Venterra Secures £40m Fundraising Amid Leadership Tensions
Venterra is set to announce a £40 million fundraising round as early as Monday, bringing its total equity raised to £250 million since the company's formation four years ago.
Among the backers are Beyond Net Zero, an affiliate of General Atlantic, and First Reserve. Lord Browne, the former BP chief, serves on Venterra's board as a non-executive director representing Beyond Net Zero.
The company was founded by Ayman Asfari, who stepped down as Petrofac CEO in 2023, but is currently facing tensions regarding his leadership role and the company's prospects for 2026.
The renewable energy sector remains challenged by a tough funding climate. While offshore wind continues to be a key area, growth is slower due to shifting investment priorities and political factors in the U.S.
