From Fortune:

Britain has seen companies relocate to the U.S. or list on American stock markets recently, leaving the U.K. to carry the risk of backing start-ups while the U.S. reaps the benefits, according to British Business Bank chair Stephen Welton.

The U.K. had been making gains in tech listings, but it’s struggling to compete with the U.S. in venture capital funding. U.K.-founded companies have moved to the U.S. for growth opportunities and higher valuations.

The British government aims to make private capital more accessible in the venture capital realm by expanding pension schemes that can invest in U.K. start-ups to potentially open up £75 billion ($96 billion) in financing for high-growth firms by 2030.

The British Business Bank (BBB) is set to work on the “Mansion House Compact” initiatives set out by finance minister Jeremy Hunt, through a growth fund that will provide additional support to private pension funds, along with investing £50 million in innovative U.K. companies.



Read more: British start-ups should be kept on home soil, says BBB boss