Policy paper

National Wealth Fund: Mobilising Private Investment

The National Wealth Fund will mobilise billions of pounds of investment in the UK’s world-leading clean energy and growth industries and support the delivery of the government’s new Industrial Strategy.

• From: HM Treasury
• Published: 14 October 2024

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National Wealth Fund: Mobilising Private Investment (PDF)

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The National Wealth Fund (NWF) builds on the success of the former UK Infrastructure Bank. It will have a broader mandate, extending beyond infrastructure to support delivery of the wider industrial strategy in areas where there is an undersupply in private finance. 

At least £5.8 billion of the NWF’s capital will focus on the sectors announced in the manifesto: green hydrogen, carbon capture, ports, gigafactories and green steel. 

The NWF will be equipped with the products, mandate, and risk capital to catalyse private capital most effectively. It will be the UK’s new impact investor, funding impactful projects that would not have happened otherwise, and unlocking growth opportunities across the UK. 

This document sets out the key first steps in launching the National Wealth Fund and demonstrates the government’s ambitious drive to deliver economic growth across the whole of the United Kingdom.

Published 14 October 2024