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Charman in Elbow Beach capital venture

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A London-based impact investment company that is named after one of Bermuda’s iconic beaches has announced the launch of a venture vehicle with an initial £20m of committed capital, focused on decarbonisation, sustainable energy, and social-impact opportunities.

Elbow Beach Capital said it invested in early stage businesses whose technologies had the potential to solve the planet’s biggest challenges, while simultaneously achieving significant commercial growth.

The fund targets long-term value creation, while working with founders and entrepreneurs to accelerate the development and implementation of positive-impact technologies.

Elbow Beach said it would invest across a range of opportunities including: innovative and disruptive technologies, which decarbonise supply chains and create profitable circular economies; sustainable energy technologies and infrastructure, which reduce dependence on fossil fuels; and those which have a social impact, improving quality of lives through improved access and reduced costs.

The company was co-founded in 2021 by experienced investor and company chairman Nick Charman, commercial and go-to-market strategist Jonathan Pollock, and conservation, sustainability and environmental technology expert, Thomas Hardy.

Mr Charman is the son of veteran insurance industry leader John Charman.

He said: “Early stage investment plays a vital role in the advancement of industrywide solutions to mitigate climate change and improve lives.

“Elbow Beach Capital is committed to ensuring that every investment it makes helps to protect the future of our planet, its inhabitants, and its unique ecosystems.”

The company said it would make investments both within the United Kingdom, where it is headquartered, and globally, typically allocating between £0.5 million to £1.5 million of long-term growth capital to support:

•Early-stage businesses (pre-seed to Series A)

•Innovative and purpose-driven entrepreneurs with a commitment to improving lives

•Unique and scalable solutions to significant social and environmental problems

•Commercially viable companies with a clear runway to financial growth

Mr Pollock, the company CEO, said: “The sustainability and environmental technology sectors are expanding but growth will need to accelerate dramatically if governments are to meet their ambitious climate targets.

“We see a massive opportunity for value creation in early-stage investment across a range of impact verticals. We are excited to start backing innovative and purpose-driven entrepreneurs.”

Mr Hardy, the company CTO, added: “We are thrilled to be in a position to put our weight behind sustainable businesses with significant potential.

“We are looking forward to supporting founders in optimising their technologies and balancing growth and sustainability during a period of unprecedented innovation within impact sectors.”

With £20 million immediately deployable, Elbow Beach said it expected to announce several investments in March and April.

The company said Elbow Beach Capital was named after Elbow Beach because, over the course of their lives, each of the company’s founders has enjoyed Elbow Beach's waters, wildlife, and coral reef.

It added: “But the impact of climate change is becoming clearer and more worrying with every passing day. Weather patterns are changing, storms are worsening, and sea levels are rising.

“Small islands, such as Bermuda, are at the frontline, with those on the lowest incomes hit hardest by the negative economic consequences of climate change.

“Elbow Beach Capital is committed to ensuring that every investment we make helps to protect the future of our planet, its inhabitants and its ecosystems through technological advancement.”

The company has also launched the Elbow Beach Foundation, which will identify two projects or organisations enabling positive social or environmental change and donate £25,000 to each of them annually.

In addition, Elbow Beach Capital said it would commit one per cent of its annual net profits to the foundation.

Nick Charman, co-founder and chairman of Elbow Beach Capital
Jon Pollock, co-founder and CEO of Elbow Beach Capital
Thomas Hardy, co-founder and CTO of Elbow Beach Capital

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Published March 18, 2022 at 8:00 am (Updated March 17, 2022 at 7:38 pm)

Charman in Elbow Beach capital venture

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