A demand-led natural capital strategy, targeting a 10% net IRR.
We finance the restoration of natural infrastructure across the British Isles and surrounding coastal waters, with up to 20% of the portfolio permitted in Europe. Capital is deployed only where demand for ecosystem services is identified, engaged and backed by a credible pathway to revenue.
The thesis
Three forces converge into a single asset class.
Hover or click each ring to read its logic. The intersection is where capital meets the real economy.
Nature as an Asset Class.
Where Scarcity, Utility, and Cash Flows converge, nature transforms into a robust, institutional-grade vehicle for capital preservation and real-world impact.
Why now
Capital allocation is catching up to physical risk.
The World Economic Forum has estimated that companies failing to adapt to climate risks could face material earnings pressure by 2035. That shifts adaptation from a sustainability concern to a financial planning issue.
Insurers are repricing. Water utilities are facing AMP-cycle obligations they cannot meet with concrete alone. Regulators are asking for evidence of resilience. The demand signal for Nature-based infrastructure is no longer theoretical.
Framework
The 4 Returns Framework
We evaluate every nature-based project through a holistic lens, ensuring our interventions convert degraded landscapes into productive assets that deliver at scale.
01
Financial Return
Delivering durable, long-term, and uncorrelated yields through Resilience Purchase Agreements (RPAs). Must demonstrate a credible money multiple, IRR, and downside investor benchmarks.
02
Natural Return
Transitioning degraded catchments back into thriving, resilient ecosystems. Must show measurable gains in flood resilience, water quality, biodiversity or carbon sequestration.
03
Social Return
Must create inclusive, local employment, build community capacity, economic stability, and improved public health through equitable access to nature.
04
Inspirational Return
Must prove replicability, show potential to influence policy, and advance the case for nature as infrastructure.
Profile
Patient capital. Real assets. Contracted revenues.
- Target return
- 10% net IRR
- Geography
- British Isles and coastal waters (up to 20% Europe)
- Revenue
- Ecosystem service agreements (incl. RPAs) and environmental credits (BNG, carbon, peatland)
- Portfolio
- ~80% Landscape Recovery Scheme projects and catchments; ~20% other demand-backed restoration
- Structure
- Direct equity and debt into project-level SPVs and project developers
The next question for investors is not whether Nature has value. It is how that value is measured, contracted and converted into investable cashflows.