OnePlanetCapital increases tempo of climate change venture capital investing
The OnePlanetCapital Climate Change EIS Fund has had a successful inaugural summer raise with just under £3 million incoming from investors and deployments into three new companies as well as an existing follow-on investment into portfolio company &Sisters.
In terms of new companies, OnePlanetCapital has backed innovative businesses in energy and recycling with huge potential impacts on climate change.
MDF Recovery has the world’s fully scalable solution for recycling MDF – currently 200 million tonnes of MDF is either burnt or sent to landfill each year.
Verv Energy also featured in this round. Verv provides software and hardware for air conditioning units to enable impressive energy savings – a massive global problem with as many as 40% of units running inefficiently.
Finally, OnePlanetCapital also backed Electron (electron.net) in this round – a unique energy trading platform to facilitate grid flexibility by enabling more renewable providers to trade on its platform.
Anthony Chant, Investment Director at OnePlanetCapital, said of the raise: “we were really delighted to see good volumes coming into the fund in July and August as it is the first time we have raised in this period. Moving to 3 deployments per annum gives us a lot more scope to back companies and build the portfolio and increases the flexibility of our offer to investors and IFAs. We are backing some great companies here and have taken board seats so will be instrumental in taking them forward. We intend to follow up on July’s success with deployments in November 2023 and March 2024.”