TLDR:
- Aviva Ventures has joined Aviva Investors to support UK pension VC investment reform.
- Ben Luckett, the head of Aviva Ventures, is now managing director of the VC and strategic capital division at Aviva Investors.
Aviva Ventures, the corporate venture capital arm of UK insurer Aviva, has merged with Aviva Investors to align with the UK government’s pension investment reforms. The reorganization allows 5% of workplace pension funds to be invested in unlisted companies. Ben Luckett, the founding managing director of Aviva Ventures, has taken on the role of managing director of VC and strategic capital at Aviva Investors. This move combines venture capital and strategic capital capabilities to manage over £40bn in assets. Five full-time members of the Aviva Ventures team will be joining the new initiative. Aviva Ventures was established in 2016 with an initial capital of £100m, focusing on key areas like mobility, risk prevention, healthcare, financial, data, and AI technologies. In April of the previous year, Aviva committed an additional £150m to the CVC fund. The merger of Aviva Ventures and Aviva Investors aims to enhance the pension VC investment landscape in the UK and strengthen the company’s position in strategic areas.
