Triodos, the ethical bank, has launched a fund to invest in cleantech businesses in the UK. The fund, Triodos EIS Green Fund, will back companies that are eligible for the Enterprise Investment Scheme (EIS), which gives investors tax relief when investments are made in companies with less than 50 staff.
Fund manager Gareth Zahir-Bill said: "Despite the challenging economic climate, sectors such as renewable energy, energy efficiency and waste recycling are resilient in the current recession and are often underpinned by government support mechanisms."
The fund is closed to new investors and will announce its first deal in the next two months. Opportunities to invest in a new vehicle will be available in September when Triodos EIS Green Fund 2, is launched.
