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Heir to $10 Billion JCB Fortune Forms Fund for Hydrogen Bets

  • Bamford family have invested in fund seeking 1 billion pounds
  • U.K. wants to push hydrogen production to fight climate change
Jo Bamford
Jo BamfordSource: HYCAP
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Jo Bamford, a member of the family behind one of the world’s largest construction-equipment makers, has co-founded an investment fund to focus on the hydrogen sector.

HYCAP has raised more than 200 million pounds ($277 million) to invest primarily in British businesses as it aims to boost the production and supply of hydrogen made from renewable energy, according to a statement Monday. Bamford set up the fund with multifamily office Vedra Partners, co-founded by Max Gottschalk. Managed in the U.K., the Luxembourg-based fund is looking to raise 1 billion pounds and has already identified more than three-dozen possible investments.