We are pleased to have advised Innovation Investment Capital (IIC), the Cardiff Capital Region-backed fund, on its investment into Sero, a Cardiff based energy innovation company.
Sero helps social housing landlords and partners deliver energy-efficient, net-zero homes at scale to lower bills, improve energy performance and cut carbon emissions. The company currently works with local councils and social housing providers to provide energy services and retrofit in up to 2,500 homes, with a further contracted pipeline of up to 10,000 homes, and work with partners across the UK with a particular focus on South Wales, South West and Southern England, and London.
This investment, which is part of Sero’s latest funding round, underlines IIC’s commitment to backing scalable, mission-driven enterprises that are pioneering innovative solutions with measurable environmental and social impact across the region.
Gerallt Jones, Partner and Head of Corporate/Commercial, led the team advising IIC, supported by Gemma Davies and Matt Detheridge (corporate) and Yuliia Kucherenko (banking).
Speaking on the investment, Gerallt said:
“The IIC investment in Sero highlights the strong investor confidence in innovative businesses that are delivering scalable, sustainable solutions in the Cardiff Capital Region. IIC has become a key player in the investment landscape and we are delighted to have worked with the team on another significant investment in a business contributing to the economic growth of the region.”
IIC was launched in November 2022 with an initial £50 million from UK Government funds and Cardiff Capital Region (CCR) to provide long-term capital for innovative and sustainable growth opportunities across CCR’s ten unitary authorities. Capricorn Fund Managers (CFM) serves as the Alternative Investment Fund Manager (AIFM), overseeing portfolio and risk management, with PwC advising on investment research and sourcing, on behalf of CFM.
Lynda Stoelker, Capricorn Fund Managers’ COO and Chair of the IIC Investment Committee, said:
“We greatly valued Hugh James’ support on the Sero investment. Their team delivered pragmatic, commercially focused advice and helped ensure the transaction progressed smoothly and efficiently.”
We are proud to continue to support IIC as it delivers on its mission to foster sustainable economic growth and technological innovation throughout the Cardiff Capital Region.
