London-based venture capital firm AP Ventures has closed its third fund at $300 million, attracting commitments from existing and new institutional investors. The fund will back early-stage companies developing technologies to improve industrial efficiency, strengthen supply chains and support decarbonisation.
- Founded in 2013, AP Ventures invests globally in early-stage technologies across advanced materials, industrial processes and energy systems. The firm typically invests at seed and Series A stages, supporting companies through commercialisation, industrial deployment and scale-up.
- Since its initial close in 2024, AP Ventures Fund III has backed 13 companies developing technologies for industrial and energy systems.
- Fund III focuses on low-carbon molecules, including hydrogen, carbon capture and utilisation, circularity and advanced recycling. Its investments target energy-intensive sectors such as chemicals, steel, aviation and heavy mobility.
- The portfolio includes Aether Fuels, which converts industrial waste gases and biomass into liquid fuels; CREW Carbon, which develops mineral-based solutions for wastewater treatment and carbon removal; and Rubi Laboratories, which converts carbon dioxide into cellulose for textile fibres. Other portfolio companies include Teragen Energy, Lydian Labs, Reclinker and Rosy Soil.
- AP Ventures said its investment strategy responds to rising power demand, supply-chain constraints for critical minerals and materials, and the growing role of AI and automation in industrial operations.
- The fund is backed by a diverse group of institutional investors, including sovereign wealth funds, corporates, pension funds and family offices. The firm has not disclosed the individual investors or their respective commitments to Fund III.
