Carbon13 launch Funding to qualified investors
Supported by bp ventures, Arm, DLA Piper and ex-Dragon Nick Jenkins
Carbon13 is delighted to announce it has opened the Carbon13 SEIS Fund to qualified investors. One Million Pounds will be shared amongst 10 start-up businesses generated by the venture builder which have the potential to reduce GHG emissions by 10 million tonnes.
The Venture Builder is the first of its kind as no other SEIS fund is investing in start-ups with a strong environmental commitment. With many corporates already using, and the Bank of England and others projecting, a carbon price of $100/tonne, this is an impact of “unicorn” size.
60 founders have now been through a competitive selection process, and have been whittled down from over 600 applications. Each founder was selected for the programme based on their potential to become founders of a highly scalable venture and, as a consequence, these founders are significantly more experienced than in the average accelerator: 55% are drawn from technical backgrounds, and many of the remainder are serial entrepreneurs.
Chris Coleridge, founder and CEO of Carbon13 comments: “Net Zero is the biggest opportunity of the next 50 years. What the venture capital world is beginning to wake up to is that the investment opportunity posed by climate change is not like the internet, a general-purpose technology that has rolled out, steam-engine-like, through the economy, incrementally changing everything it penetrates; it’s more like a world war, where society’s awareness of the threat it’s under creates a prolonged and intense engagement of the private sector’s capital and its capacity for innovation.”
ET Capital manage the Carbon13 SEIS Fund for Carbon13, and support innovative, sustainable businesses coming forward from the fund.
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Press release by: Aceil Haddad, MATT PR
