Elbow Beach to Back 36 Green Startups with £80m Fund

Funding | Mar 21, 2025 | UK Tech Funding

Elbow Beach to Back 36 Green Startups with £80m Fund

Elbow Beach, a green venture capital firm, has announced the first close of its new £80m climate impact fund, securing £63m to back up to 36 early-stage British startups over the next four years. The focus will be on technologies such as AI, carbon capture, electrification, and low carbon materials that support industries in transitioning to sustainable operations. Elbow Beach aims to match technology with customer needs, fostering startups that offer commercial value. Previously, their first fund supported firms like Munro Vehicles and Anaphite. The British Business Bank's Enterprise Capital Funds programme has committed £50m to this new initiative, a move that highlights the importance of nurturing emerging fund managers and green startup founders.

Sectors

  • Venture Capital
  • Climate Technology
  • Clean Energy

Geography

  • United Kingdom – The article centers around investments in British startups and involvement of the British Business Bank.

Industry

  • Venture Capital – The article discusses a venture capital firm's new fund allocation and strategy.
  • Climate Technology – The fund is focused on backing startups with technologies that contribute to low-carbon transitions.
  • Clean Energy – Investments include energy-efficient technologies and renewable energy alternatives.

Financials

  • £80m – Total climate impact fund size.
  • £63m – Amount secured in the first close of the fund.
  • £50m – Contribution from the British Business Bank's Enterprise Capital Funds programme.

Participants

NameRoleTypeDescription
Elbow BeachVenture Capital FirmCompanyA green venture capital firm launching a new £80m climate impact fund.
British Business BankInvestorGovernmentIt has committed £50m through its Enterprise Capital Funds programme.
Jon PollockCEO and Managing PartnerPersonLeader of Elbow Beach, guiding the firm's investment strategy.
Christine HockleyManaging Director, Co-head of FundsPersonA representative of the British Business Bank discussing the bank's involvement in the fund.