Clean Growth Fund Secures £49 Million First Close of £150 Million Fund II to Accelerate UK Climate Tech

Clean Growth Fund, an early stage climate venture capital fund, led by Beverley Gower-Jones OBE(Managing Partner), Jonathan Tudor (Investment Partner), Alasdair Greig(Investment Partner), Susannah McClintock (Investment Partner), Stephen Price(Investment Director), Gemma Fong(Chief Financial Officer), Maria Khan(Head of Compliance, ESG & Ops), Connor Duffy(Investment Manager), and Maya Mhatre(Marketing Manager), secured £49 Million First Close of £150 Miilion Fund II to Accelerate UK Climate Tech. Two of CGF’s Fund I investors, including Strathclyde Pension Fund, have recommitted to Fund II and are joined by new investors Islington and East Riding LGPS, a powerful endorsement of the firm's disciplined, impact-led investment approach. Among the standout portfolio companies are Sunswap, Rendesco, and Above.  

Clean Growth Fund (CGF), a certified B Corp with one of the highest UK VC scores (133.8), is backed by a seasoned team with expertise across climate, tech, and finance. The first close of Fund II aligns with the UK’s Mansion House Compact, offering institutional investors—like LGPS—a credible path to early-stage climate tech investing with strong impact and commercial potential.

Fund II will continue CGF’s strategy of backing early-stage UK companies developing high-impact emissions-reducing tech. With initial investments of £500k to £5M, the fund targets six core areas: energy systems, mobility, industrial decarbonisation, buildings, agrifood, and the circular economy.

To advance its national mission, CGF is expanding its presence across UK innovation hubs. Its upcoming Climate Tech Roadshow in Glasgow on 09 September will bring together climate innovators, investors, and partners with CGF’s investment team.