Clean Growth Fund has reached €94.5 million for its second fund, surpassing the halfway point toward its £150 million target. The latest closing was supported by a €26.1 million commitment from the Border to Coast UK Opportunities Fund and an additional €11.6 million from the Strathclyde Pension Fund.
The fund focuses on UK-based startups in sectors such as power, transport, industry, and agrifood. It aims to support 25 companies with a target net return on capital of 20% IRR. To date, the fund has already invested in four startups located in Sheffield, Bristol, Cardiff, and London.
The firm, established in 2020, previously invested in 19 startups through its first fund, which are projected to abate 27 million tCO2e annually by 2030. The current capital raise follows the successful exit from Rendesco in May 2026.
The broader European climate venture market has seen significant activity in 2026, with approximately €660.5 million raised across various sustainability-focused funds. Other notable closures include London-based Eka Ventures, which secured €91.5 million for its impact fund.
