Sustainable Ventures, a trailblazer in the climate tech sector, has announced a £3 million fundraising round. The leading financial charge in this transformative venture is being led by Barclays Sustainable Impact Capital, joined by other notable investors who share the vision of advancing climate tech solutions in the UK.
Since its inception in 2011, Sustainable Ventures has steadily climbed the ranks to become one of the UK's most active and influential tech investors, further securing its position as the largest entity of its kind across Europe. Sustainable Ventures' innovative model has been instrumental in propelling over 450 climate tech companies to scale their technologies, amass greater returns, and contribute to creating more than 5,500 jobs.
The driving force behind this substantial investment, Barclays Sustainable Impact Capital, has committed to investing £500 million from Barclays' equity capital into climate tech startups. Their objective is clear: to facilitate the scaling of solutions that tackle pressing environmental challenges. Notably, Barclays has previously backed three businesses nurtured by Sustainable Ventures - Airex, renowned for creating the world's first smart air brick; Brill Power, pioneers in technology for extending battery lifespans and output; and Sunswap, specialists in zero-emission transport refrigeration.
This significant investment is expected to cultivate an ecosystem that brings local stakeholders together, creating vibrant regional clusters. The aim is to offer specialized support to climate tech specialists and entrepreneurs, aligning perfectly with Manchester's forthcoming role as the epicenter of Sustainable Ventures' expansion. Manchester, recently recognized as the UK's fastest-growing tech hub outside of London, is a city that prides itself on being the most digitally inclusive in the nation. With a thriving £5 billion digital tech ecosystem and more than 10,000 startup and scale-up companies calling it home, Manchester is poised for a remarkable transformation. Sustainable Ventures' expansion into the city also dovetails with the region's ambitious agenda of achieving net-zero emissions by 2038 while fostering green job creation and bolstering the local economy.
As a testament to the significance of this investment, Steven Poulter, Head of Principal Structuring and Investments at Barclays, is set to take a seat on the Board of Sustainable Ventures, cementing the collaboration between these two visionary entities.
Andrew Wordsworth, co-founder and Managing Partner of Sustainable Ventures said, "After specializing in the sector for more than 20 years, climate tech is now the sector of choice for entrepreneurs, and it's imperative that local initiatives, entrepreneurs, and capital come together."
Poulter highlighted the UK's potential to become a global hub for climate tech companies. "The UK, with its world-leading universities, research, and manufacturing capabilities, has the potential to be the global hub for climate tech companies that become future unicorns," said Poulter.
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