Sovereign Investor of the Year 2026

SOVEREIGN AI AWARDS 2026People's Vote

Sovereign Investor of the Year

Recognising the investors who put capital and conviction behind British AI, so the companies building it can grow here. Twenty-one investors have made the shortlist. Read about each one, then cast your vote.

01Meet the shortlist02Cast your vote03Watch the live results

What we are looking for

A sovereign investor helps Britain build and own the AI it depends on. When you vote, think about:

  1. Backing British AI. Investment in UK-founded or UK-headquartered companies building AI, or the deep tech beneath it, such as chips, compute, quantum and robotics.
  2. Keeping capability in the UK. Helping companies scale while their headquarters, intellectual property, talent and jobs stay in Britain.
  3. Patient capital. Support beyond the first cheque, with follow-on funding through the growth stages where UK companies are most often sold overseas.
  4. Recent commitment. New funds, investments or follow-on rounds in UK AI and deep tech companies during the last 12 months.

The shortlist

Investors are listed in alphabetical order. Jump straight to one below.

Ahren Innovation Capital

Cambridge, London and Boston · Deep tech and deep science

Ahren is a deep tech and deep science investor set up in 2017 by Alice Newcombe-Ellis with a group of Science Partners, including Nobel laureates, who help to source, assess and support every company. It invests from early stage to pre-IPO across AI, genetics, robotics, space and energy.

Backing sovereign UK capability

Born out of the Cambridge science base, Ahren was an early backer of Graphcore, the Bristol AI chip company, and pairs long-term capital with scientists who created some of Britain's most valuable technologies. Its model is built to turn UK breakthrough science into companies of global scale.

ahren.co.uk ↗

Amadeus Capital Partners

Cambridge and London · Deep tech since 1997

Founded in 1997 by Anne Glover and Hermann Hauser, Amadeus has raised more than $1.3 billion and backed over 190 technology companies. Its exits include VocalIQ, acquired by Apple, and Icera, acquired by NVIDIA.

Backing sovereign UK capability

Amadeus backs UK intellectual property from the Golden Triangle across AI, quantum and semiconductors, with a portfolio that has included Graphcore, PolyAI, Riverlane, Slamcore and Unlikely AI. Its £110 million Amadeus V fund was cornerstoned by British Patient Capital, and partner Amelia Armour joined the government's Semiconductor Advisory Panel in 2023.

amadeuscapital.com ↗

Atlantic Bridge

London, Dublin, Munich, Paris and Palo Alto · Deep tech growth

Atlantic Bridge is a growth equity technology firm with over €1 billion under management across eight funds and around 120 portfolio companies, investing in deep tech across Europe, the UK and the US.

Backing sovereign UK capability

From its London office it backs UK deep tech including Cambridge-based Secondmind, which applies machine learning to engineering, and Cambridge Mechatronics, with a focus on AI, quantum, semiconductors and cybersecurity. Its cross-border platform helps UK companies win international customers while building their technology at home.

abven.com ↗

Cambridge Innovation Capital

Cambridge · Deep tech and life sciences

Launched in 2013 with a privileged relationship with the University of Cambridge, CIC manages around £0.6 billion and has backed more than 45 companies, alongside over £3.2 billion of co-investment.

Backing sovereign UK capability

Its £100 million Opportunity Fund, anchored by Aviva Investors and British Patient Capital, backs UK scaleups at the point where Britain often loses its best companies, starting with Pragmatic Semiconductor and quantum error correction company Riverlane. The portfolio also includes Cambridge GaN Devices and photonic computing company Salience Labs.

cic.vc ↗

Concept Ventures

London · Pre-seed

Concept is Europe's largest dedicated pre-seed fund. It closed an $88 million second fund in 2025, leads most of its rounds with first cheques of around $1 million, and backed AI voice company ElevenLabs at pre-seed.

Backing sovereign UK capability

Concept writes the very first cheque for UK founders, with a portfolio that includes defence software company Arondite, real-time AI avatar company Anam, robotics simulation company VSim and chip design start-up Tattvam AI. Its first fund was cornerstoned by the British Business Bank.

concept.vc ↗

Crane Venture Partners

London · Inception to seed

Founded by Scott Sage and Krishna Visvanathan, Crane backs technical founders building foundational technology and infrastructure, from inception through to seed, with a team spanning London, San Francisco, New York, Singapore and Bangalore.

Backing sovereign UK capability

Crane backed James Dacombe from his first company, CoMind, to OLIX, the London and Bristol AI chip company that has since drawn investment from the UK's Sovereign AI programme. Its £112 million second fund set out to put around half of its capital into UK companies.

crane.vc ↗

Dawn Capital

London · B2B software, Series A and B

Founded in London in 2007, Dawn is Europe's largest specialist B2B software investor, deploying its $620 million Dawn V fund and an $80 million follow-on fund. Its exits include Mimecast and iZettle.

Backing sovereign UK capability

Dawn led the Series B of London decision intelligence company Quantexa and has backed it through to unicorn status, with technology used by governments and banks to tackle fraud and financial crime. British Patient Capital is an investor in Dawn, which continues to back UK AI and security companies such as Inforcer.

dawncapital.com ↗

Episode 1 Ventures

London · Pre-seed and seed

Episode 1 is a London seed fund, founded in 2013, investing £500,000 to £3 million in B2B software and deep tech start-ups. 73% of its portfolio companies go on to raise a Series A, and it was an early backer of Carwow, Zoopla and Robin AI.

Backing sovereign UK capability

Its £76 million third fund was cornerstoned by British Patient Capital and the National Security Strategic Investment Fund. Episode 1 was an early investor in quantum software company Phasecraft and backs UK companies such as RevEng.AI, which uses AI for software security, and CloudNC, which uses AI in precision manufacturing.

episode1.com ↗

IQ Capital

Cambridge and London · Deep tech, pre-seed to growth

Founded in Cambridge, IQ Capital is a dedicated deep tech investor with more than $1 billion under management. It has backed over 200 founders and achieved exits to Apple, Meta, Google and Oracle.

Backing sovereign UK capability

IQ raised $400 million in 2023 across Fund IV and a Growth Fund that can follow on with up to $40 million per company, so UK deep tech can scale without selling early. Its portfolio includes Thought Machine, Speechmatics, Nu Quantum, Nyobolt and RevEng.AI.

iqcapital.vc ↗

Kindred Capital

London · Pre-seed and seed

Kindred pioneered equitable venture, where every founder it backs becomes a co-owner of the fund and shares in its profits. It runs a partner-only team and has backed companies including Paddle and Five AI.

Backing sovereign UK capability

Kindred co-led the $15 million seed round of London AI inference chip company Fractile alongside the NATO Innovation Fund and Oxford Science Enterprises, and Fractile has since raised $220 million. It also backs London AI lab Latent Labs and warehouse robotics company Dexory.

kindredcapital.vc ↗

LocalGlobe

London · Seed, with Latitude for growth

Founded by Robin and Saul Klein, LocalGlobe is one of the UK's most active seed investors and puts most of its capital into UK companies. Its sister fund, Latitude, backs companies from Series B onwards.

Backing sovereign UK capability

LocalGlobe led the seed round of Phasecraft, the quantum software company founded by UCL and University of Bristol academics, and backs UK AI companies such as Wonder Studios. Latitude lets it keep supporting its breakout British companies through the growth stage.

localglobe.vc ↗

MMC Ventures

London · AI and data, seed to Series B

MMC is a long-standing London early-stage investor known for its research on AI. It was the first commercial UK venture firm to become a B Corp, and runs a £100 million Scale-Up Fund.

Backing sovereign UK capability

MMC was an early backer of Synthesia and invests across UK AI and deep tech, including Signal AI, Slamcore, Stanhope AI and Agile Analog. Its EIS fund has backed 75 companies since 2010, and its Scale-Up Fund keeps supporting them once they outgrow EIS.

mmc.vc ↗

Molten Ventures

London · Series A to growth, LSE listed

Formerly Draper Esprit, Molten is a London Stock Exchange listed venture firm with a gross portfolio of around £1.5 billion across more than 80 companies, including Thought Machine and ICEYE.

Backing sovereign UK capability

As a listed investor, Molten gives public markets a route into British technology. It invests in deep tech and AI infrastructure, backed UK satellite company Satellite Vu, and invests in specialist UK seed funds such as Episode 1.

moltenventures.com ↗

NATO Innovation Fund

Multi-sovereign · Defence, security and resilience

The NATO Innovation Fund is a €1 billion fund backed by 24 NATO allies, including the UK. It invests over a 15-year horizon in dual-use deep tech for defence, security and resilience.

Backing sovereign UK capability

Three of its first four direct investments were British: London AI chip company Fractile, advanced materials company iCOMAT and Welsh in-space semiconductor company Space Forge. It also invests through specialist fund managers to strengthen deep tech capital across the alliance.

nif.fund ↗

Northern Gritstone

North of England · University spinouts

Northern Gritstone backs science and technology businesses from the Northern Arc universities of Leeds, Liverpool, Manchester and Sheffield. Chaired by Lord Jim O'Neill, it has £382 million of permanent capital.

Backing sovereign UK capability

It has made 51 investments since 2022, including a £23 million Series A extension for Leeds photonic computing company Optalysys and an investment in Literal Labs, whose logic-based AI models cut energy use. Its focus for 2026 is the computing infrastructure and chips that power AI.

northern-gritstone.com ↗

Notion Capital

London · Business software, venture and growth

Notion is a London venture and growth investor focused on European business software, with more than $1 billion under management and over 150 investments, including GoCardless, Paddle and Mews.

Backing sovereign UK capability

Notion closed a $130 million growth fund in 2025 to tackle Europe's growth capital gap, so its strongest companies can keep scaling here. Between 2018 and mid 2025 it invested in 54 UK companies, including advanced manufacturing company Isembard, Vortexa and Griffin.

notion.vc ↗

Octopus Ventures

London · Seed to growth

Octopus Ventures is one of the largest and most active venture investors in the UK and Europe. It manages around £2 billion, invests about £200 million a year, and has backed successes including Zoopla and WaveOptics.

Backing sovereign UK capability

Octopus has backed UK AI talent for over a decade, from SwiftKey and Magic Pony to quantum computing company ORCA Computing, which sold a quantum computer to the Ministry of Defence. It runs a dedicated £40 million deep tech pre-seed fund to back UK research.

octopusventures.com ↗

Oxford Science Enterprises

Oxford · University of Oxford spinouts

OSE builds companies from University of Oxford research and has supported more than 100 spinouts across AI, quantum, robotics, life sciences and health tech, including Oxford Ionics, YASA and Latent Logic.

Backing sovereign UK capability

OSE is a long-term backer of Oxford Quantum Circuits, whose £260 million round in 2026 was Europe's largest private quantum raise, and co-led the seed round of AI chip company Fractile. It also backs post-quantum security company PQShield and ORCA Computing.

oxfordscienceenterprises.com ↗

Parkwalk Advisors

London · University spinouts through EIS

Part of IP Group, Parkwalk is the UK's most active investor in university spinouts and a leading EIS fund manager, having backed more than 180 companies from Oxford, Cambridge, Imperial, Bristol and other universities.

Backing sovereign UK capability

Parkwalk gives private investors a route into British deep tech, backing AI, quantum and semiconductor spinouts, including an early investment in quantum software company Phasecraft. With Northern Gritstone it runs the Northern Universities Venture Fund for spinouts from Leeds, Liverpool, Manchester and Sheffield.

parkwalkadvisors.com ↗

Playfair Capital

London · Pre-seed

Founded in 2013 by Federico Pirzio-Biroli, Playfair is a pre-seed specialist that makes a handful of high-conviction investments each year from its $70 million third fund. 78% of its companies go on to raise a Series A.

Backing sovereign UK capability

Playfair was an early backer of Thought Machine and backs UK applied AI companies such as Qureight, which uses AI for lung and heart imaging, and counter-disinformation platform Refute. Recycling robotics company Recycleye, which it backed, was acquired in 2026.

playfair.vc ↗

Sovereign AI Fund

UK Government · Sovereign venture fund, pre-seed to growth

Sovereign AI is the UK Government's own venture fund for British AI. Launched in April 2026 and run by the Sovereign AI Unit, it has £500 million to invest in UK AI start-ups from pre-seed to growth, typically writing equity cheques of £1 million to £10 million on market terms alongside private investors. The unit is chaired by James Wise of Balderton Capital, with Joséphine Kant as Head of Ventures and Suzanne Ashman as Managing Partner of the investment committee.

Alongside capital it offers what private funds cannot: up to one million GPU hours per company on the UK's national AI supercomputers, fast-tracked visas for AI talent, access to curated national datasets and the UK research base, and contracts of up to £10 million. Its priority areas are compute and infrastructure, foundation models, health and life sciences, scientific discovery, and trust, safety and assurance.

Backing sovereign UK capability

Its first equity investment was Callosum, the Cambridge-founded company that lets AI models run across different chip architectures, followed by Ineffable Intelligence (alongside the British Business Bank), Isomorphic Labs, CuspAI and AI chip company OLIX. Six British companies, including Cosine, Odyssey and Prima Mente, also received over three million GPU hours of sovereign compute. The fund is still early, but its whole purpose is to help British AI companies scale while staying headquartered in the UK.

sovereignai.gov.uk ↗

Live results

Votes so far. Results are updated regularly while voting is open.

Ahren Innovation Capital
0
Amadeus Capital Partners
0
Atlantic Bridge
0
Cambridge Innovation Capital
0
Concept Ventures
0
Crane Venture Partners
0
Dawn Capital
0
Episode 1 Ventures
0
IQ Capital
0
Kindred Capital
0
LocalGlobe
0
MMC Ventures
0
Molten Ventures
0
NATO Innovation Fund
0
Northern Gritstone
0
Notion Capital
0
Octopus Ventures
0
Oxford Science Enterprises
0
Parkwalk Advisors
0
Playfair Capital
0
Sovereign AI Fund
0
0 votes castLast updated: awaiting first votes

Cast your vote

Choose one investor and tell us who you are.

You can vote once in this category, and you are welcome to vote in every category. If the same email address votes more than once in a category, only the most recent vote is counted. The People's Vote runs alongside the independent judging panel's assessment. Public voting closes on Friday 30th October, and winners are announced on Monday 2nd November at the Sovereign AI Summit.