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Elbow Beach to back three dozen green startups with £80m climate fund

Summary by UKTN (UK Tech News)

Green VC firm Elbow Beach has secured £63m in the first close of its new £80m climate impact fund. Elbow Beach aims to back up to 36 early-stage British startups via the fund over the next four years, with a focus on technology enabling industries to transition to cost-effective low carbon operations. The firm will look at investments in AI, carbon capture, electrification and low carbon materials. “The fund’s strategy is to help match techno…

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Bdaily Business News

Climate impact fund gets £50 million lift

A climate-focused investment fund has secured a major commitment to support early-stage startups developing sustainable technologies. The British Business Bank has committed up to £50 million to Elbow Beach’s Climate Impact Fund 2 through its Enterprise Capital Funds programme. The fund, which has already secured commitments for £63 million of capital, will…

8 days ago

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BusinessCloud.co.uk

Specialist climate impact seed investors secure £63m

Specialist climate impact seed investors Elbow Beach has announced the first close of its second fund. The targeted £80m Climate Impact Fund 2 has already secured commitments for £63m of capital, including up to £50m from the British Business Bank through its Enterprise Capital Funds programme. With £40m of immediately deployable capital, the London-based firm has activated the fund which aims to back up to 36 early-stage British startups over …

12 days ago

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TDPel Media

Elbow Beach Announces Launch And First Close Of £80M Climate Impact Fund 2 To Support Early-Stage UK Startups In The Transition To A Low-Carbon Economy

Elbow Beach, a climate impact-focused seed investor based in London, has officially announced the launch of its second fund, alongside its first successful close. The company, known for backing early-stage technologies with a focus on sustainability, has already secured £63 million in commitments for its targeted £80 million Climate Impact Fund 2. Capital Backing and Ambitious Goals for the Fund The new fund has received substantial backing, inc…

12 days ago

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fintech.global

British Business Bank backs Elbow Beach with £50m to fuel UK Climate Tech

Elbow Beach, a seed investor focused on climate technology, has secured a significant commitment. According to Finextra, the British Business Bank has pledged up to £50m to the firm’s Climate Impact Fund 2 through its Enterprise Capital Funds programme. This fund has already gathered £63m in capital commitments and boasts £40m of immediately deployable capital. The funding will empower Elbow Beach to invest in up to 36 pioneering British startup…

12 days ago

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Silicon Canals

Elbow Beach secures €75.2M in first close of Climate Impact Fund 2

Elbow Beach, a UK-based climate impact seed investor, has announced the launch and first close of its second fund. The £80M (nearly €95.6M) Climate Impact Fund 2 has secured £63M (nearly €75.28M) in commitments, including up to £50M (nearly €59.74M) from the British Business Bank through its Enterprise Capital Funds programme. With £40M (nearly €47.79M) available for immediate deployment, the fund aims to support up to 36 early-stage British st…

12 days ago

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theintermediary.co.uk

British Business Bank invests £50m to Elbow Beach’s Climate Impact Fund 2 - The Intermediary - Latest UK mortgage news

The British Business Bank has committed up to £50m to Elbow Beach’s Climate Impact Fund 2 through its enterprise capital funds programme. The fund has already secured £63m in capital and plans to support up to 36 early-stage UK startups over the next four years. With £40m ready to be deployed, it will focus on technologies improving efficiency and reducing carbon emissions, such as automation, artifical intelligence (AI), and low-carbon material…

12 days ago

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