Vienna’s Speedinvest isn’t messing around when it comes to saving the planet. Specifically targeted at providing long-term support for existing sustainability-focused portfolio investments, the VC firm announces today a new €80 million fund. Leaving no i’s undotted, nor t’s uncrossed, Speedinvest reports that the fund will also be used to support, ”selected non-portfolio startups that are accelerating European industry’s efforts to digitise and decarbonise.”
More specifically, the €80 million will be channeled towards follow on investments in portfolio companies including TWAICE, Planetly, Sylvera, Greyparrot, and One.Five through co-investments exercising their existing pro-rata rights.
A prime example, and already executed, Speedinvest partook in Warsaw-based bespoke packaging platform Packhelp’s €40 million Series B round in mid-November, and the €171.4 million Series D round TIER concluded back in October.
The Wieners have scheduled a final close for Q2 2022, with cornerstone investors including one of the world’s largest VC funds, Menlo Park’s New Enterprise Associates (NEA), one of the world’s largest venture capital funds. Notable non-institutional investments from the industrial sector, include the technology company KNAPP, plastics and foam supplier Greiner AG and pulp and paper producer Heinzel Group.
“According to our data, Europe’s industrial tech ecosystem has experienced 81% annualised growth since 2014, more than doubling over the past year to a value of €74 billion overall,” commented Speedinvest’s Marie-Helene Ametsreiter. “It’s unsurprisingly one of the fastest-growing categories in European venture capital and we’re proud to back a number of outstanding businesses in the sector. Industrial and climate tech will provide key growth opportunities in the coming years, while also generating huge benefits for the planet.”
On the investment, NEA’s Scott Sandell commented, “Speedinvest is partnering with some of the continent’s most innovative companies working to solve the global climate crisis, and the NEA team is pleased to deepen our commitment to this crucial effort with our participation in Speedinvest’s new fund. We are very excited about the growing entrepreneurial opportunity in Europe, particularly for startups focused on reducing emissions and revolutionising industrial processes.”