Blume Equity Gains BPC Backing for Debut Climate Fund

Blume Equity LLP, a growth-stage venture capital firm focused on climate-tech investments, has successfully secured two key investors, British Patient Capital (BPC) and Queensland Investment Corporation (QIC), as Limited Partners (LPs) in its Fund I. A significant milestone in this partnership is BPC’s €25 million commitment to the fund, which underscores the investor's confidence in Blume Equity’s potential to drive impactful climate solutions.

Blume Equity is led by Clare Murray, Michelle Capiod, and Eleanor Blagbrough, and is distinguished by its 100% female-owned and led structure. The firm operates out of London and Amsterdam and primarily invests in European companies that address climate and environmental challenges. As a growth-stage investor, Blume is focused on supporting businesses that are scaling up solutions aimed at combating climate change and fostering environmental sustainability.

An important aspect of this collaboration is Blume Equity and BPC's mutual commitment to advancing gender equality in the venture capital sector. Both parties have signed the *Investing in Women Code*, a UK government initiative aimed at improving female entrepreneurs’ access to finance, particularly in venture capital. The code is crucial in an industry where women are significantly underrepresented. According to Pitchbook, only 11% of senior investment roles at UK firms and their European offices are held by women, a statistic that highlights the persistent gender gap in the sector.

Christine Hockley, Managing Director of Funds at British Patient Capital, emphasized the importance of this partnership in driving change in the venture capital landscape. “We are pleased to make this commitment to Blume Equity as they work to invest in the modern, green economy and support the transition to net zero. Providing growth-stage companies with the capital they need to grow rapidly and address emerging opportunities sits at the core of our investment strategy,” she noted. Hockley also highlighted the dual benefits of promoting female entrepreneurship, stressing that it is not only socially beneficial but also drives business performance, ultimately leading to better returns.

Blume Equity’s focus on climate-tech comes at a critical time, with the climate crisis becoming more pressing. Clare Murray, Co-Founding General Partner at Blume Equity, expressed the urgency and opportunity in investing in companies that are addressing these challenges. “With the consequences of climate change omnipresent, there has never been a more exciting nor urgent time to be investing in companies tackling the climate crisis,” said Murray. She emphasized Blume Equity’s commitment to partnering with innovative companies and supporting their scale-up journeys, particularly in the context of Europe’s efforts to transition to a greener economy.

Blume’s investments span a range of sectors within the climate-tech space, including renewable energy, sustainable materials, energy efficiency, and technologies that promote the circular economy. By investing in companies with proven solutions, Blume is positioning itself as a key player in the transition to a net-zero economy, helping to scale businesses that have the potential to make a significant impact on the environment.

The addition of Queensland Investment Corporation (QIC) as an LP further strengthens Blume Equity’s international presence and underscores the global relevance of its climate-tech investment strategy. QIC, one of Australia’s largest institutional investment managers, has a strong track record of supporting energy transition and broader climate solutions, making it a strategic partner for Blume.

Toby Suen, Partner at QIC Private Equity, highlighted the alignment between the two organizations. “Our partnership with Blume Equity further cements our commitment to investing in funds and companies that are at the forefront of developing and implementing energy transition and climate solutions more broadly,” Suen said. He noted that this partnership stems from the desire of QIC’s clients to drive meaningful change while capitalizing on what he called a “generational investment theme.”

Suen added that Blume Equity is particularly well-equipped to seize the opportunities arising from the transition to a net-zero economy. By partnering with companies that are innovating in the climate-tech sector, Blume is positioned to deliver both financial returns and measurable environmental impact. Blume Equity’s partnership with BPC and QIC marks an important step in its mission to drive the transition to a sustainable and inclusive global economy. With a focus on supporting female entrepreneurship and investing in companies that are tackling the climate crisis, Blume is well-positioned to lead in the growing climate-tech investment space.

The firm’s leadership team is committed to making a positive impact on both the environment and the venture capital industry. By focusing on businesses that address the pressing challenges of climate change, Blume is not only helping to scale impactful solutions but also setting an example for how venture capital can be leveraged to drive systemic change.

In conclusion, Blume Equity’s successful fundraising and strategic partnerships with British Patient Capital and Queensland Investment Corporation underscore the growing recognition of climate-tech as a critical investment category. As the world continues to grapple with the consequences of climate change, the need for innovative solutions is more urgent than ever. Blume Equity’s investments in growth-stage companies tackling these challenges place it at the forefront of the transition to a net-zero economy. Moreover, its commitment to gender equality and advancing female entrepreneurship makes it a trailblazer in an industry that is still working to close the gender gap. With the support of BPC and QIC, Blume Equity is poised to make a lasting impact on both the climate-tech sector and the venture capital landscape.