Early-stage investment arm of Legal & General Group (est. 1836, FTSE 100). Founded 2013. Part of unified L&G Asset Management (merged LGIM + LGC in 2024). Portfolio: Advanced Electric Machines, Kensa Heat Pumps, POD Point, Brill Power, SunRoof. Team: 16 ppl incl. 8 partners. AUM: £64.8bn+ managed across private assets; VC component within broader £1.1tn L&G AUM. 4 portfolio exits (acquisitions), 1 IPO. Co-invests with Barclays, others.
Investment Focus
Investment Thesis
Long-term patient capital investing from L&G balance sheet. Focus: housing, infrastructure, cleantech, fintech, university spinouts. Series A-stage primary entry. UK/EU emphasis. Co-invests with institutional partners. Merged with LGIM 2024. Portfolio of 20 cos; £16.8bn capital deployed by LGC + partners. Target 10-12% blended returns. Avoids: early-stage consumer, short-term trading. Distinctive: insurance backing provides unique patient capital advantage; access to institutional co-investment.
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