Sky Ocean Ventures aboard Founders Factory’s £ 100m Planet Fund

Sky Ocean Ventures is supporting the Factory Founders Planet Fund, which is raising £ 100m to support climate start-ups.

The Founder Factory Planet Fund wants to address the “funding gap” for seed start-ups, investing in decarbonisation, resource prevention, climate resilience and the circular economy.

As part of the partnership, Sky will move its Sky Ocean Ventures within the Planet Fund, which has invested in 25 startups since 2018.

“We felt compelled to take this fund because of the urgency of the problem and the scale of the opportunities,” said Henry Lane Fox, CEO, Founders Factory.

Founders Factory is a London – based accelerator and enterprise studio. It was founded in 2015 by Brent Hoberman, Henry Lane Fox and George Northcott.

“We’ve seen a massive migration of tech talent wanting to work in the climate, and we know there’s a gap to provide high-end capital and practical support for the next generation of ambitious planet-oriented companies,” Lane Fox said. .

The Planet Fund will be led by Lane Fox and Sky Ocean Ventures’ previous investment leader Jamie Rowles.

For the chairman of the fund’s advisory board Founders Factory has appointed Sir Ian Cheshire who resigned as chairman of Barclays UK last year.

Cheshire will be joined by climate scientists Professor Richard Templer and Professor Cameron Hepburn.

A report published earlier this year found that climate technology is the Europe’s fastest growing vertical.

Speaking about Sky, Brent Hoberman, founding consultant and executive chairman of Founders Factory, said: “Its range and voice together with our entrepreneurial DNA will allow us to invest in and nurture the best climate entrepreneurs who can contribute to a more sustainable future. to open us all. . ”

To date, the accelerator has raised over $ 175m (£ 143.5m).

Last year insurance provider Aviva expanded its partnership five years with Founders Factory to support UK startups.

Founders Factory joins Felix Capital, which launched it last week ciste £ 478m to support Web3 start – ups and sustainability.

Sky Ocean Ventures aboard Founders Factory’s £ 100m Planet Fund

Source link Sky Ocean Ventures aboard Founders Factory’s £ 100m Planet Fund

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