Home » Giant Ventures raises £197m across two ‘purpose-driven’ funds

Giant Ventures raises £197m across two ‘purpose-driven’ funds

London-based Giant Ventures has raised $250m (£197m) across two new investment funds targeting “purpose-driven technology”.

The VC funds will back firms in the UK, US and the Nordics operating in climate tech, health tech and inclusive capitalism.

The first fund, worth $100m, will back 25 companies at the seed stage, while the second $150m fund will be focussed on Series B and beyond investments for climate tech.

The climate tech sector has become one of the UK’s best-funded, however, there has been a notable gap in later-stage funding for climate tech, which the Giant fund aims to plug.

“Our vision is to create the world’s leading engine of purpose-driven innovation,” said Cameron McLain, co-founder and managing partner of Giant.

“We deliver top returns by partnering with the most ambitious founders using technology as a force for good.”

Previous investments made by Giant include the mental health app Calm, carbon removal platform Agreena, energy storage startup Field and virtual hospital Doccla.

“We believe the biggest technology companies of the decade will be built by solving climate change and improving healthcare – two of the most urgent issues facing humanity,” added Giant co-founder Tommy Stadle.

Giant Ventures recently opened a new headquarters in London’s Notting Hill and has team members in California, New York, Stockholm and Copenhagen.