Top UK Impact Investing Funds
With growing demand for sustainable solutions and measurable social or environmental outcomes, more investors are putting their capital to work in ways that align financial returns with positive change. From renewable energy to social enterprises, UK funds are backing companies that tackle some of the world’s most pressing challenges.
At Beauhurst, we track 105 impact-focused funds across the UK and Europe, giving us a unique view of the market’s activity and direction. This blog spotlights the top funds making the biggest difference, and the scale of their role in shaping the UK’s transition to a more sustainable economy.
Key highlights from the UK impact investing landscape
Beauhurst data shows both the resilience and evolution of impact investing over the past five years.
Industries
The strongest concentration of investment has been in renewable energy (8.8%), followed by energy management and reduction (7.6%) and energy storage (4.4%). These areas reflect the UK’s wider commitments to net zero and the urgent demand for scalable climate solutions.
Deal volumes and value
After peaking in 2021 with 231 fundraisings worth £1.95b, the market saw a dip in 2022 and 2023, before stabilising in 2024 at £1.42b invested across 209 deals. So far in 2025, we’ve tracked £536m raised across 70 deals (as of 29 September), suggesting investors remain committed despite challenging economic conditions.
Stage of evolution
Nearly half (48%) of these deals have taken place at the Seed stage, underlining the role of impact funds in backing early innovation. A further 36% were at the Venture stage and 12% at the Growth stage, demonstrating how capital is distributed across the company lifecycle.
This balance could indicate that the UK is not only nurturing a pipeline of young mission-led companies, but also supporting their growth as they prove their commercial and social impact.
Impact investing in the UK continues to grow in significance, bridging the gap between financial performance and societal progress. With over 100 dedicated funds and billions invested into sustainable technologies and businesses, the market is helping to position the UK as a global leader in responsible finance.
Let’s take a closer look at the funds leading the charge in this space.
Most Active Angel Networks in the UK
The top 10 impact investing funds in the UK
Ascension
Total amount invested: £391m
Number of fundraisings completed: 255
Total companies invested in: 193
Founded in 2015, Ascension has become one of the UK’s most active early-stage investors, backing some of the country’s most promising startups. With a focus on mission-driven innovation, the fund has invested in 193 companies across 255 fundraisings, deploying a total of £391m into high-growth businesses. Ascension’s activity is particularly concentrated in the application software sector.
The fund’s commitment to supporting founders at the earliest stages of their journey is clear: 65% of its investments are at Seed-stage, with a further 32% at Venture and 3% at Growth-stage.
Their hands-on approach and early belief in founders helped Ascension earn the title of Seed VC of the Year 2022 at the UK Business Angels Association Awards. Today, it remains a standout player in the UK impact investing space, fuelling innovation and scaleups with purpose at their core.
Wellcome Trust
Total amount invested: £433m
Number of fundraisings completed: 15
Total companies invested in: 13
As one of the world’s largest charitable foundations, the Wellcome Trust plays a unique role in the UK’s impact investment landscape. Unlike traditional venture funds, it blends awards, equity and grants to advance breakthroughs in health and life sciences. With £433m deployed across 15 fundraisings and investments in 13 companies, the Trust continues to use its capital as a catalyst for global health innovation.
Its activity is most concentrated in the pharmaceuticals industry with life sciences emerging as a defining theme across its portfolio. Investment sizes range widely – from as little as £3.5k to as much as £20m – reflecting a flexible approach that allows it to back early discovery projects as well as commercial scaleups.
Climate Investment Catalyst Fund
Total amount invested: £441m
Number of fundraisings completed: 29
Total companies invested in: 18
The Climate Investment Catalyst Fund is the corporate investment arm of the Oil and Gas Climate Initiative (OGCI), a global consortium of major energy companies working to cut greenhouse gas emissions. Since launch, the fund has channelled £441m across 29 fundraisings, backing 18 companies that are pushing the boundaries of cleantech innovation.
Its portfolio leans towards later-stage investment, with 52% at Growth-stage and a further 41% at Venture. The most common industry focus is data provision and analysis, reflecting the need for advanced insights and technologies to measure, manage, and ultimately reduce carbon output. By directing corporate capital into scalable solutions, the fund is helping drive systemic change in one of the world’s most challenging industries.
Centrica
Total amount invested: £443m
Number of fundraisings completed: 16
Total companies invested in: 13
The Centrica investment arm has committed £443m across 16 fundraisings, backing 13 companies that align with its mission to accelerate the energy transition. With the flexibility to invest at Seed, Venture, Growth and Established stages, Centrica positions itself as a long-term partner for businesses driving innovation in the energy sector.
The fund does not publish a typical investment range or exit horizon, reflecting a tailored approach that adapts to the needs of each company. Collaboration is a hallmark of its strategy: Centrica has frequently co-invested alongside leading names such as SET Ventures, Munich Venture Partners and Oxford Science Enterprises, underscoring its role at the centre of a wider ecosystem of climate and clean energy investors.
Scottish National Investment Bank (SNIB)
Total amount invested: £477m
Number of fundraisings completed: 52
Total companies invested in: 35
Launched as the UK’s first mission-led development bank, the Scottish National Investment Bank (SNIB) is helping to transform Scotland’s economy by backing businesses that deliver both financial returns and long-term societal impact. Since its creation, the Bank has channelled £477m across 52 fundraisings, investing in 35 companies with a focus on sectors that support sustainability and innovation.
SNIB typically invests between £1m and £50m, using a blend of equity and loans to provide the right support at the right stage. Its portfolio is most active in renewable energy, while “digital and technologies” is a recurring theme across investments. With more than half of deals made at the Venture-stage, alongside significant Growth and Seed activity, SNIB is playing a pivotal role in driving forward Scotland’s green and digital transition.
Grosvenor Food & AgTech
Total amount invested: £547m
Number of fundraisings completed: 22
Total companies invested in: 16
Established in 2012 by Grosvenor, Grosvenor Food & AgTech is a specialist fund dedicated to shaping the future of food and agriculture. To date, it has invested £547m across 22 fundraisings, supporting 16 companies that are pioneering solutions in food production, sustainability, and agritech innovation.
The fund takes a broad approach, backing businesses from Seed through to Growth-stage – with the majority of activity at Venture (8 fundraisings) and Growth (9 fundraisings). While it doesn’t disclose a standard investment range or exit horizon, Grosvenor Food & AgTech has demonstrated a long-term commitment to scaling businesses that address the fundamental challenges of feeding a growing population more sustainably.
Dementia Discovery Fund (DDF)
Total amount invested: £576m
Number of fundraisings completed: 28
Total companies invested in: 19
Founded in 2015, the Dementia Discovery Fund (DDF) is the world’s largest venture capital initiative dedicated exclusively to tackling dementia. With £576m invested across 28 fundraisings and backing for 19 companies, the fund is at the forefront of developing and enabling novel therapeutics to address one of the greatest healthcare challenges of our time.
The fund typically invests in advancing research and development in Seed and Venture-stage companies, taking an average stake of 49% with around £22.1m per deal. This high-conviction approach reflects DDF’s mission to accelerate breakthroughs in dementia treatment, moving innovations from the lab bench to patients worldwide. By concentrating capital and expertise in this critical area, the fund has carved out a unique position in both the UK and global life sciences landscape.
Environmental Technologies Fund (ETF Partners)
Total amount invested: £580m
Number of fundraisings completed: 53
Total companies invested in: 31
The Environmental Technologies Fund (ETF Partners) has been a driving force in Europe’s sustainability investment landscape, backing companies that deliver both commercial success and environmental impact. With £580m deployed across 53 fundraisings, the fund has supported 31 businesses at the forefront of the cleantech revolution.
On average, ETF Partners invests £11.6m per deal, at a pre-money valuation of around £37m, typically taking a 28% stake. Its portfolio is weighted towards Growth-stage companies (57%), with a strong presence in Venture (33%), and selective investments at Seed and Established-stages. This strategy positions the fund as a long-term partner for scaling impactful innovations that can reshape industries and accelerate the transition to a greener economy.
Zouk Capital
Total amount invested: £606m
Number of fundraisings completed: 24
Total companies invested in: 19
Founded in 1999, Zouk Capital has built a long-standing reputation as one of the UK’s leading sustainability-focused private equity firms. Over more than two decades, it has channelled £606m into 24 fundraisings, backing 19 companies that are shaping the future of clean and resource-efficient technologies.
Zouk typically invests at the Growth-stage (67%), with further activity at Venture and Seed level, reflecting its focus on scaling proven innovations. On average, the fund commits £30.3m per deal, at pre-money valuations of around £93m, taking a 19% stake.
This combination of deep capital and strategic support has made Zouk a pivotal player in driving the UK’s low-carbon transition, with a portfolio that continues to influence industries well beyond finance.
Outward VC
Total amount invested: £659m
Number of fundraisings completed: 37
Total companies invested in: 22
Founded in 2017 by Investec Bank plc and rebranded from INVC to Outward VC in 2019, the fund has quickly established itself as a heavyweight in the UK’s impact investing space. To date, it has channelled £659m into 22 companies across 37 fundraisings, with a focus on scaling transformative businesses.
Outward VC typically enters funding rounds of up to £5m, often taking a significant position by contributing at least 50% of the round. While it prefers ownership stakes of 10–15%, the fund’s average deal has seen £17.8m invested at a £61m pre-money valuation, with an average stake of 27%.
Its portfolio spans Seed, Venture and Growth transactions, weighted most heavily towards the Venture stage (43%), reflecting its strategy of supporting companies through multiple rounds and stages of development.
The future of impact investing in the UK
The future of impact investing in the UK looks set to be shaped by three converging forces: regulation, investor appetite, and innovation.
On the regulatory side, the UK’s commitment to achieving net zero by 2050 and the continued development of sustainable finance frameworks will push more capital into impact-aligned funds. Clearer definitions of what counts as “sustainable” or “impact-driven” are also likely to bring greater accountability and transparency across the market.
Investor appetite shows no signs of slowing. Institutional investors, family offices and even retail investors are increasingly seeking opportunities that combine returns with measurable social or environmental benefits. This trend is particularly strong among younger investors, who are placing sustainability and purpose at the centre of their portfolios.
Finally, innovation will be key. From clean energy storage to circular economy models, impact funds are expected to continue supporting breakthrough technologies and business models. With nearly half of UK impact investments happening at the Seed stage, the pipeline of future-focused companies is already strong. As more of these businesses scale, we’re likely to see impact investing move from niche to mainstream within UK finance.
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