UK-based Sky Group announced on Monday that it is anchoring a new £100M (approximately €116.57M) ‘operator-first’ venture capital fund called Planet Fund. Powered by London-based Founders Factory, the fund will back early-stage entrepreneurs launching planet-positive technologies.
Planet Fund, which aims to close the funding gap for seed-stage climate firms, provides entrepreneurs with Founders Factory’s holistic approach to company formation, including high-conviction money, execution assistance, and an unrivalled network.
The new fund will focus on broad sustainability topics such as decarbonisation, resource preservation, climate resilience, and the circular economy.
Founders Factory’s CEO, Henry Lane Fox, says, “We felt compelled to build this fund both by the urgency of the problem and the scale of the opportunity. We’ve seen a huge migration of tech talent wanting to work in the climate, and know there is a gap to provide high-conviction capital & hands-on support to the next generation of ambitious planet-focused companies. We’re excited to have Sky, one of Europe’s leading voices on climate, as our first partner.”