Lansdown co-founded Earth Capital with private equity veteran Gordon Power in 2008 to invest across UK and Europe in clean technology solutions.
Earth Capital Limited, an early-stage growth investment manager co-founded by Hargreaves Lansdown’s Stephen Lansdown, is closing down, according to emails seen by Investment Week.
The firm applied to cancel its authorisation on 1 August, according to the Financial Conduct Authority's register. It was originally granted authorisation in August 2019.
Investment Week has contacted Earth Capital for comment.
Lansdown co-founded Earth Capital with private equity veteran Gordon Power in 2008 to invest across UK and Europe in clean technology solutions.
According to Companies House, Lansdown and his wife Margaret Lansdown stepped down from the firm as a person with significant control on 21 May this year.
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In its financial statements for the year ended 31 December 2023 posted on Companies House, Earth Capital Limited reported a loss of £559,747, down from £12.5m the previous year.
At the end of last year, the firm held net assets of £90,567, compared to £284,466 in 2022. This included a £649,500 share premium account and £814 in called up share capital.
The firm held £75,568 cash at bank or in hand at the end of 2023, a significant decline from the £426,237 reported a year prior.
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Earth Capital UK, a subsidiary of Earth Capital limited originally regulated to raise and manage funds such as Enterprise Investment Schemes, was deregulated by the FCA on 6 January 2023.
It subsequently changed its name to CTGI in March 2023 and resolved to be wound up in June 2023, according to Companies House. Investment Week understands the liquidation process of CTGI is set to conclude later this year.
Hargreaves Lansdown, which was co-founded by Lansdown and Peter Hargreaves in 1981, recently agreed to a £5.4bn takeover by a private equity consortium.
