Sustainable Ventures, Europe’s leading climate tech hub, has committed almost a quarter (23%) of its investments to all-female founders, a figure twelve times higher than the global industry average of 1.8% for female-founded teams in Europe in 2023.
This important milestone was announced as Sustainable Ventures celebrated its 50th investment. It is striking that two-thirds (65%) of investments went to startups with female or underrepresented co-founders.
Since 2017, Sustainable Ventures has invested over £9 million in 50 climate technology startups at the pre-seed and seed stages. These companies have collectively raised a further £160 million and are now valued at over £600 million. The portfolio includes innovative companies such as Albotherm, which develops temperature-sensitive technology to reduce emissions from thermal management, and RovCo, a provider of subsea robotics.
In contrast to the wider UK startup ecosystem, where only a third of venture capital funding goes outside London, more than half of Sustainable Ventures’ portfolio companies are based outside the capital.
Sustainable Ventures’ latest investment went to Radiant Matter, a materials startup that creates shine and color effects with vegetable cellulose. Radiant Matter aims to help manufacturers and brands move away from microplastics and toxic dyes, with clients including Stella McCartney and Been London.
Sustainable Ventures focuses on companies with excellent founders, compelling intellectual property and a strong climate impact. The investment team attributes its success to a strong selection process and a unique support model, which focuses on core technologies in software, hardware and materials, and ensures a diverse founder mix.
Hardware or advanced climate engineering solutions comprise around two-thirds of Sustainable Ventures’ portfolio, with university-backed startups becoming increasingly common.
Stuart Ferguson, Investment Partner at Sustainable Ventures, explains: “Our investments outperform the market thanks to our rigorous selection process and extensive support model. We look for diverse founders who can solve critical net-zero challenges, and we avoid investing in formulaic, copycat companies without a sharp commercial focus.”
He added: “Our investment team consists of ex-founders and ex-engineers who understand the needs of entrepreneurs. We focus on the potential of founders and support them in their development into future leaders. Our diverse portfolio of successful technologies and brilliant founders benefits from Sustainable Ventures’ extensive support ecosystem. We are excited to continue supporting the next generation of diverse founders through our next 50 investments.”
Elissa Brunato, Founder and CEO of Radiant Matter, said: “Radiant Matter is excited to partner with Sustainable Ventures, whose values and commitment to climate technology are closely aligned with ours. Their extensive experience will be invaluable as we grow and expand our material platform technology. Their commitment to supporting all founders, regardless of gender, strongly affirms our vision and potential. Together we can have a significant impact on the materials industry.”