Venterra Secures £40m Funding Amid Leadership Tensions and Challenging Renewables Climate
Venterra is expected to announce a £40 million capital injection as early as Monday, marking the latest addition to its series of fundraising efforts. The funding round includes backers such as Beyond Net Zero—a fund affiliated with General Atlantic—and First Reserve, with participation from existing shareholders.
Founded four years ago by Ayman Asfari, the former Petrofac chief executive, Venterra has raised approximately £250 million in equity since its inception. Lord Browne, former BP chief executive, serves on Venterra's board as a non-executive director representing Beyond Net Zero.
Despite the fundraising success, tensions are growing over Asfari's role and the company's prospects for 2026. The renewables sector is facing a challenging environment, with growth in offshore wind investment slowing due to shifting priorities and broader geopolitical factors, including political developments in the United States. Petrofac faced collapse in the autumn, leading to Asfari stepping down as its chief in 2023.
