The National Wealth Fund (NWF) is the UK’s sovereign wealth or strategic investment fund, established in October 2024 following the transformation of the UK Infrastructure Bank into a broader policy bank with an expanded mandate. Headquartered in Leeds and fully owned by HM Treasury, the NWF is operationally independent, with a capital endowment of around £27.8 billion as of October 2024. Its core mission is to mobilize private capital into strategically important sectors—including green hydrogen, carbon capture, gigafactories, ports, clean steel, and other growth-driven industries—aligned with the UK's industrial and clean energy strategies. Since its inception, the NWF has already deployed significant capital—mobilizing over £14 billion in private finance, supporting more than 21,000 jobs, and aiming to reduce 75 million tonnes of CO₂ emissions through its investment portfolio. In essence, the National Wealth Fund plays a strategic and catalytic role in the UK’s transition to a low-carbon, innovation-driven economy, leveraging risk-adjusted public capital to stimulate long-term growth in infrastructure and industry.