The UK publisher's new energy fund will invest in early and growth stage clean energy startups.
London-headquartered multinational media company Daily Mail and General Trust has partnered with US-based investment firm Moore Capital Management to launch an energy transition fund.
Moore Capital Management will provide $200m to the new fund, called Renown Capital Partners. Daily Mail General Trust will also invest an undisclosed sum in the joint venture.
The fund will invest in early and growth-stage startups that are transforming the energy transition. Initial investments will start in the first quarter of 2024. Renown Capital will also have access to Daily Mail General Trust’s B2B business events.
Daily Mail General Trust’s CVC, DMG Ventures, was founded in 2015 and invests in e-commerce, prop-tech, and media sectors. The firm has 20 companies in its portfolio and has invested in 45 startups, including Bloobloom, Fention and Urban Legend.
