AP Ventures
Status
ACTIVE
Global HQ
London, United Kingdom
Countries of investment
- United States
- United Kingdom
- France
- Australia
- Norway
- Sweden
- Germany
- Denmark
- Switzerland
- Netherlands
- New Zealand
Investment stages
- Seed
- Series A
Industries
- Climate Tech
- Industrial Tech
- Carbon Capture
- Circular Economy
- Recycling
- Clean Energy
- Energy
- Green Materials
- Deep Tech
- Mobility
About
AP Ventures is a London-based specialist venture capital firm that began as Anglo American Platinum's platinum group metals investment programme and became independent in 2018 with $200M from Anglo American Platinum and South Africa's Public Investment Corporation. Best known for early hydrogen bets such as Plug Power, Amogy and ZeroAvia, it closed its $316M Fund II in 2021. On 28 October 2026 it announced the final close of AP Ventures Fund III at $300M, about 5% below Fund II, from sovereign wealth funds, corporates, pension funds and family offices. Fund III has already backed 13 companies since its 2024 initial close, including Aether Fuels, Rubi Laboratories, CREW Carbon and Reclinker, focusing on industrial productivity, supply security and resilient energy systems.
AP Ventures is a London-based specialist venture capital firm that began as Anglo American Platinum's platinum group metals investment programme and became independent in 2018 with $200M from Anglo American Platinum and South Africa's Public Investment Corporation. Best known for early hydrogen bets such as Plug Power, Amogy and ZeroAvia, it closed its $316M Fund II in 2021. On 28 October 2026 it announced the final close of AP Ventures Fund III at $300M, about 5% below Fund II, from sovereign wealth funds, corporates, pension funds and family offices. Fund III has already backed 13 companies since its 2024 initial close, including Aether Fuels, Rubi Laboratories, CREW Carbon and Reclinker, focusing on industrial productivity, supply security and resilient energy systems.
Investment Thesis
AP Ventures is an independent venture capital firm headquartered in London, with offices in Johannesburg and San Francisco, investing globally in early-stage technologies reshaping the industrial economy, including advanced materials, industrial processes, and energy systems. Since 2013, the AP Ventures team has invested in companies across the most complex industrial, materials, and energy segments, bringing experience and expertise from chemistry, materials science, engineering, and finance. AP Ventures initially invests at Seed and Series A stages and works closely with founders to help them navigate technical and commercial milestones and connect them with a global network of financial and industrial partners. The firm connects its Limited Partners and portfolio to a specialised network including the collective expertise of its team, investors, and its broader industrial community.
Manager's Experience
Andrew Hinkly has more than 30 years in automotive, mining and venture capital, including senior roles at Ford where he sat on the North American Executive Committee and a decade at Anglo American including the Anglo American Platinum Executive Committee; he sits on boards including Amogy, Hazer, Fabrum and Rosy Soil. Kevin Eggers, a Chartered Accountant by training, spent 10 years at Anglo American in senior commercial and corporate finance roles and led its new ventures work from 2014 before co-founding AP Ventures. Together they have run the PGM and hydrogen investment programme since 2013 to 2014 and spun it out in 2018.
Team
Andrew Hinkly - Founder and Managing Partner
Kevin Eggers - Founder and Partner
Alexis Garavel - Senior Investment Manager
Charlie Clark - Senior Investment Manager
Calum Ferguson - Investment Manager
Birgit Behrendt - Venture Partner
Charlotte Downie - Investment Analyst
Elisabeth Feldstein - Investment Associate
George Irven - Investment Associate
Khangzhen Leow - Investment Associate
Shimpei Yamashita - Investment Manager
Yonatan Sher - Head of Legal
Portfolio
Aether Fuels
Rubi Laboratories
CREW Carbon
Reclinker
Rosy Soil
Teragen Energy
Lydian Labs
Amogy
ZeroAvia
Plug Power
Infinium
Hystar
Attributes SAS
Mitico
Ravel Futures
Supersede
Snowfox