AP Ventures
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AP Ventures is the real deal in hydrogen VC — they've been in this space since 2013, way before hydrogen became trendy. AP Ventures was founded in July 2018 as an independent venture capital fund spun out of Anglo American Platinum's successful PGM Investment Programme. It launched with US $200 million in commitments, US $100 million each from cornerstone backers Anglo American Platinum and South Africa's Public Investment Corporation. Their deep technical expertise in electrochemistry and platinum group metals gives them a genuine edge in evaluating hydrogen tech that most generalist VCs lack. The partnership between Andrew Hinkly and Kevin Eggers brings serious industrial credibility — both come from Anglo American and understand how to scale hard tech in heavy industry. At our annual meeting earlier this month, we asked some of our portfolio companies to describe what working with AP Ventures has been like over the years. The fact they actively showcase founder testimonials suggests they're confident about their portfolio relationships. They're not just writing checks — they're leveraging their industrial network to help companies navigate the complex world of industrial customers and partnerships.
- —Best for: Deep-tech hydrogen startups needing industrial connections
- —Known for: Technical expertise in electrochemistry and PGMs
- —Watch out for: Highly specialized focus may limit broader cleantech opportunities
AP Ventures is a specialist venture capital firm headquartered in London, investing globally in the technologies reshaping the industrial economy. We focus on technically differentiated solutions which improve operational performance, enhance resilience, security and flexibility, and support the transition to lower-carbon systems. AP Ventures invests in technologies which advance the decarbonisation of industry and transportation with a focus on the hydrogen and carbon value chains.
Focused on early-stage (Series A/Seed) companies in the hydrogen value chain and carbon capture technologies. Portfolio spans hydrogen production, storage, transportation, and end-use applications, with heavy focus on industrial decarbonization for steel, aviation, chemicals, and heavy transport.
Andrew Hinkly is the Founding Managing Partner of AP Ventures which had a first close of US$200 million in July 2018. He has enjoyed a high profile career spanning more than 25 years working in the automotive and mining industries. Former senior executive at Anglo American with deep industrial experience.
Kevin is a Founding Partner of AP Ventures, which spun out of Anglo American and had a first close of US$200m in July 2018. Kevin has a broad range of international experience spanning over 16 years, having worked extensively across Europe, South Africa and the United States. Prior to launching this fund, he was with Anglo American plc for ten years in various senior Commercial and Corporate Finance positions. In his most recent role, Kevin had operational responsibility for Anglo American's Corporate Venture Capital Fund, the predecessor fund to AP Ventures Fund I. Board member of United Hydrogen.
Birgit Behrendt is a Venture Partner at AP Ventures and a senior advisor and Board member to Hydrogenious LOHC Technologies and Infinium Holdings, Inc. She is an experienced global automotive leader with an extensive career in supply chain management and procurement. A former Company Officer of Ford Motor Company Birgit has lived and worked in Europe and the US. Furthermore, Birgit is an independent Supervisory Board member of KION Group AG, thyssenkrupp AG and Umicore SA.
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