Venterra Group, a major player in the offshore wind energy sector, is poised to announce a significant new capital raise of £40 million as early as Monday, Sky News has reported. This latest financial boost comes at a pivotal time for the company, which is navigating a complex investment landscape and reported internal disagreements over its strategic direction.
Funding Details and Key Backers
The fresh injection of funds will be provided by Venterra's existing shareholders. These include Beyond Net Zero, a climate-focused fund linked to the private equity giant General Atlantic, and another established private equity investor, First Reserve. This move brings the total equity raised by Venterra since its inception four years ago to an impressive £290 million.
The company boasts a board with considerable industry weight, notably featuring Lord Browne, the former chief executive of BP. Lord Browne serves as a non-executive director, representing the interests of the Beyond Net Zero investment.
Founder's Legacy and Current Challenges
Venterra was established by Ayman Asfari, the former long-serving chief executive of the oilfield services company Petrofac. Asfari, a prominent figure in the UK's energy services industry for decades, stepped down from his role at Petrofac in 2023, prior to that company's collapse in the autumn of 2025.
However, sources indicate that the latest fundraising round is occurring against a backdrop of growing tensions in recent months concerning Asfari's ongoing role within Venterra and the company's prospects for the coming year, specifically 2026. The broader context for the sector is also challenging, with shifting global investment priorities—partly influenced by the policy environment during Donald Trump's second term as US President—leading to slower growth than previously anticipated for renewable energy firms like Venterra.
Sector Context and Future Outlook
Despite these headwinds, offshore wind power remains a cornerstone of the global transition towards cleaner energy sources. Venterra's ability to secure substantial funding underscores continued investor belief in the long-term potential of the sector, even as it faces short-term volatility and political uncertainty.
The company has not publicly commented on the fundraising or the reported leadership discussions, having declined to respond to emailed enquiries from Sky News. This development highlights the delicate balance renewable energy companies must strike between securing essential capital and managing internal strategic alignment in a rapidly evolving market.
