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The Clean Growth Strategy and 2019 Green Finance Strategy announced the government鈥檚 ambition to provide up to 拢20 million to support a new clean technology early stage investment fund.

The Clean Growth Fund is a commercially run venture capital fund, which aims to speed up the deployment of innovative clean technologies that reduce greenhouse gas emissions, by making direct investments in companies seeking to commercialise promising technologies. The Fund鈥檚 focus is on commercial returns and UK based innovations that demonstrate clear reductions in greenhouse gases. The Fund鈥檚 current portfolio of investments is available from聽the .

In March 2022, the Clean Growth Fund announced the final fund size of 拢101 million, with 7 private sector investors backing the Fund, alongside BEIS.

The BEIS investment into the Fund forms part of the BEIS 拢1 billion Net Zero Innovation Portfolio, which aims鈥痶o鈥痑ccelerate the鈥痗ommercialisation of low carbon technologies, systems and business models in power, buildings, and industry.

BEIS launched a request for proposals to raise and manage the Clean Growth Fund in August 2019. Clean Growth Investment Management LLP (CGIM) was .

Further information on the fund鈥檚 eligibility criteria and investment approach is available from CGIM鈥檚 .