The insurer has made an initial $137m commitment to its newly formed Phoenix Venture Capital Partners unit, which will back ESG-minded entrepreneurs in the UK.
UK-headquartered insurance provider Phoenix Group has formed a corporate venture capital vehicle dubbed Phoenix Venture Capital Partners, putting up an initial capital allocation of more than £100m ($137m).
Asset manager Aberdeen Standard Investments will help run the fund, which will target local startups adhering to its environmental, social and governance (ESG) criteria in areas including clean energy, financial and health technologies in a bid to boost employment opportunities in the UK.
Founded in 1857 as The Pearl Loan Company, Phoenix…
