Green Angel Syndicate (GAS) says its 5th Climate Change Fund has raised a record amount in record time. The fund is said to be almost 2X the prior fund.
Green Angel did not disclose the amount of the fund, which is an EIS vehicle, but it started promoting the fund in January.
The Climate Change Fund invests only in early-stage companies fighting climate change. So far, the company has backed 35 early-stage firms to date.
Chief Investment Officer, Antoine Pradayrol, believes that tackling climate change requires a dramatic transformation as it is a massive challenge but also a significant opportunity.
“Having seen continuing strong demand throughout our network for climate investments in the latter part of 2022, our expectation was that this round of the Climate Change Fund would be relatively buoyant. When we opened shortly after New Year, though, we saw a surge that took us a little by surprise.”
Green Angel Syndicate CEO Cameron Ross says the levels of interest they are seeing in new deals since Christmas is astonishing.
“We had an excellent year to December 2022, and our expectation is that, far from fading, climate investment will continue to expand in 2023 and onwards.”
GAS reports over 350 members and has invested across the following sectors: energy, transport, buildings, food & agriculture, waste & recycling, and environment.
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