When Venture Capital Grows Up Why UK venture capital is abandoning pitch theatre and backing ventures that perform

Cyrus Vantoch-Wood, founder of UK-based venture studio and investment fund Insurgent, believes the UK venture market is in the middle of a reset - one defined less by noise and more by evidence. "In the past year, investor appetite has shifted from swagger to substance. The charm offensive of glossy decks is wearing thin. Capital now hunts proof: audited carbon drawdown, circular models in motion, buyers already queuing."

That shift is changing not just what gets funded, but how credibility is established. Concepts and narratives are giving way to ventures that already operate in the real world. "Take Waru. They're not sketching carbon-negative homes, they're building them. Modular structures that power themselves, scrub the air, and fit directly into institutional portfolios. Notpla's seaweed-based packaging isn't a concept; it's already replacing plastic trays and cosmetic wraps at scale."

The broader market correction has sharpened this distinction rather than erased it."Valuations in frothy climate tech have cooled off, with 20 to 40 percent drops in places. But for ventures with backbone, real traction, operational fluency, and cultural sharpness, the money is still moving." Operational credibility has become a form of protection."Studios with operator DNA are now seen as financial Kevlar. As one GP said, half-smirking, no more poets, we're backing builders."

At the same time, the language of impact itself is changing. Vantoch-Wood argues that one of the sector's most commonly used words has lost its force."Sustainability has become the soggy middle of the menu. Everyone claims it, few can prove it, and nobody's inspired."

What's replacing it is something more demanding - and more tangible."The future belongs to ventures that regenerate, recalibrate, or restore, and they do it with style."

That regenerative ambition is showing up across sectors, from hospitality to fashion."Habitas doesn't just offer boutique getaways. It sells off-grid sanctuaries that trade in silence, local soil recovery, and slow rituals. Five-star rates, grounded in something real. In fashion, Another Tomorrow spins regenerative cotton into collections with digital provenance, no moral posturing, just garments that speak in systems you can verify."

Time and systems thinking are becoming central assets rather than abstract concerns."Then there's time. Cervest gives brands what they didn't know they were missing: climate foresight they can act on, not just admire in a chart. Regen Network is making degraded land valuable again, layering crop yield, carbon credits, and biodiversity payouts into one intelligent stack."

Across all of this, the ventures gaining momentum share a common trait: they don't rely on persuasion. "The ventures cutting through don't pitch change; they perform it. With restraint, clarity, and just enough heat to burn away the fluff." They don't need to announce themselves."They don't need to shout. You can feel it." What's emerging doesn't yet have a formal name - but its presence is unmistakable.

"Something else is emerging here. It doesn't have a name yet. But you'll know it when you see it."