Liberty Global Ventures, the investment arm of Liberty Global has struck a strategic partnership with specialist impact investment firm Avesta Capital which will see it initially invest $2 million to help promote diversity and inclusion and tackle the global challenges of climate change and inequality. With this close, Avesta Capital has now raised over 80% of its target $20 million fund.
Avesta will use the capital to provide seed investment to start-ups that specifically offer scalable solutions to issues such as boosting economic opportunity or aiding the fight against climate change. Avesta also has a policy of prioritizing support for entrepreneurs from diverse backgrounds.
Avesta’s fund aims to bridge the technology start-up and impact investing ecosystems, providing specialist expertise to help technology companies that can have significant impact at scale connect with impact investors. Start-ups backed by the Avesta Fund include Line Financial, working to improve the financial well-being and inclusion of people who work in the gig economy and WattBuy, who help improve access to cheaper and cleaner electricity for renters across America.
Liberty Global Ventures has investments in more than 75 companies and funds in the fields of content, technology and infrastructure. The group’s technology investments are scalable across international markets, with deals ranging in size from $5 million to $30 million. Its portfolio includes a number of innovative and high growth companies such as Aviatrix, Lacework, Pax8, Pensando and Plume.
John Gowen, Managing Director, Liberty Global Ventures
Building on our strong sustainability credentials, this strategic partnership allows us to be early backers of companies that are tackling some of the biggest and most pressing issues facing society.
Srikant Vasan, Managing Partner, Avesta Capital
We’re pleased to extend this to supporting start-ups that reflect our own values around diversity, equity and inclusion, and working with Avesta to encourage entrepreneurs from diverse backgrounds to scale up and make a difference.
