ClearlySo, the impact investment bank, announced today that Octopus has taken a 12.3 per cent stake as part of a £1.25mn growth funding round.
Octopus, a fast-growing UK fund management company and the largest provider of venture capital trusts (VCTs) in the UK, will become the biggest single institutional investor in the firm. Chris Hulatt, Octopus co-founder, will join the ClearlySo board as a non-executive director.
More and more people care about the impact their investment is having.
The investment comes on the heels of a series of major milestones for ClearlySo, which started the year with its role in a £10mn equity raise for HCT Group, the social enterprise bus operator, and followed up by the crossing of the £100mn mark in total capital raised for nearly 100 clients.
ClearlySo said the Octopus investment was further evidence that “3D investing”, where social, ethical, and/or environmental impact is considered along with risk and return, is becoming mainstream.
Chris Hulatt, co-founder of Octopus, said: “More and more people care about the impact their investment is having. ClearlySo is at the heart of this change and the growing consciousness in the UK around impact investing.
“At Octopus, we look to invest in areas where we can really make a difference – whether it’s backing talented entrepreneurs who are changing the way we do things, investing in renewable energy technologies or helping to modernise our healthcare infrastructure. We look forward to working closely with the ClearlySo team to support our shared focus on encouraging more people to make a positive impact through their investing.”
Rodney Schwartz, founder and chief executive of ClearlySo, said: “To be chosen by one of Britain’s most astute investment firms is obviously a privilege and further validates our approach. We look forward to deepening our relationship and accelerating how we bring impact to the mainstream.”
The round also saw seven existing investors reinvest, including Big Society Capital, and eight new angel investors subscribe, mostly from ClearlySo’s extensive network of high-net-worth individual investors.