Observed Signal · Sep 8, 2026 · Funding · Source: Tech.eu (European Tech & Deals) · Impact: 2/5 · Sentiment: Positive
Clean Growth Fund II Hits £81.5M Second Close Toward £150M Target
UK climate tech investor Clean Growth Fund announced a second close of its second fund, bringing total commitments to £81.5 million (€94.5 million), advancing toward its £150 million (€174 million) target. The close was anchored by a £22.5 million (€26.1 million) commitment from Border to Coast Pensions Partnership's UK Opportunities Fund, with additional investments from Strathclyde Pension Fund (increasing its total to £30 million/€35 million), Islington Pension Fund, and East Riding Pension Fund. Fund II targets seed to Series A companies reducing carbon emissions, planning around 25 investments. It has already invested in four startups across battery, food, heavy industry, and buildings in Sheffield, Bristol, Cardiff, and London, following a place-based strategy. This news follows the fund's exit from clean heat network developer Rendesco in May 2026.
Relevant to AdTech/MarTech industry as it indicates institutional investment in climate tech, but not directly related to advertising technology or marketing; moderate importance.
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Key Takeaways & Evidence Grounding
- Clean Growth Fund II reached £81.5 million (€94.5 million) at second close, targeting £150 million (€174 million).
- Border to Coast Pensions Partnership committed £22.5 million (€26.1 million) via UK Opportunities Fund.
- Strathclyde Pension Fund increased its commitment to £30 million (€35 million).
- Fund II focuses on seed to Series A climate tech startups, planning ~25 investments.
- Clean Growth Fund exited Rendesco in May 2026 after it secured £100 million from Pioneer Point Partners.
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European VCs Raise Funds for Climate and Water Startups
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Molten Ventures Hits £175M First Close of Growth Fund
Molten Ventures, a UK-based venture capital firm listed on the London Stock Exchange, has announced the first close of its Ventures Growth Fund at £175 million (€203 million), with a target of £350 million (€407 million). The British Business Bank committed £75 million (€87 million) as a cornerstone investor, with Molten providing the remaining £100 million (€116 million). The fund will focus on Series B and later-stage investments in UK and European technology companies across sectors including space, AI, fintech, quantum, deeptech, and hardware, addressing a critical funding gap for late-stage tech firms. Molten Ventures has a track record of over 40 growth deals and £814 million invested in the past decade, and manages over £2 billion (€2.3 billion) in assets. The firm is also reportedly in line to manage the UK government's £1 billion Scale Up Fund.
Claret Capital closes €575M growth debt fund for European innovators
Claret Capital Partners, a London-based growth debt fund manager, has closed its fourth European Growth Capital Fund at €575 million, exceeding its €500 million target. The fund comprises €440 million in commitments and €135 million in an affiliated discretionary mandate. It will provide growth debt financing to technology, life sciences, and impact-focused companies across Europe. Fund IV is already 32% deployed across 27+ companies, including Billie, Cinclus Pharma, PRODA, Inventiva, and Surfe. The fund attracted commitments from institutional investors such as pension funds, insurers, family offices, and public institutions, plus private wealth via an ELTIF structure. Claret plans to expand its presence in European innovation hubs, including Paris and Berlin. Since inception, Claret has raised €1.3 billion and invested over €1.5 billion across 210+ companies.
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