Sustainable Ventures, the UK-based VC that helps climate startups and entrepreneurs scale through investment, workspaces and venture support, has secured £3 million in its first funding led by Barclays Sustainable Impact Capital and other investors to support its UK expansion.
Established in 2011, Sustainable Ventures will use the funding to grow the number of sites in the UK, launching in Manchester in 2024. In addition, the funding will enable Sustainable Ventures to access talent and provide additional professional services to startups.
Sustainable Ventures claims to be one of the UK’s most active tech investors and the largest of its type in Europe. It helps companies with funding, workspaces and expert support services – with unrivalled access to a pipeline of over £1bn of leading climate tech investment opportunities. The climate tech VC has already supported over 450 companies to scale their technologies, drive increased returns, and create more than 5,500 jobs. The climate tech companies Sustainable Ventures works with have over a 90% survival rate.
Barclays Sustainable Impact Capital is investing £500 million of Barclays’ own equity capital in climate tech startups, helping them to scale to solve environmental challenges.
In the past, Barclays has demonstrated its commitment to this cause by investing in three companies that are also backed by Sustainable Ventures. These businesses include Airex, renowned for creating the world’s first smart air brick, Brill Power, innovators in technology to prolong battery life and efficiency, and Sunswap, leaders in zero-emission transport refrigeration solutions.
This investment will link local stakeholders into growing regional clusters whilst ensuring climate tech specialists and entrepreneurs receive the bespoke support they need and deserve. Manchester is the fastest growing UK tech hub outside of London and it has been reported as the most digitally inclusive city in the UK, with a £5bn digital tech ecosystem and home to over 10,000 startup and scaleup companies. This expansion will assist the region in meeting its accelerated 2038 net zero target whilst delivering inclusive green jobs and boosting the economy.
Steven Poulter, Head of Principal Structuring and Investments at Barclays will also join the Board of Sustainable Ventures.
Andrew Wordsworth, co-founder & Managing Partner of Sustainable Ventures, said: “After specialising 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 meet. This has been Sustainable Ventures’ purpose for more than a decade. We’re delighted that with the support of Barclays Sustainable Impact Capital investment, we can support hundreds more innovators to go further and faster on their journey to overcome the challenges of climate change.”
Steven Poulter, Head of Principal Structuring and Investments at Barclays, added: “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. Through Barclays Sustainable Impact Capital, the bank is investing its own capital in Sustainable Ventures’ UK expansion to support growth at pace for these innovative low-carbon solutions leveraging our experience as an advisor, bank and investor.”
