New $6.1M sustainability investment fund launched
Ground Control, a UK-based supplier of landscaping and maintenance services, has launched a new $6.1 million (£5 million) investment fund dedicated to sustainability and environmental initiatives. Financed by five percent of Ground Control’s annual profits, the Evergreen Fund will specialize in providing seed and growth capital to early stage companies and social enterprises that are focused on delivering measurable, beneficial and sustainable environmental impact.
Over the next five years, the fund will: invest £5 million in early stage environmental ventures, become a perpetual investment facility with profits reinvested into new sustainable ventures, and dedicate £100,000 annually to finance the planning of one million new native trees to create protected areas of biodiversity.
The Evergreen Fund will invest in entrepreneurs who have a clear vision of how to effect positive environmental change, combined with the experience, hard work and commitment to deliver. Applicants must be able to clearly display their positive, measurable and sustainable contribution; have a proven / sustainable business and revenue model; and demonstrate a competitive marketplace advantage and an opportunity / vision to scale. The fund will directly invest in Seed, Series A and higher but will avoid pre-seed or investments in fee-bearing funds. Investments will range in size from £10,000 to £500,000.
“As a company, we’ve always felt strongly about the environment so the launch of the Evergreen Fund is a milestone moment for Ground Control,” said Ground Control co-founder Kim Morrish.
“Launching the fund is a natural extension of our belief that business can and should be a force for good when it comes to environmental responsibility, especially during such a critical period for conservation and climate change.”
“What binds everyone involved in the Green Fund – our founders, co-investors and investees – is our belief in business as a force for good and our collective ability to affect positive change together.”
“From the very start, a passion for nature and commitment to sustainability has been central to what Ground Control does every day,” added Ground Control co-founder Simon Morrish.
“Whether it’s moving to a fully electric fleet of vehicles or leading major tree planting schemes, we are dedicated to finding new and innovative ways to protect our environment. With the financial investment from Ground Control, we are now in a position to catalyse and amplify sustainability and carbon sequestration initiatives.”
Originally founded in 1973, in 2004 four directors re-mortgaged their homes to invest with Simon and Kim Morrish to purchase Ground Control from the founder. From this point on, the managers decided to diversify the services we offered, and also the sectors that we worked for. Today, Ground Control is one of the UK’s largest suppliers of award-winning maintenance services. The company provides services to over 50,000 private and public sector sites, with a client list that includes three of the country’s four biggest supermarkets, and directly employs 1,000 people and supplies work to over 5,000 contractors.