In brief: Greensphere raises £66m for nature VC fund

The firm received a £50 million commitment from the UK Infrastructure Bank, according to a statement.

Greensphere Capital has raised £66.3 million ($84.7 million; €77.7 million) for Gaia Sciences Innovation, a venture capital fund that invests in natured-based solutions to climate change and biodiversity loss.

The fundraising has been led by a commitment of up to £50 million from the UK Infrastructure Bank, according to an announcement, alongside a £15 million investment from Franks Mars, a member of the Mars family (of confectionary fame).

Greensphere was founded in 2011 by New Private Markets influencer Divya Seshamani, previously of TPG and GIC, and former Alchemy Partners managing partner Jon Moulton. Gaia Sciences Innovation launched last year with a £150 million target and has seen the firm partner with environmental science institutes across the UK to invest in three areas: greening real assets; green fintech; and human supply chain resilience.