Giving fillip to climate tech startups, Lithuania’s Contrarian Ventures launches €100 million fund

With the world's carbon budget running out fast, Europe’s climate tech VCs are seeking innovative startup to reshape how our economy functions in the next 100 years. And yet, current climate capital is disproportionately skewed towards mature companies focused on solving problems for the next decade. So much so, that the number of early-stage investments in climate tech has remained largely stagnant since 2018. 

Entering the ranks, Lithuania-based climate tech VC Contrarian Ventures has unveiled its second fund targeting €100 million to close the funding gap for future climate-tech founders and mobilise the resources needed for climate action.

The fund will focus specifically on seed stage investments and is dedicated to backing pioneers building technologies that will support the infrastructure of tomorrow. The VC is also expanding across Europe with new bases in London and Berlin and adding to its LP base, which includes Molten Ventures and the Grantham Foundation. 

Founded in 2017 by ex-investment bankers Rokas Peciulaitis and Tomas Kemtys, the VC utilises a collaborative, hands-on, founders-first approach to support future climate-tech founders.

Contrarian Ventures co-founder Rokas Peciulatis said: “We must focus on the world in 2050, not just in 2030. Climate tech is going to be one of the most lucrative and important investment opportunities for the next 30 years but entrepreneurs in Europe are still heavily underfunded and underrepresented at the Seed stage. Our fund aim of closing this gap for future climate-tech founders and mobilising the resources needed for climate action, while continuing to build a firm that becomes the top choice for climate tech entrepreneurs.”

Mohadeseh Abdullahi, investor at Molten Ventures said: “With a direct focus on the climate sector at the seed stage, coupled with its impressive team in an exciting territory, Contrarian enjoys a unique perspective on the market and its opportunities. It has built a strong reputation in this space and has developed a brilliant and deep-knitted network of technical experts and advisors.”