The UK Innovation Investment Fund (UKIIF), announced by the UK Government in June 2009, is a venture capital fund of funds that aims to drive economic growth and create highly skilled jobs by investing in innovative businesses where there are significant growth opportunities. The UKIIF attempts to mark a step change in the UK venture capital (VC) market by establishing a substantial fund of funds that will replicate the best US funds by making investments at all business stages, with the market scale that can build companies with global reach. The underlying funds within the UKIIF fund of funds will invest in technology based businesses in strategically important sectors to the UK including digital technologies, life sciences1, clean technology2 and advanced manufacturing.
This research provides an early assessment of the lessons learned in implementing and delivering the UKIIF ahead of the main evaluation and provides early indications of the extent to which it is addressing market failures in the UK VC market and contributing to business growth
