Corporate venture capital is venture capital provided by large companies to fast-growing start-ups. Companies such as Google, BP and Unilever all have their own CVC divisions supporting UK companies within their sectors.
Unlike standard venture capital firms, CVCs work much more closely with their portfolio companies in developing a particular mutually beneficial technology.
Here we provide an overview of active CVCs in the UK, what they are looking for and how much they are investing.
InMotion Companies
Founded: 2016
Sector focus: Electrification, Metaverse, connectivity, digital services, talent, Industry 4.0
Ticket size: £250,000 – £2 million
Current investments: 17
Outputs: 7
Bio: InMotion Ventures invests from inception to Series B in startups that align with its electrification, connectivity and sustainability strategies.
BP Ventures
Founded: 2006
Sector focus: digital transformation, low carbon products, advanced mobility, carbon management, energy and storage, intelligent raw materials
Ticket size: N/A
Current investments: 30
Outputs: 9
Bio: BP Ventures invests in companies that align with its core activities, including companies that help BP reduce carbon emissions.
Unilever Companies
Founded: 2002
Sector focus: Beauty and well-being, commerce and enabling technologies, B2B/Enterprise technologies
Ticket size: $500,000 to $15 million
Current investments: 60
Outputs: 63
Bio: Unilever is one of the largest consumer goods companies in the world and its venture arm invests in emerging consumer brands and technologies – from seed stage through to Series D.
Legal and general capital
Founded: 2013
Sector focus: Clean energy, commercial real estate, investing, SME financing, housing, data centers
Ticket size: N/A
Current investments: N/A
Outputs: 2
Bio: Legal & General’s investment arm invests in a wide range of sectors, from real estate to energy and finance, with the aim of ‘improving the social and physical environment’.
UKSE
Founded: 1975
Sector focus: Steel
Ticket size: N/A
Current investments: N/A
Outputs: N/A
Bio: According to Beauhurst, UKSE is the most active CVC in Britain and supports companies involved in the steel sector – helping with investment, loans and premises.
Race answer
Founded: 2014
Sector focus: Deep technology, AI, Internet of Things
Ticket size: $1 million – $5 million
Current investments: 12
Outputs: 8
Bio: Breed Reply invests in deep tech companies across Europe, with a particular focus on AI. It invests in the seed and series A phases.
Indie Growth Fund
Founded: 2014
Sector focus: Creatively
Ticket size: N/A
Current investments: 18
Outputs: N/A
Bio: As Channel 4’s VC arm, Indie Growth Fund invests in start-ups and independent companies within the creative sector and provides support, guidance and strategic advice.
Gv
Founded: 2009
Sector focus: Consumer, enterprise, frontier technology and life sciences
Ticket size: N/A
AUM: $8 billion
Current investments: 400
Outputs: 65
Bio: Google’s venture capital arm invests in technology companies across the industry. Formerly known as Google Ventures, GV has so far invested in companies like Nest, Uber, and Slack.
Martlet Capital
Founded: 2011
Sector focus: B2B deep tech, life sciences
Ticket size: Up to £250,000 in the first round
Current investments: 41
Outputs: 7
Bio: With a primary focus on start-ups in the Cambridge area, Martlet Capital focuses on start-ups in AI, machine learning, digital health, quantum technologies and advanced medicine.
Channel 4 Ventures
Founded: 2015
Sector focus: Customer
Ticket size: £1 million – £5 million of media airtime
Current investments: 22
Outputs: 4
Bio: Channel 4 Ventures offers fast-growing companies the opportunity to leverage its advertising spaces in exchange for equity. It is interested in companies in the pre-Series A stage through the pre-IPO stage.
ITV Adventures
Founded: 2020
Sector focus: Digital, consumer
Ticket size: Up to £5 million in advertising
Current investments: 9
Outputs: N/A
Bio: ITV AdVentures provides TV advertising to fast-growing digital-first companies at all stages of development. It aims to partner with start-ups best suited for media attention, such as mass-market consumer brands.
Mouro Capital (formally Santander InnoVentures)
Founded: 2014
Sector focus: Fintech
Ticket size: Up to $15 million
AUM: $400 million
Current investments: 38
Outputs: 10
Bio: Mouro Capital, part of the Santander bank, looks for innovations in the financial sector in all phases of the life cycle.
Sky Startup Investments and Partnerships
Founded: 1995
Sector focus: Media and information technology
Ticket size: N/A
Current investments: 9
Outputs: 11
Bio: Sky’s CVC arm invests in start-ups across Europe, Israel and North America, offering up to £5m of advertising space in return for equity.
Distill companies
Founded: 2013
Sector focus: Drinks
Ticket size: £250,000 – £10 million
AUM: ~£210 million
Current investments: 6
Purchased: 4
Bio: Distill Ventures, the first drinks brand accelerator, invests in alcoholic and non-alcoholic drinks brands, with Diageo – owner of drinks brands such as Guinness and Johnnie Walker – as the sole investor.
Shell companies
Founded: 1996
Sector focus: Power, mobility, emissions management, digital, resources
Ticket size: $2m – $5m initial investment
Current investments: 90
Outputs: 15
Bio: Founded in 1996, Shell Ventures was one of the first CVCs in the energy sector. At a time of great change, the company wants to invest in the companies that can help accelerate the transition to net zero.
National network partners
Founded: 2018
Sector focus: Energy
Ticket size: N/A
Current investments: N/A
Outputs: 6
Bio: National Grid Partners invests in companies that make the electricity grid “safer, cleaner and smarter” by investing at all stages of financing.
Centrica innovations
Founded: 2017
Sector focus: Energy
Ticket size: N/A
Current investments: N/A
Outputs: N/A
Bio: Centrica’s CVC arm is looking for start-ups in the energy sector that will complement and support Centrica’s existing activities in energy and digital technology.
RWE Energy transition investments
Founded: 2011
Sector focus: Energy transition
Ticket size: N/A
Current investments: N/A
Outputs: N/A
Bio: RWE Energy Transition Investments supports companies that help with the transition to carbon neutrality in the energy sector by 2040.
SC Ventures
Founded: 2018
Sector focus: Fintech
Ticket size: $1 million – $10 million
Current investments: 22
Outputs: N/A
Bio: SC Ventures by Standard Chartered invests in disruptive fintech in the stages from Series B to pre-IPO, which can be integrated into the company’s product and service offering.
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