Zero Carbon Capital is a UK-based deep-tech climate venture capital firm founded by Pippa and Alex Gawley in 2019. It invests at the pre-seed and seed stages in European startups building hard-science solutions to decarbonization challenges, targeting companies with potential to reduce or remove 0.5 gigatons of greenhouse gas emissions annually.
57% of their portfolio is in Climate & Energy. Deal activity decreased year-over-year (2 deals in the last 12 months vs 4 prior). Their most common stage is seed (57% of deals). Average disclosed round size is $17.2M (across 8 rounds with reported amounts).
Portfolio
18
Fund Size
$37M
Top Stage
Seed
Last 12 Mo
2
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
21 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Exergy3 | Seed | — | Apr 2026 |
 Nutropy | Seed | — | Nov 2025 |
| NNZN | Seed | $6.6M | Jul 2025 |
 Vema Hydrogen | Seed | $13M | Feb 2025 |
 Spark e-Fuels | Pre-Seed | — | Feb 2025 |
 IONATE | Series A | — | Feb 2025 |
 IONATE | Series A | $17M | Jan 2025 |
 VFlowTech | Series A | $3M | Feb 2023 |
 Repair | Series A | $15M | — |
 Level Nine | Seed | — | — |
 Caudal Energy | Seed | — | — |
 NitroFix | Seed | $3.1M | — |
 Nuclear Turbines | Unknown | — | — |
 x-cardiac | Seed | — | — |
 Cambridge Electric Cement | Seed | — | — |
| SSolidia | Unknown | $78M | — |
 Porpoise Power | Unknown | — | — |
| Nutropy | Growth | — | — |
| IONATE | Seed | — | — |
| IONATE | Seed | — | — |
| MMultus | Seed | $2.1M | — |
Top Co-Investors
IQ Capital5 shared
Cycle Capital4 shared
IBB Ventures3 shared
Antares Ventures3 shared
In-Q-Tel3 shared
Old College Capital3 shared
Empirical Ventures3 shared
JGC MIRAI Innovation Fund2 shared
AlbionVC2 shared
Global Brain Corporation2 shared
Extantia2 shared
Entrepreneurs First2 shared
Rockstart2 shared
Visionaries Tomorrow2 shared
Better Capital2 shared
Kibo Invest2 shared
Creator Fund2 shared
Oxford Science Enterprises2 shared
SOSV2 shared
Last updated: 7 October 2026