$190MWith 1 other
  16. Sept
    Cornish LithiumVenture · GB$47MWith 2 others
  17. Aug
    EelpowerVenture · GB$675MSole investor
  18. Jul
    GridServeGrowth · GB$134MWith 2 others
  19. Jun
    Wessex InternetVenture · GB$68MSole investor
  20. Jan
    Connected KerbVenture · GB$81MSole investor
  21. 2024

    5 rounds

  22. Sept
    XLCCDebt · GB$27MSole investor
  23. Sept
    GeoPuraDebt · GB$29MWith 3 others
  24. Aug
    FibrusDebt · GB$132MWith 3 others
  25. Jul
    WildanetDebt · GB$35MWith 1 other
  26. May
    HaventusDebt · GB$126MSole investor
  27. 2023

    2 rounds

  28. Dec
    Pragmatic SemiconductorSeries D · GB$229MWith 3 others
  29. Jul
    NexfibreDebt · GB$327MSole investor

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

Who they invest alongside

The investors most often in the same rounds as National Wealth Fund. A count of rooms they were both in, not a relationship either has claimed.

Recently backed

The latest companies National Wealth Fund put money into.

Quick answers about National Wealth Fund

What does National Wealth Fund invest in?

National Wealth Fund invests most often at Debt and Venture (88% of the rounds on record), in sectors such as Hardtech, New Materials and Photovoltaic.

How active is National Wealth Fund?

25 investments on record, 11 of them in the last 12 months. The most recent was in Oct 2026.

What has National Wealth Fund invested in recently?

Its most recent investments on record: Cornish Metals (Undisclosed round, Oct 2026), Rowden Technologies (Seed, May 2026) and InstaVolt (Debt, May 2026).

How big are National Wealth Fund's cheques?

The median round it joins is $132M. It says it writes cheques of $31M to $100M.

Does National Wealth Fund lead rounds?

Rarely, if at all: none of its 25 investments on record names it as the lead.

Where does National Wealth Fund invest?

Most of the companies it backs are in the United Kingdom (96%).

Is National Wealth Fund investing now?

Yes: it is actively investing, with 11 investments in the last 12 months.

Who does National Wealth Fund invest alongside?

Most often ABN AMRO Fund (3 rounds together), CIBC (3 rounds together) and Santander (3 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. How we count · Report a correction · Is this your firm? Claim it