The UK government is aiming to encourage more Pension Funds to invest into small, unlisted organisations. This includes the introduction of a lending vehicle for start-up businesses as one of the recommendations to assist the improvement of UK companies’ access to long-term capital. This in the context of a reduction in resources available for local government from £6.7bn this year to £4.8bn in 2018-2019. Can Pension Funds make up the shortfall?