Sustainable Ventures gets £3m from Barclays for Manchester expansion

Investment firm Sustainable Ventures has secured £3m to expand its footprint across the country from London to Manchester next year.

Barclays Sustainable Impact Capital led the first external raise into the investor. In addition to the northern city, Sustainable Ventures said it has plans for a “number of sites in the UK”.

A spokesperson for Sustainable Ventures told UKTN that it is not yet able to disclose those locations.

“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,” said Andrew Wordsworth, co-founder and managing partner of Sustainable Ventures.

Founded in 2011, Sustainable Ventures has backed more than 40 companies, including transport poverty-tackling startup RideTandem, smart air brick creator Airex and battery firm Brill Power.

The sustainability-focused venture capital firm also provides workspaces to startups, support programmes and business advice on topics such as R&D credits.

Sustainable Ventures’ move gives it a presence in the UK’s second-largest tech ecosystem outside of London. In 2022, Manchester technology businesses raised £532m, the highest amount ever for the region.

“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 Steven Poulter, head of principal structuring and investments at Barclays.

As part of the deal, Poulter has joined the board of Sustainable Ventures.