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Greensphere Capital, a prominent investment adviser, has successfully secured £66.3 million in conditional capital for its Gaia Sciences Innovation fund.
This fund aims to support businesses that leverage innovation and intellectual property from leading British bioscience and environmental science institutes to address climate change and biodiversity loss.
The fundraising effort was led by the UK Infrastructure Bank, committing up to £50 million on a match-funding basis. Additionally, Frank Mars, a Member of the Board of Directors at Mars, Inc., has invested £15 million and will serve as the chair of the fund’s advisory committee.
Gaia Sciences Innovation involves a consortium of esteemed British bioscience and environmental science institutes, including Royal Botanical Gardens, Kew, ZSL, University of York, and others. With over 4,000 scientists and researchers, these institutions aim to drive innovation and develop solutions to pressing environmental challenges.
The funds raised will be allocated to support start-up, spin-out, and scale-up businesses associated with these institutes, focusing on regions such as York and Norwich. The investments will enable the development of products and services aimed at mitigating biodiversity loss and combating climate change.
The investment from the UK Infrastructure Bank underscores its commitment to fostering natural capital investments and supporting the transition to a net-zero economy. This aligns with the bank’s mission to spur regional growth while addressing environmental concerns.
Divya Seshamani, Managing Partner of Greensphere Capital, expressed gratitude for the support from investors like the UK Infrastructure Bank and the Mars family, emphasizing the shared values of sustainability and profitability. Frank Mars highlighted the importance of collaboration in driving innovation, underscoring the role of Gaia Sciences Innovation in nurturing bioscience ventures that contribute to a healthier planet and economy.
John Flint, CEO of the UK Infrastructure Bank, emphasized the significance of scaling investment in natural capital projects to achieve net zero goals. He highlighted the role of matched funding in supporting the commercialization of science and technology crucial for advancing nature-based solutions.
Overall, the Gaia Sciences Innovation fund represents a collaborative effort to harness scientific expertise and innovation for the betterment of the environment and society, with the backing of key investors and institutions committed to sustainability.
