Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, what governance structures are in place to oversee investment decisions made by the Sovereign AI Fund, and what role Ministers, the Department, and the Fund’s Chair will have in approving individual investments.

Delivering value for money for taxpayers is central to the Sovereign AI Fund. This will be assessed through robust monitoring and evaluation against the Fund’s strategic objectives, including its effectiveness in growing and anchoring strategically significant AI companies in the UK, mobilising private capital, and strengthening the wider UK AI ecosystem, alongside standard public money controls and financial oversight.

Equity Investments by the Sovereign AI Fund will be delivered through DSIT’s existing Government-owned company, British Technology Investments (BTI) Ltd and its governance structures. The BTI Board will review the Fund’s performance and the Sovereign AI Strategy Board will provide strategic oversight of the overall programme. The vast majority of individual investment decisions will be taken by an independent Investment Committee with delegated authority from BTI Board. Exceptional cases may be decided on by the BTI Board.