Clean Growth Fund
Clean Growth Fund is a London-based FCA-authorised venture capital fund manager investing in early-stage UK clean technology companies across energy, buildings, transport, waste, industry, and food and agriculture. It manages Fund I (£101m) and is raising Fund II (£150m target), combining equity capital with commercialisation support via sister firm Carbon Limiting Technologies.
- Company typePrivate
- Founded2020
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Clean Growth Fund does
Clean Growth Fund is a London-based specialist UK venture capital fund manager that invests in early-stage clean technology companies driving carbon emission reductions across the power and energy, buildings, transport, waste, industry, and food and agriculture sectors. Founded in May 2020 by Beverley Gower-Jones with cornerstone backing from the UK Government's Department for Business, Energy & Industrial Strategy (BEIS) and CCLA, the firm is structured as Clean Growth Fund LP, managed by Clean Growth Investment Management LLP, an FCA-authorised and regulated entity. The firm operates two fund vintages: Fund I of £101m and Fund II targeting £150m, which completed a £49m first close in 2024-2025. As of mid-2026 the portfolio comprises more than 20 companies, including measurable.energy, Piclo, Sunswap, Holiferm, Nuada, Vector Photonics, Mykor, AmpliSi, Gigaton, Meatly and Clean Food Group.
The fund's underlying "product" is a combination of equity capital and hands-on commercialisation support, delivered jointly with its sister company Carbon Limiting Technologies (CLT), which provides 40+ associates each with more than 20 years of clean tech domain experience. Deal flow is sourced through the Cleantech for UK coalition (co-founded with Breakthrough Energy, Imperial College, Legal & General Capital and others with combined funds exceeding £6bn), university spin-out programmes, and a network of recurring co-investors including Vertex/Temasek, Northern Gritstone, Plural, Rhapsody Venture Partners, Future Energy Ventures, Foresight WAE Technology, Toshiba Energy Systems and Shell Ventures. The fund also reports a proprietary "return on carbon" metric — the cost per tonne of carbon abatement per portfolio company — alongside conventional financial KPIs.
The business model is standard venture capital economics: management fees (typically 1.5-2% of committed/invested AUM) earned on Fund I and Fund II, with future carried interest on realised gains above an undisclosed hurdle. The customer base splits between limited partners (UK pension funds such as Strathclyde, institutional asset managers such as CCLA, local government pension schemes, and government-backed vehicles) supplying capital to the funds, and portfolio companies receiving investment. The firm employs 1-10 staff and is led by Managing Partner Beverley Gower-Jones (OBE), supported by Investment Partner Jonathan Tudor, Investment Directors Stephen Price and Susannah McClintock, Chairman George Whitehead, and adviser Gershon Cohen, with Faith Ward (former Brunel Pool chief responsible investment officer) added to the advisory board in 2026.
Clean Growth Fund firmographics
Firmographics- Name
- Clean Growth Fund
- Legal name
- Clean Growth Investment Management LLP
- Website
- https://cleangrowthfund.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Clean Growth Fund is a London-based FCA-authorised venture capital fund manager investing in early-stage UK clean technology companies across energy, buildings, transport, waste, industry, and food and agriculture. It manages Fund I (£101m) and is raising Fund II (£150m target), combining equity capital with commercialisation support via sister firm Carbon Limiting Technologies.
- Ownership category
- akta.pro rank
Clean Growth Fund industry classification
Industry- Product category
- Venture Capital / Clean Tech Investment Management
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Climate / Clean Tech & Decarbonization Funds (FSANAJAA)
- akta.pro secondary industries
- Environmental & Resource Efficiency Funds (Water, Waste, Recycling, Efficiency) (FSANAEAE), Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG), Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD)
Keywords
Where Clean Growth Fund is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Markets served
Clean Growth Fund business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Distribution channels1 record
Marketing channels7 records
Clean Growth Fund product offering
Product offeringCore offering
Clean Growth Fund is a UK venture capital fund manager that raises capital from institutional investors and deploys it into early-stage clean technology companies across power and energy, buildings, transport, waste, industry, and food/agriculture. The fund operates as Fund I (£101m) and is raising Fund II (target £150m, £49m first close), providing portfolio companies with capital plus hands-on commercialization support via its sister company Carbon Limiting Technologies (CLT).
Product overview
Clean Growth Fund is a specialist UK venture capital fund managing clean technology investment portfolios. The fund operates as Fund I (£101m) and is currently raising Fund II targeting £150m. Rather than a unified product platform, the offering consists of venture investment services into clean tech startups, with a portfolio of 25+ portfolio companies spanning sectors including power/energy, buildings, transport, industrial processes, and waste. The fund provides capital alongside commercialization support through its sister company Carbon Limiting Technologies (CLT), which offers hands-on support with 40 sector experts. The fund targets UK early-stage clean tech entrepreneurs and aims to deliver superior financial returns while accelerating clean growth technologies.
Differentiator
Problem solved
Functional benefit
Products and services
- Clean Growth Fund I A £101m UK venture capital fund vehicle that invests in early-stage clean technology companies across power/energy, buildings, transport, waste, industry, and food/agriculture, targeted at institutional investors including UK pension funds and asset managers.
- Clean Growth Fund II A £150m-target UK venture capital fund vehicle (currently raising, with £49m first close) investing in early-stage clean technology companies with a net zero innovation focus, targeted at institutional investors.
Quantifiable outcome
- Targeting £150m Fund II targeting net zero innovation
- +2 more outcomes
Companies that use Clean Growth Fund
Customer profileSegments3 records
Ideal customer profiles3 records
Clean Growth Fund technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Clean Growth Fund partnerships and signals
Strategic signalPartnerships
21 partnerships are on record, tiered core and minor.
- Faith WardcoreFaith Ward, former chief responsible investment officer for the £35bn Brunel Pool, joined Clean Growth Fund's advisory board to advise on investment strategy for the £101m Fund I and the £150m Fund II targeting net zero innovation. She brings nearly three decades of climate change experience and aims to help UK pension funds and asset owners invest more in transition finance and climate solutions.
- Cleantech for UK CoalitioncoreFounding coalition of UK cleantech accelerators and investors with combined funds of over £6bn, including Breakthrough Energy, Imperial College London, Kiko Ventures, Breakthrough Energy Ventures, Just Climate, and Legal & General Capital. Supported by Breakthrough Energy and organized by Cleantech Group. Launched at an event attended by Bill Gates and PM Rishi Sunak.
- Breakthrough EnergycoreCo-founder and supporter of the Cleantech for UK coalition alongside Clean Growth Fund and others. Founded by Bill Gates.
- Carbon Limiting Technologies (CLT)coreSister company of Clean Growth Fund providing hands-on commercialisation support to portfolio companies. CLT has 40+ associates each with over 20 years of domain experience across clean tech verticals.
- TescominorPortfolio company Sunswap deployed its zero-emission transport refrigeration units with Tesco, marking the start of a shift away from diesel-powered cooling systems in food transport.
- TIP GroupminorNetherlands-based TIP Group, operating across 18 countries, placed an order for 20 Sunswap Endurance Transport Refrigeration Units and commenced customer trials for sustainable refrigerated transport across Europe.
- EurosynminorItalian distribution partner for Holiferm's biosurfactants. Distribution agreement signed in April 2021, renewed at the Sepawa Congress in Berlin, with increased supply due to the opening of Holiferm's first commercial plant.
- Gray & AdamsminorScottish manufacturer partner for Sunswap, demonstrating how UK companies can work together to differentiate from large incumbent players in cold-chain logistics while creating local jobs.
- HolcimminorNuada partnered with Holcim (one of the world's largest cement companies) to evaluate its next-generation carbon capture technology as a solution to deliver low-carbon cement, through the GCCA Innovandi Open Challenge programme.
- SCG (Siam Cement Group)minorNuada partnered with SCG, a leading ASEAN business conglomerate, to collaborate on sustainable progress initiatives and net-zero emission goals using Nuada's carbon capture technology.
- Cementos ArgosminorNuada partnered with Cementos Argos to evaluate its carbon capture technology as part of the GCCA Innovandi Open Challenge, contributing to the company's net-zero cement objectives.
- Cementos MolinsminorNuada partnered with Cementos Molins to support the deployment of its Metal-Organic Framework (MOF) carbon capture technology as part of the GCCA Innovandi Open Challenge programme.
- GCCA (Global Cement and Concrete Association)minorNuada's partnerships with major cement companies were facilitated through the GCCA's Innovandi Open Challenge programme, which brings start-ups and leading cement companies together to work on net zero initiatives.
- Heidelberg MaterialsminorExisting collaboration through GCCA Innovandi Open Challenge with Heidelberg Materials, one of the world's major cement companies, to evaluate Nuada's carbon capture technology.
- Cementir HoldingminorExisting collaboration through GCCA Innovandi Open Challenge with Cementir Holding to evaluate Nuada's carbon capture technology.
- Buzzi UnicemminorExisting collaboration through GCCA Innovandi Open Challenge with Buzzi Unicem to evaluate Nuada's carbon capture technology.
- AB InBev's 100+ AcceleratorminorPortfolio company Arda Biomaterials joined AB InBev's 100+ Accelerator programme to support the scaling of its New Grain leather-alternative material derived from spent barley grain.
- OVO Energyminortepeo partnered with OVO Energy and UK Power Networks to launch the 'Neat Heat' trial of tepeo's Zero Emission Boiler (ZEB), demonstrating how ZEB could power a low carbon heating revolution.
- UK Power Networksminortepeo partnered with OVO Energy and UK Power Networks for the Neat Heat trial of tepeo's Zero Emission Boiler, with UK Power Networks funding the project to understand impacts on their electricity network.
- Priests for PurposeminorClean Growth Fund participates in Pensions for Purpose initiatives and webinars focused on institutional investor engagement in the clean energy transition.
- Tech Nation Net Zero 3.0 ProgrammeminorPortfolio company MOF Technologies was selected to join Tech Nation's Net Zero 3.0 programme supporting early-stage clean tech to accelerate UK towards net zero goals.
Scale indicators3 records
Recent moves6 records
Expansion highlights6 records
Clean Growth Fund competitors and assessment
Company assessmentDirect peers
- Kiko Ventures: UK-based climate tech venture firm investing across energy, mobility, food, and industry. Most direct UK peer given overlapping portfolio focus and shared membership in the Cleantech for UK coalition.
- Breakthrough Energy Ventures: Bill Gates-backed early-stage climate tech fund investing globally in companies that will significantly reduce greenhouse gas emissions. Co-founder of the Cleantech for UK coalition alongside Clean Growth Fund.
- Just Climate: Climate-focused investment firm founded by Generation Investment Management, targeting transformative climate solutions across multiple sectors. Peer in the Cleantech for UK coalition.
- ETF Partners: European growth-stage cleantech investor focused on resource efficiency and environmental impact. Comparable in mission (cleantech VC with measurable impact) and stage focus.
- Future Energy Ventures: Energy transition-focused VC investing across power, mobility, buildings, and industry. Direct co-investor with Clean Growth Fund in Piclo and Holiferm.
- Lowercarbon Capital: US-based venture fund investing in companies that reduce CO2 emissions across energy, industry, and land use. Comparable in cleantech-only thesis and early-stage focus.
- Pale Blue Dot: Early-stage climate tech VC investing across Europe with a focus on founders solving climate change. Comparable stage and sector focus.
- Clean Energy Ventures: Early-stage venture firm investing in category-defining climate tech startups. Comparable in mission and pre-seed/seed focus on decarbonisation technologies.
- Contrarian Ventures: Europe-based climate tech VC focused on energy, mobility, and industrial decarbonisation. Comparable in stage, geography (European), and sector focus.
Broad incumbents
- Galvanize Climate Solutions: Global investment platform addressing climate change across venture, growth, and private credit. Broader mandate and much larger AUM, but overlapping climate thesis makes it a comparable incumbent.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Clean Growth Fund social profiles
Digital presenceClean Growth Fund compliance and trust
Trust signalCompliance4 records
Clean Growth Fund financial estimates
Financial estimateRevenue estimate
Valuation estimate
Clean Growth Fund leadership team
Management profileNumber of profiles
Profiles6 records
Clean Growth Fund funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Clean Growth Fund M&A and investment
M&A and investmentM&A
Investments33 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Clean Growth Fund
What does Clean Growth Fund do?
Clean Growth Fund is a UK venture capital fund manager that raises capital from institutional investors and deploys it into early-stage clean technology companies across power and energy, buildings, transport, waste, industry, and food/agriculture. The fund operates as Fund I (£101m) and is raising Fund II (target £150m, £49m first close), providing portfolio companies with capital plus hands-on commercialization support via its sister company Carbon Limiting Technologies (CLT).
Is Clean Growth Fund a public or private company?
Clean Growth Fund is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Clean Growth Fund founded?
Clean Growth Fund was founded in 2020. It employs 1 to 10 people.
Where is Clean Growth Fund based?
Clean Growth Fund is headquartered in London, United Kingdom, in the Europe region.
Who are Clean Growth Fund's main competitors?
Direct peers on record are Kiko Ventures, Breakthrough Energy Ventures, Just Climate, ETF Partners, Future Energy Ventures, Lowercarbon Capital, Pale Blue Dot, Clean Energy Ventures and Contrarian Ventures. Galvanize Climate Solutions is listed as a broad incumbent.
Does Clean Growth Fund have an API?
No public API is recorded for Clean Growth Fund.
What industry is Clean Growth Fund in?
Clean Growth Fund's product category is Venture Capital / Clean Tech Investment Management. Its primary akta.pro industry code is FSANAJAA, Climate / Clean Tech & Decarbonization Funds, with a secondary code of FSANAEAE, Environmental & Resource Efficiency Funds (Water, Waste, Recycling, Efficiency). Its NAICS code is 525 and its SIC code is 6282.