Fundraising Fox
Conduit Ventures
Venture capitalLondon · Series A–Growth · 6 people tracked
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Investment thesis
Conduit Ventures backs growth-stage entrepreneurs working on resource and energy challenges, favouring solutions that integrate into the existing energy landscape rather than seeking a single breakthrough. Its focus spans energy and critical mineral optimisation, energy storage, hydrogen, solar, biofuels, water exploration and demand/supply optimisation, and agricultural technology and self-sufficiency. The firm emphasises deep partnership with founders and capital providers, remaining actively involved with its portfolio, and seeks synergy by backing complementary projects that form a self-serving ecosystem. Drawing on decades of experience raising capital and securing exits, it operates a global network across North America, Europe, the Middle East, Asia and Africa.
Source: firm website, verified Oct 25, 2026.
Team · 6 people
from the firm's website & public directories
John Butt is Chief Executive and General Partner of Conduit Ventures Ltd, a UK-regulated investment firm that manages capital for blue-chip institutional investors and focuses on hydrogen, low carbon energy, intelligent mobility, and water security across Europe, Asia, Africa, and the Gulf region. He founded Conduit in the early 2000s and serves on the boards of several public and private companies in these sectors. Previously, Butt held senior corporate finance roles at Citigroup Global Markets and the PwC International Privatisation Group, and began his career as an analyst at the Bank of England; he holds degrees in biochemistry from the University of St. Andrews and an MBA from the University of North Carolina at Chapel Hill.
Keith Lidgate is a Director at Lidgate Business Support with experience serving owner-managed businesses, particularly in the service sector. He provides part-time and interim director-level accounting and financial services to organizations of various types, with expertise in business planning, company preparation for sale, management information systems implementation, and financial staff development.
Andy Wei is the founder and managing partner of Furnace Capital, which provides cross-border M&A advisory services. His background spans mergers and acquisitions banking alongside interests in Chinese philosophy, martial arts, psychology, and traditional Chinese medicine.
What they invest in
from 3 of 17 portfolio companiesEnergy ×2AI & Machine Learning ×1Cleantech ×1Deep Tech ×1Defense Tech ×1Enterprise Software ×1Hardware ×1Healthtech ×1
HQs:China×1Germany×1
Investments · 17 tracked
founders shown can be your intro pathGSR Ventures is a global early-stage venture capital firm that invests in technology companies building AI-enabled enterprise software, consumer platforms, and healthcare technology.
AI & Machine LearningEnterprise SoftwareHealthtechBeijing, CN
Co-investorsGSR VenturesNewView Capital
SFC Energy AG manufactures fuel cells, power supplies, and power management systems for clean energy, defense, and industrial applications.
CleantechDeep TechDefense TechEnergyHardwareBrunnthal, DE
PartnerJohn Butt· solo GP
Co-investorsHPE Growth
TOUGAS International designs and manufactures specialty chemicals for the energy industry, including well stimulation, production enhancement, and cementing additives for oil, gas, and geothermal sectors.
Energy
PartnerJohn Butt· solo GP
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
AmminexBallard PowerCellex Power SystemsCentecCMR Fuel CellsCPTHeliocentris AGHydrexiaNano Fusion TechnologiesP21 GmbHPemeasPolyfuelProtonexVairex Air Systems
Principals & officers · per Companies House
what is this? ⓘDirector · British · since 2001
John Ndoke Butt — 75–100% of shares, 75–100% of voting rights, right to appoint and remove directors as firm
Frequently asked questions
- How many investments has Conduit Ventures made?
- Conduit Ventures has 17 tracked investments.
- What stage does Conduit Ventures invest at?
- Conduit Ventures invests at the Series A, Series B, Series C, Growth stages.
- What is Conduit Ventures's typical check size?
- Conduit Ventures typically writes checks of $1M.
- What sectors does Conduit Ventures focus on?
- Conduit Ventures focuses on AgTech, Cleantech, Climate Tech, Energy, FoodTech, Impact & Social Good, New Materials.
- Where is Conduit Ventures located?
- Conduit Ventures is headquartered in London, GB.
- Who does Conduit Ventures co-invest with?
- Conduit Ventures most often shares deals with GSR Ventures, HPE Growth, NewView Capital, among 3 tracked co-investors.
Images
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