Impact investment company Elbow Beach Capital has launched an initial £20m venture vehicle to back startups focusing on decarbonisation, sustainable energy and social impact opportunities.
The company will spread its investment across technology that decarbonises supply-chains to create profitable circular economies, sustainable energy tech and infrastructure that reduces the need for fossil fuels and social impact companies that aim to improve access and reduce costs.
London-based Elbow Beach Capital will invest between £500,000 to £1.5m in long-term growth capital in pre-seed to Series A businesses within the UK and globally. It plans to invest £2m in March and April.
In 2021 UK impact tech startups raised $2bn, up from £1.7bn in 2020.
“The sustainability and environmental technology sectors are expanding but growth will need to accelerate dramatically if governments are to meet their ambitious climate targets. We see a massive opportunity for value creation in early-stage investment across a range of impact verticals,” said Jonathan Pollock, co-founder and CEO.
The private investment company was founded in 2021 by Nick Charman, Jon Pollock and Thomas Hardy to invest in sustainable energy, transition technology and social impact businesses.
The company’s first investment was this year into waste treatment company WASE.
“Early-stage investment plays a vital role in the advancement of industry-wide solutions to mitigate climate change and improve lives. Elbow Beach Capital is committed to ensuring that every investment it makes helps to protect the future of our planet, its inhabitants, and its unique ecosystems,” said Charman, co-founder and chairman at Elbow Beach Capital.