Climentum Capital raises €150m to invest in European early-stage tech startups attacking CO2 emissions
Climentum Capital announced it has raised €150 million for investments into European early-stage tech companies attacking CO2 emissions.
Climentum will invest in 25 startups across Europe at late-Seed to Series A with tickets ranging from €1 million - €5 million. Six most promising CO2 reducing verticals with the highest potential of upcoming category winners have been identified:
- NextGen Renewables
- Food & Agriculture
- Industry & Manufacturing
- Buildings & Architecture
- Transportation & Mobility
- Waste & Materials
There are already 46 Climate Tech Unicorns around the world who have collectively raised over $46B+ of total funding in the last decade and are now collectively valued at $130B+ With Climate tech being the fastest growing vertical in Europe, Climentum thinks there could be hundreds more and dozens of climate decacorns by the end of the decade. The European Climate ecosystem is in full blossom and Climentum intends to play a central role shaping it by collecting and sharing Europe's top investors and founders’ insights in their new podcast Climate Insiders.
Climentum Capital will be among the first article 9 funds in Europe, with a dedicated focus on CO2 emission reductions from day one. With a fully dedicated Impact Partner (Stefan Maard), Climentum is dedicating full-time resources to carbon accounting and impact advisory for portfolio companies right from the start.
The fund is backed by renowned corporate investors, banks, industrial conglomerates such as BASF Venture Capital, Arbejdernes Landsbank, Vaekstfonden prominent family offices and successful tech entrepreneurs - all sharing the ambition to combat climate change through investing in disruptive technologies. First closing has been secured successfully, final closing is expected for end 2022.
Yoann Berno, Venture Capital Fund Manager, Climentum Capital: “We are absolute technophiles. We will be looking for needle-moving technologies and solutions that often stretch a bit from your ordinary ‘safe-zone’ investment opportunities we might see the generalist funds go for. Deep tech is not something we shy away from – quite the contrary.”
Stefan Maard, Sustainability and Venturing Leader, Climentum Capital: “There is a concrete value-add to both founders and investors. Investors gain access to a cutting-edge Article 9 fund that delivers climate impacts and the associated data to help them achieve and report on their own climate and ESG targets. This is something that has resonated well with especially institutional and more forward-looking investors. Looking toward the founders, they are keen to work with truly mission-aligned investors that are also willing and able to help them mature on their own sustainability journeys - including documenting climate change impacts and leveraging that to access non-dilutive capital such as carbon credits, grants and ESG related project financing.”