UK-based venture capital investor Jenson Funding Partners has launched a £60m fund focused on startups developing net-zero transition solutions.
The Aurora I fund will target early-stage startups in the green tech sector and is aiming to close a funding gap revealed by a Tech Nation report that found climate tech startups struggled to secure funds between the seed and Series A stage.
“There are some fantastic companies out there that are busy making greener alternatives affordable and practical. We see this as a critical step to encouraging the mass adoption of more sustainable ways of living and doing business,” said Sarah Barber, CEO of Jenson Funding Partners.
“Aurora I is the opportunity for us to leverage our track record of successfully backing early-stage businesses with the potential to directly impact the way we live and work.”
The VC will look to its network of universities, accelerators, incubators, and corporate advisors to scout potential funding recipients.
Jenson Funding Partners has some history of backing startups within the sustainability space such as The Seam, a clothes recycling company, and TreeApp, which allows businesses and individuals to finance the planting of trees.
Other companies in the investor’s portfolio include virtual reality startup Roto VR and AI startup Warwick Analytics.