Venterra announces investment from General Atlantic’s BeyondNetZero fund

Venterra Group Plc, the offshore wind energy services business, announced that BeyondNetZero, the inaugural companion fund for General Atlantic’s climate investing efforts, will become the lead investor in Venterra’s fourth fundraising round.

General Atlantic is a leading global growth equity investor. The firm’s climate solutions fund, BeyondNetZero, invests in growth companies delivering climate solutions that have the potential to meet and exceed net zero emissions targets, with a focus on decarbonisation, energy efficiency, resource conservation and emissions management.

Venterra will raise approximately £150 million ($191 million) through this latest round, comprised of equity financing from BeyondNetZero and other existing investors, as well as debt financing facilities. Venterra plans to use this round of funding to secure and finance acquisitions in the company’s deal pipeline and to invest in existing and future member companies.

Have you read?
Uniper plans €8bn green transformation as earnings rebound
Clean tech manufacturing in Hungary gets €2.4bn boost

Additionally, Venterra is set to acquire CAPE Holland, the firm specialising in offshore vibro-piling, an innovative method to install and remove ever larger monopile foundations that support increasing turbine sizes in offshore wind farms. The acquisition is expected to complete in the next several weeks.

Venterra was formed to create a global services champion supporting the offshore wind industry’s rapid expansion and leading role in the energy transition. It is building a service offering across the wind farm lifecycle comprising engineer, build and support services through a combination of acquisition and organic development to generate accelerated growth in the fast-expanding market.

Ayman Asfari, executive chairman at Venterra, said, “General Atlantic’s BeyondNetZero is fully aligned with our vision to help wind power play a leading role in the energy transition. As we build our platform of services for offshore wind development, we are helping meet the industry’s urgent need for a sustainable supply chain with the necessary resources and skills.

Upon completion of the current funding round, Lord Browne, Chairman of Climate & Sustainability investing at General Atlantic, will be appointed as non-executive director of Venterra and Tjada D’Oyen McKenna the CEO of Mercy Corps will also join the board as non-executive director from the 1st of September.