A cleantech investment firm has launched its first venture fund targeting green businesses.
Glasgow-based Greenbackers Investment Capital’s Cleantech Fund will direct money into businesses working to reduce negative environmental impacts through energy efficiency and sustainable use of resources, green economy start-ups and emerging private companies.
The fund plans to make new investments quarterly – in its first stage, investments were made in early-stage companies across the UK, with the second round expected to focus mainly on Scotland.
Investments will initially range from £25,000 to £100,000, with the firm planning to increase these amounts as the fund becomes established.
CEO and Managing Partner Robert Hokin said: “There is excellent and quite often overlooked growth potential in the UK’S emerging cleantech sector – more so in Scotland. This fund is the start of meaningful and long overdue support.”