Giant Ventures, a London, UK-based firm that builds and backs technology companies, launched two funds, at $250M.
In details, the raise included:
- a $100M seed fund which will back 25 early-stage companies, and
- a $150M climate-focused growth fund, which fills a major Series B climate funding gap, providing scale-up capital for climate technology companies.
The funds have already made 10 investments in total.
Giant received capital from a broad alliance of institutional investors including BMW, Henkel, RIT Capital Partners, clients of Cambridge Associates, Stepstone, Denmark’s sovereign investment fund, and The Nature Conservancy. Individual backers included Sir Richard Branson, the founders of Booking.com, Unity, and SoFi, as well as current and former CEOs and board members of Rolls Royce, Goldman Sachs, Intel, bp, Johnson & Johnson, Standard Chartered, McKinsey and GSK.
Its portfolio success stories include:
- the $2 Billion mental health app Calm,
- carbon removal platform Agreena – responsible for regenerative farming being adopted across two million hectares of land,
- energy storage startup Field, which has raised $300M, and
- virtual hospital ward company Doccla.
Founded by Cameron McLain, an exited tech founder and leading angel investor formerly of Hummingbird Ventures, and Tommy Stadlen, co-founder of Swing (acquired by Microsoft) and best-selling sustainability author who worked for President Obama on climate policy, Giant builds companies in-house, and invests in founders. Early successes from the incubation program include green home renovation platform Beams, launched with Bulb founder Hayden Wood; US education fintech Meadow; battery storage marketplace Haven, launched with the founders of Casper; and Baton, a marketplace to buy and sell small businesses.
The firm has team members in California, New York, Stockholm and Copenhagen. Venture Partners included Bulb founder Hayden Wood, Ganni founder Nicolaj Reffstrup, former Jimmy Choo CEO Pierre Denis and Block Renovation founder and ex-Huffington Post COO Koda Wang. Advisory board members include former BP CEO Lord Browne, former British Foreign Secretary David Miliband, and 23andme founder Linda Avey.