Evolution Securities is acting as nominated adviser and broker to the company, which plans to invest in the intellectual property relating to environmental technologies, which are nearing commercialisation. These investments will be sourced from existing companies, research organisations and academics.

Wray – owner of London-based rugby union club Saracens – is one of three non-executive directors bringing The Greenhouse Fund to market. Roger King and Roger Maddock, who raised £6.8 million for property-contracts trader The Off-Plan Fund and launched it onto AIM last month, complete the team.

Thursday 5 January has been pencilled in as the likely launch date.