Barclays Climate Ventures’ 2024 impact report reveals the portfolio’s impact on climate tech companies, enabling £508m of investment since 2020.

Climate tech companies often do not have the risk/return profiles pursued by either traditional venture capitalists or infrastructure funds, leading to a ‘missing middle’ financing gap. Barclays Climate Ventures, through helping to address this financing gap and having invested £203m into early and growth stage climate tech globally since 2020 and helping finance them has enabled a further £305m of third-party investment, the equivalent to £2.18 for every £1.

With data calculated by the Carbon Trust, today’s report also quantifies the broader impact of Barclays Climate Ventures’ investments, such as the 1,309 jobs created by the portfolio companies, including 664 across the UK alone.

Steven Poulter, head of Barclays Climate Ventures said: “The UK is home to a thriving climate tech ecosystem, but to unlock the sector’s economic potential, we must find ways to address the financing gap that holds back their growth. Today’s report shows that, through a willingness to adjust our risk appetite and take a new approach, we have been successful in catalysing investment into climate tech, capable of delivering UK economic growth, energy security and emissions reductions at scale. We now call for more investors to join us on this journey.”

Barclays Climate Ventures has a mandate to invest £500m of equity capital in climate tech start-ups between 2020 and the end of 2027.

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