Barclays Commits £3 Million to Sustainable Ventures for Manchester Expansion

Sustainable Ventures, an investment firm committed to sustainability and innovation, has secured a significant £3 million investment from Barclays Sustainable Impact Capital. The funding will facilitate Sustainable Ventures’ expansion from its current London base to Manchester in the coming year, marking an important step in their mission to support climate tech initiatives across the UK.

This investment, led by Barclays Sustainable Impact Capital, represents the first external funding round for Sustainable Ventures. Beyond Manchester, the company has expressed intentions to establish a presence in various other locations throughout the UK, although specific details regarding these expansion sites are yet to be disclosed.

“Having specialized in the sustainability sector for over two decades, climate tech has now become the industry of choice for entrepreneurs, and it’s crucial that local initiatives, entrepreneurs, and capital align,” remarked Andrew Wordsworth, co-founder and managing partner of Sustainable Ventures.

Founded in 2011, Sustainable Ventures has a rich history of backing over 40 companies that are pioneering innovative solutions in sustainability. Some of their notable investments include RideTandem, a startup dedicated to addressing transportation poverty, Airex, the creator of smart air bricks, and Brill Power, a forward-thinking battery technology company.

In addition to its investment activities, Sustainable Ventures offers workspaces to startups and provides comprehensive support programs and business advice on topics such as research and development (R&D) tax credits.

The move to Manchester marks a strategic expansion for Sustainable Ventures, positioning the firm within the UK’s second-largest tech ecosystem outside of London. In 2022, technology businesses in Manchester raised a remarkable £532 million in funding, representing a record-breaking amount for the region.

Steven Poulter, head of principal structuring and investments at Barclays, expressed optimism about the potential of the UK to become a global hub for climate tech companies that may evolve into future unicorns. As part of this significant investment, Poulter has also joined the board of Sustainable Ventures, further strengthening the partnership between the two entities.

Sustainable Ventures’ expansion into Manchester not only bolsters the city’s standing as a thriving tech ecosystem but also signifies the continued growth of climate tech initiatives, further fueling the UK’s progress towards a sustainable and innovative future.