Sustainable Ventures is opening a Glasgow base in partnership with Techscaler, aimed at driving climate tech startup activity in Scotland.

Sustainable Ventures is one of the leading climate tech hubs outside North America, with over 1,000 innovators based at their London headquarters. The organisation has already over 700 climate tech companies which have jointly raised over £1.1 billion in investment and created over 6,000 jobs.

Its 53 investments via seven funds to date make Sustainable Ventures one of the UK’s most active early-stage climate tech investors. The organisation recently opened in Manchester, and its base at the Barclays campus in Glasgow marks its fourth hub opening in the UK.

Speaking on the new Glasgow base, Garry Boyle, regional development associate at Sustainable Ventures, said: “We’re excited by our expansion into Scotland, and the move illustrates the importance and potential of climate tech and energy transition here. The overall plan is focussed on leveraging capital from London into Scotland alongside specialist support to help Scotland transition to net zero. We can’t wait to get started, and to get to work with founders and startups here.”

Alongside its venture capital arm, Sustainable Ventures works closely with portfolio companies through intensive 12-month programmes, one-to-one support, and the provision of professional services, to help accelerate growth and secure future funding rounds.

Techscaler, the Scottish Government’s tech startup programme run by CodeBase, is already supporting in the region of 100 climate tech companies across Scotland—startups that will now have the opportunity to access Sustainable Ventures via the partnership.

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Yasmin Sulaiman, who serves as senior VP of ecosystems at CodeBase, also commented: “Sustainable Ventures is globally recognised for its commitment to providing space, community, funding, and general support to many of the UK’s most promising climate tech startups, so their decision to launch a hub here in Scotland is great news for our fast-growing climate tech sector and the overall push towards green transition.”

Deputy first minister Kate Forbes also said: “Unlocking the ideas and innovation that will support the journey to net zero is crucial, and Scotland is already home to a significant number of startups and businesses developing important solutions to global challenges.

“This new partnership will help our newest and most exciting business ventures to develop and scale the technologies and products that will become increasingly important in the coming years, while driving Glasgow’s economy and growing its reputation as a thriving, innovative city.”