British media group Sky will anchor a new £100 million investment fund set up by Founders Factory to support start-ups focused on climate technologies.

Chaired by Sir Ian Cheshire, former head of Kingfisher and Chair of Barclays UK, the Planet Fund will back early-stage climate start-ups and will be underpinned by Sky Ocean Ventures with an existing portfolio of 25 start-ups.

They will focus on decarbonisation, resource prevention and the circular economy.

Henry Lane Fox, CEO of the Founders Factory said: We’ve seen a huge migration of tech talent wanting to work on climate change.

“There’s a gap to provide high-conviction capital & hands-on support to the next generation of ambitious planet-focused companies.”

Sir Ian will be joined by climate scientists Professor Richard Templer and Professor Cameron Hepburn.