TLDR:
Key Points:
- Redwheel has launched a growth-stage UK climate tech fund in partnership with Turquoise.
- The fund will focus on providing growth capital for UK companies addressing environmental challenges.
Redwheel has entered the venture capital market with the launch of a growth-stage UK climate tech fund in partnership with Turquoise. The Redwheel Turquoise ClimateTech fund aims to provide growth capital for UK companies with technology or services that address environmental challenges and promote sustainability to deliver measurable impact. The investment team will focus on companies in the energy, transport and mobility, and resource efficiency sectors that have demonstrated potential to disrupt their industries in the near term.
The CEO of Redwheel, Tord Stallvik, expressed that this partnership and expansion into the private sphere is a natural progression for the company. The fund’s launch comes at a time when climate tech investment is on the rise and there is a growing need for innovative solutions to combat environmental challenges.
In addition to the fund launch, AXA Investment Management’s Amanda O’Toole has joined Redwheel, further strengthening the team’s expertise in climate tech investing. This move signals Redwheel’s commitment to making a significant impact in the climate tech space and supporting sustainable business practices.
Through this strategic partnership and fund launch, Redwheel is poised to play a key role in driving innovation and sustainability in the UK’s climate tech sector, providing growth capital to companies that are addressing crucial environmental issues.
