“A new era of hope and progress”: the success of GAS EIS Climate Change Fund Round 4

In her speech to the UN General Assembly last week, new Prime Minister Liz Truss spoke (among other things) of the importance of acting collectively to "deal… with the impact of climate change" and ended with the words "together we can define this new era as one of hope and progress". While we wait to see if the UK Government will act on what the Climate Change Committee (CCC) warns are "major failures in delivery programmes" and "scant progress" being made towards Net Zero, we can report that Green Angel Syndicate is forging ahead with investment in climate change solutions.

Round 4 of the Green Angel Syndicate EIS & SEIS Climate Change Fund opened on Friday 1st July and closed on 22nd September, having exceeded its minimum funding target by 50%. The round was evenly split between GAS members and non-members, and 45% of investors had invested in one or more previous rounds of the Climate Change Fund.

The Climate Change Fund enables High Net Worth Individuals or Sophisticated Investors who are passionate about reducing and reversing carbon emissions (but who are not necessarily angel investors) to invest in pioneering grassroots innovations. The more successful the Fund is, the greater the impact will be, as each round accelerates the growth of early stage companies fighting climate change. So far, the Climate Change Fund has invested in 14 start-ups, ranging from energy efficiency, protecting the environment and sustainable construction to seaweed refining and behavioural change in shopping habits.

Green Angel Syndicate is one of the largest angel syndicates in the UK and specialises exclusively in the fight against climate change. It supports founders in raising the finance that will allow them to scale up and make a significant impact in reducing or reversing the greenhouse gas emissions.

Antoine Pradayrol, Chief Investment Officer of the GAS Climate Change Fund says: "Tackling climate change needs all sectors of the economy to transform. The more the GAS Climate Change Fund raises, the more we can accelerate the development of innovative companies leading the bottom-up changes that are required – from energy to mobility and from industry to agriculture."

Cam Ross, CEO of Green Angel Syndicate says: "The Climate Change Fund invests in the same companies as our specialist Green Angel Syndicate members, who bring their expertise and knowledge to help select, qualify, and grow these investments. Climate Change Fund investors can therefore take advantage of this unique specialisation, and improve the carbon impact their money is making."

Nick Lyth, Founder and President of GAS comments: "The successful close of the fourth round of the GAS Climate Change Fund demonstrates the passion and commitment of investors to do something about climate change. Ultimately, the Fund is helping to scale up those solutions needed to reduce and reverse greenhouse gas emissions. The more we raise, the better we can fight climate change."

The GAS Climate Change Fund supports the deals invested in by GAS, drawing on the specialist expertise of the Syndicate and using the same high standards of due diligence. The Fund, launched by Green Angel Syndicate in association with SFC Capital Partners, is overseen by specialists with depth and breadth of knowledge on climate change, innovation and investment that is unmatched in the UK angel investment market.

*Risk disclaimer: Investment in early-stage companies involves risks such as illiquidity, lack of dividends, loss of investment and dilution. Even when diversified within a fund, investing in early stage companies carries a higher risk than investing in more established companies. Investment in EIS and SEIS funds should be considered as part of a diversified portfolio. For professional investors only.

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