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29 November 2017

Nobel family members establish the ‘Nobel Sustainability Growth Fund’

Members of the Nobel family, best known for the Nobel Prize series awards, are investing in a new venture capital fund focused on the support of sustainable technologies in London.

The £100 million Nobel Sustainability Growth Fund is being launched by a partnership between Sustainable Technology Investors Ltd (STIL) and the Nobel Sustainability Trust- an organisation financing clean technology innovation projects by the Nobel family as a response to climate change.

STIL, the impact investing branch of SET3 - an international group of sustainable private equity investors, will be managing the fund after having previously managed 4 other sustainable funds.

It will evaluate the sustainability of its investments using its “Earth Dividend” model, which evaluates a business’s impact on themes such as natural resources, ecosystem services, pollution, social and economic contribution and society and governance. 

The £100m fund is aiming to support 10-12 investments in UK-based ventures allocating between 3 and 10 million pounds to each.

According to Citywire, Totty and Nick Curtis, managing partners at STIL said: “The UK continues to offer a strong pipeline of investments post Brexit”.

“Sustainability, innovation and technology will continue to drive the UK economy over the next 10 years, as underlying economic and environmental drivers see institutional capital flows continue into the sustainable sector”.

The fund will receive an initial backing of £10 million ($13.3 million) provided by SET3 and Monaco’s sovereign wealth fund. 

The initiative is backed by billionaire Stephen Lansdown, co-founder of Hargreaves Lansdown, who also stressed the position of UK to lead in climate investment.

He said: “I see the UK as a long-term entrepreneurial and innovative business environment and I am delighted to back our new sustainable fund investing in UK businesses”.

Reuters argues that other regional funds will follow focusing on resource efficiency, clean energy, and sustainable technology.

You can read more about the Nobel Sustainability Trust here

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