ETCapital

The firm sources predominantly from the Cambridge, Oxford and London university and research ecosystems. Non-executive Director David Gill has been managing director of St John's Innovation Centre in Cambridge since 2008, giving the firm a physical and relational anchor inside one of the cluster's primary incubators. The Carbon13 venture builder partnership adds a structured deal-creation pipeline for climate-tech spinouts.

ET Capital operates a family of discrete, strategy-specific funds rather than a single pooled vehicle. These include Cambridge Research & Innovation Limited (early-stage, managed since 2004), UK China Enterprise (China scale-ups, launched 2018), Carbon Order (direct air capture, managed since 2018), and Carbon13 SEIS Fund I & II (climate venture builder). Each fund carries its own mandate and LP base.

The firm targets early-stage and growth-stage technology companies, with a concentration on science-based businesses spinning out of research institutions. Its managed fund Cambridge Research & Innovation Limited is explicitly an early-stage vehicle, while the Carbon Engineering investment represents an ability to hold positions through to a late-stage $1.1B industrial acquisition.

Carbon13 is a Cambridge-based venture builder focused on climate-emergency businesses; ET Capital manages Carbon13 SEIS Fund I & II as tied funds investing in Carbon13's created companies. UK China Enterprise is an early-stage venture fund launched in 2018 in partnership with UK China Enterprise LLP, targeting science-based businesses with China scale-up potential, with ET Capital acting as manager.