In the UK, cleantech, AI, health and biotech dominates venture capital funding – a trend that looks to continue into Q4 and early in the new year.
In sectors such as cleantech and fintech, there are large corporates with their own venture capital arm looking to invest in disruptive start-ups. For example, large energy companies BP and Shell are pumping investment into companies developing technologies to manage carbon and helping fuel the change to electrification.
Here, we list active UK corporate venture capital (CVC) firms by sector focus – including cleantech, fintech and deep tech – and how much they invest in each company.
Cleantech
Founded: 2016
Sector focus: Electrification, Metaverse, connectivity, digital services, talent, Industry 4.0
Ticket size: £250,000 – £2m
Current investments: 17
Exits: 7
Bio: InMotion Ventures invests at seed to Series B stage in start-ups that align with its strategies across electrification, connectivity and sustainability.
Founded: 2006
Sector focus: Digital transformation, low carbon products, advanced mobility, carbon management, power and storage, intelligent commodities
Ticket size: N/A
Current investments: 30
Exits: 9
Bio: BP Ventures invests in businesses that align with its core business, including in those helping BP reduce carbon emissions.
Founded: 2013
Sector focus: Clean energy, commercial real estate, investing, SME finance, housing, data centres
Ticket size: N/A
Current investments: N/A
Exits: 2
Bio: Legal & General’s investment arm invests across a broad range of sectors, from real estate to energy and finance, aiming to ‘improve social and physical environments’.
Founded: 1996
Sector focus: Power, mobility, emission management, digital, resources
Ticket size: $2m – $5m initial investment
Current investments: 90
Exits: 15
Bio: Established in 1996, Shell Ventures was one of the first CVCs in the energy industry. At a time of great change, the firm looks to invest in the companies that can help accelerate the shift to net-zero.
Founded: 2018
Sector focus: Energy
Ticket size: N/A
Current investments: N/A
Exits: 6
Bio: National Grid Partners invests in companies which makes the power grid “safer, cleaner and smarter,” investing across all funding stages.
Founded: 2017
Sector focus: Energy
Ticket size: N/A
Current investments: N/A
Exits: N/A
Bio: Centrica’s CVC arm seeks start-ups in the energy sector that will complement and support Centrica’s existing businesses across energy and digital technology.
RWE Energy Transition Investments
Founded: 2011
Sector focus: Energy transition
Ticket size: N/A
Current investments: N/A
Exits: N/A
Bio: RWE Energy Transition Investments backs companies helping the transition to carbon neutrality in the energy sector by 2040.
Deep tech
Founded: 2014
Sector focus: Deep tech, AI, Internet of Things
Ticket size: $1m – $5m
Current investments: 12
Exits: 8
Bio: Breed Reply invests in deep tech companies across Europe, with a particular focus on AI. It invests across seed to Series A stages.
Founded: 2011
Sector focus: B2B deep tech, life sciences
Ticket size: Up to £250,000 in first round
Current investments: 41
Exits: 7
Bio: With a primary focus on start-ups in the Cambridge area, Martlet Capital focuses on start-ups in AI, machine learning, digital health, quantum technologies and advanced medicine.
Fintech
Mouro Capital (formerly Santander InnoVentures)
Founded: 2014
Sector focus: Fintech
Ticket size: Up to $15m
AUM: $400m
Current investments: 38
Exits: 10
Bio: Part of Santander bank, Mouro Capital seeks out innovations in the financial sector across all lifecycle stages.
Founded: 2018
Sector focus: Fintech
Ticket size: $1m – $10m
Current investments: 22
Exits: N/A
Bio: SC Ventures by Standard Chartered invests in disruptive fintech across Series B to pre-IPO stages which can be integrated into the company’s product and service offerings.
Consumer tech
Founded: 2002
Sector focus: Beauty and wellness, commerce and enabling technologies, B2B/Enterprise technologies
Ticket size: $500,000 to $15m
Current investments: 60
Exits: 63
Bio: Unilever is one of the world’s largest consumer goods companies and its venture arm invests in up-and-coming consumer brands and technologies – from seed stage through to Series D.
Founded: 2013
Sector focus: Beverages
Ticket size: £250,000 – £10m
AUM: ~ £210m
Current investments: 6
Acquired: 4
Bio: The first accelerator of drinks brands, Distill Ventures invests in alcoholic and non-alcoholic drinks brands with Diageo – owner of drinks brands such as Guinness and Johnnie Walker – its sole investor.
Media tech
Founded: 2014
Sector focus: Creative
Ticket size: N/A
Current investments: 18
Exits: N/A
Bio: As Channel 4’s VC arm, Indie Growth Fund invests in start-ups and independent companies within the creative sector and offers support, guidance and strategic advice.
Sky Startup Investments & Partnerships
Founded: 1995
Sector focus: Media and information tech
Ticket size: N/A
Current investments: 9
Exits: 11
Bio: Sky’s CVC arm invests in start-ups across Europe, Israel and North America, offering up to £5m of advertising space in return for equity.
Founded: 2015
Sector focus: Consumer
Ticket size: £1m – £5m of media airtime
Current investments: 22
Exits: 4
Bio: Channel 4 Ventures offers high growth companies the opportunity to leverage its advertising slots in exchange for equity. It is interested in companies at pre-Series A through to pre-IPO stage.
Founded: 2020
Sector focus: Digital, consumer
Ticket size: Up to £5m in advertising
Current investments: 9
Exits: N/A
Bio: ITV AdVentures offers TV advertising to high-growth digital-first companies at all stages of development. It looks to partner with start-ups which are best suited to media exposure, such as mass-market consumer brands.
Agnostic
Founded: 2009
Sector focus: Consumer, enterprise, frontier tech and life sciences
Ticket size: N/A
AUM: $8bn
Current investments: 400
Exits: 65
Bio: The venture capital arm of Google invests in tech companies across industry. Formally known as Google Ventures, GV has invested in the likes of Nest, Uber and Slack through to exit.
Infrastructure
Founded: 1975
Sector focus: Steel
Ticket size: N/A
Current investments:
Exits: N/A
Bio: The most active CVC in the UK, according to Beauhurst, UKSE backs companies related to steel – helping with investment, loans and premises.
More on UK corporate venture capital
Corporate venture capital – a Growth Business guide – One in five VC deals in Europe last year were corporate venture capital deals, but what is it and how can you get it?
Active UK corporate venture capital firms – Google, BP and Unilever all have their own CVC divisions backing UK-based companies. Here are those active in the UK and what they look for
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