L

Low Carbon Innovation Fund

Venture Capital

Operated by partnership: UEA, Turquoise, Norfolk County Council. Funded by ERDF, Ministry Housing/Communities/Local Gov. 50+ investments; latest: Cellexcel (seed, Mar 2024). Notable portfolio: Jiva Materials (e-waste/PCB recycling, £1m 2023), Kelda Showers (water-efficient, >£2m 2023), SKOOT Eco (carbon offset SaaS, £1.1m), Net Zero Now (climate software, £250k). 3 exits incl. Syrinix (Jan 2023).

Check Size
£250K - £450K

Investment Thesis

Co-investment fund c.£100m targeting SMEs in East of England developing environmentally beneficial tech/products/services that reduce GHG emissions. Managed by Turquoise International (18yr track record in energy, environment, efficiency). £30m ERDF + £100m private capital leveraged. Focus: seed-early stage in manufacturing, energy, software incl. energy solutions, water savings, EV, solar, building tech. Co-invests w/ angels/other funds. LCIF2: up to £450k per round.

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