Former Tory minister Chris Skidmore is making waves in the investment world with the announcement of his new venture, Desmos Capital Partners. This boutique bank is set to support scale-up firms that are focused on impact, future technologies, and achieving net zero emissions. In a speech at the Alternative Investment Management Association, Skidmore shared his vision for the firm, highlighting the importance of investing in companies that are transforming the world.
Skidmore, who resigned from the Tories and Parliament earlier this year in protest of new oil and gas licences, emphasized that Desmos will prioritize companies seeking to scale and raise capital from £5 million upwards. He also mentioned that the bank will explore creative funding structures and alternative sources of capital, such as private family funds and investors, rather than solely relying on venture capital funds.
Having led an independent review of the UK’s net-zero policies under former Prime Minister Liz Truss, Skidmore understands the challenges that companies face in accessing private capital to innovate and scale up solutions for decarbonization. He stressed the urgency of providing support to companies that are working towards tackling the climate crisis and meeting the demands of a rapidly changing world.
Desmos Capital Partners will have a global presence, with offices in London, Paris, and future expansions planned for Dubai and Toronto. Skidmore’s decision to establish this investment bank reflects his personal commitment to implementing net zero on the ground, following his involvement in signing the UK’s net-zero commitment into law five years ago.
Skidmore’s transition to supporting Labour during the election campaign underscores his belief in the new government’s actions towards achieving net zero, such as removing planning restrictions for onshore wind and establishing a mission control for a 2030 net-zero power grid. However, he also called on ministers to provide investors with a clear investment roadmap that outlines projects, timelines, and the balance of public and private investment needed to unlock them.
Desmos Capital Partners will be staffed by experienced banking experts who share Skidmore’s vision of bringing new perspectives to traditional forms of investing. The firm aims to bridge the gap between companies seeking investment for innovative technologies and private investors willing to finance the technologies of tomorrow.
In addition to his work with Desmos, Skidmore has founded a company called Better Earth, which advises governments on reducing emissions, with former Prime Minister Boris Johnson as a co-chair. His dedication to advancing sustainability and supporting impactful businesses underscores his commitment to driving positive change in the world of finance and environmental stewardship.
