British Innovation Fund II

Venture Capital

Discover Our Range of Funds


Building upon the success of The British Innovation Fund I, the British Innovation Fund II continues to invest in high-potential companies emerging from the rich ecosystem of University Venturing. With a keen focus on agri-tech, the future of healthcare, climate impact, and alternative protein sectors, the fund is dedicated to supporting ventures where incontrovertible science forms the bedrock of the commercial proposition. This initiative embodies a One Health approach, underscoring the intrinsic connections between Food, Health, and Planet, and striving for sustainable solutions through innovative ventures.

Our Featured Investments

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Professional investors are invited to delve deeper into our British Innovation Fund II and explore the innovative ventures at the heart of the One Health approach, striving to harmonise Food, Health, and Planet for a sustainable future.

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Catalysing Sustainable Protein Innovations: A One Health Approach

Building on the ethos of sustainability, the Smart Protein Fund is a distinctive investment vehicle, dedicated to fuelling high-potential companies at the forefront of the future of food. Our focus areas encompass Plant-Based Protein, Precision Fermentation, Cultivated Meat, Infrastructure, and the Infrastructure to enable scalable production. This initiative is a joint venture between Milltrust International and Earth First Food Ventures, combining expertise to propel the Smart Protein sector towards a cleaner, locally produced, and healthier end-product with a significantly lower carbon footprint.

Investment Theses

With an eye towards a sustainable future, our investment theses revolve around:

Plant-Based Proteins
Supporting ventures that are creating healthier, sustainable, and tasty plant-based alternatives.

Precision Fermentation
Backing technologies that are enabling the production of proteins and other ingredients through fermentation.

Cultivated Meat
Investing in companies that are pioneering the production of meat directly from cells, reducing the environmental footprint of meat production.

Infrastructure and Scalable Production
Supporting innovations that enhance the production efficiency and scalability of smart protein ventures.

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Professional investors are invited to delve deeper into the Smart Protein Fund, exploring the promising ventures at the nexus of food innovation and sustainability, embodying the One Health approach.

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A Confluence of Global Opportunities and Local Expertise

Milltrust’s investment platforms host a number of the world’s leading country and regional emerging markets asset managers from the developing world. Operating within a unique, regulated environment, these asset managers provide investors with a safe, transparent, and liquid custodial platform. The Milltrust range of funds – encompassing China, India, ASEAN, South Korea, Eurasia, Africa, and Brazil – serves as the building blocks for a truly Global Emerging Markets offering. Investors have the flexibility to engage with these markets on a stand-alone basis or through Milltrust’s discretionary-managed Global Emerging Markets Fund, unlocking a spectrum of investment opportunities in some of the most dynamic economies globally, underpinned by a unique, regulated environment ensuring transparency, liquidity, and safety.

Our Investment Spectrum

Global Emerging Markets (GEMS)
The Milltrust Global Emerging Markets (GEMS) Fund is a multi-specialist fund that invests in a limited portfolio of regulated emerging markets equity funds. It combines Milltrust’s proprietary quantitative modelling techniques and qualitative analysis to establish the geographical allocation between the different regional investment teams that make up the emerging markets index.

Regional Funds
Access to dedicated funds targeting key emerging markets regions, allowing for focused or diversified engagement as per your investment strategy.

Strategy Highlights

Local Expertise
Our investment approach favours teams with on-ground presence, ensuring direct access to extensive networks including industry leaders and government officials in the respective markets.

Investment opportunities are identified through meticulous bottom-up research, leveraging company visits and management interactions, allowing for informed decision-making and potential alpha generation.

Core Investment Principles

High Conviction
Aiming for a high conviction portfolio of best ideas securities across the developing world to seek strong risk-adjusted returns across market cycles.

Unique Multi-Specialist Approach
Combining local alpha generation with proprietary country allocation modelling to seek to overweight potential winners.

Customisable Mandates
Adaptable structures to accommodate diverse client requirements including risk tolerance and geographical preferences.

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Professional investors are invited to delve deeper into our Emerging Markets Funds and discover how Milltrust’s unique approach aims to unlock value in the vibrant markets of the developing world.

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Advancing Sustainable Prosperity with Climate Resilience

At Milltrust, Sustainable Prosperity is a defining ethos, particularly in combating climate change. Our Climate Impact Asia Fund embodies this commitment, catalysing sustainable technology innovations in the Asia-Pacific region to balance economic growth with environmental stewardship.

Our Ethos: Fostering Responsible Innovations

Strategic Focus
Engage with innovative enterprises dedicated to climate resilience and carbon neutrality in the critical Asia-Pacific region.

Sustainable Commitment
Collaborate with companies leading in renewable energy, sustainable construction, and environmental services.

Professional Engagement
Exclusively available to professional investors who share our vision of a sustainable, low-carbon economy.

Core Investment Sectors


Multiple-award winning fund (2020, 2021, 2022, and 2023) including Best ESG Equities Fund, Best ESG Performance, Best ESG Methodology, Environmental Fund of the Year, and Impact Initiative of the Year. For a full list of awards, click here.

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Professional investors are invited to explore the Climate Impact Asia Fund and discover how we are fostering responsible innovations in the heart of Asia’s climate solutions landscape.

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Milltrust International

6 Stratton Street
London W1J 8LD
United Kingdom
Tel: +44 (0)20 8123 8316
Email: [email protected]

Milltrust International Group (Singapore) Pte Ltd

77B Tras Street
Singapore 078978
Tel: +65 6225 3052
Fax: +65 6225 3072
Email: [email protected]