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.
In the last few weeks, several impact funds have been unveiled to give a boost to Europe’s transition towards a net-zero economy. Lithuania-based climate tech VC Contrarian Ventures unveiled its second fund targeting €100 million, London-based Ocean 14 Capital focusing exclusively on ‘blue economy’ raised €10 million in funding and Energy Impact Partners rolled out first global expansion move with the launch of €390 million European Fund.
Entering the ranks, European VC firm JUNCTION has unveiled €100 million fund to support companies set to play a major role in the next stage of Europe’s energy market. The fund has already drawn in €75 million at its first close.
The fund’s primary focus will be scaling and industrialising companies with investment ticket sizes ranging between €5 million and €15 million. The fund’s extensive European-wide network will be leveraged to support the scaling and growth of all portfolio companies.
Founded in 2022, the minds behind the venture include REstore co-founder Pieter-Jan Mermans, former Inven partner Vincent Gregoir, the founder of green energy supplier Lampiris Bruno Vanderschueren and Dirk Dewals, who previously served on the executive committee of private equity firm GIMV.
Vincent Gregoir, founding partner of JUNCTION said: “The transition towards net-zero should not be a problem as it can be achieved with technologies that already exist today. Unfortunately, most German or European venture firms prefer to invest in early-stage start-ups in order to have a quick turnaround. However, if we want to succeed with the energy and climate transition, we need more funding into scale-ups and SMEs.”