360 Capital closes new climate tech fund at €140M

VC firm 360 Capital has closed its new climate tech fund, 360 LIFE II for the first time at €140M.

CDP Venture Capital committed €44M as an anchor investor for the new fund, alongside De Nora as anchor investor and industrial partner with a commitment of €10 million and Bpifrance as institutional partner.

At the helm of 360 LIFE II will be partners Cesare Maifredi, Alexandre Mordacq, Alessandro Zaccaria and Thomas Nivard A2A, as anchor investor and industrial partner. Their investment strategy is to advance new technologies in the circular economy and energy transition. 

360 LIFE II aims to invest in pan-european Series A and B startups focused on three areas: energy transition (e.g. renewable energy, energy storage, hydrogen), circular economy (e.g. waste reduction, blue economy, natural resource protection) and urban sustainability (e.g. pollution reduction, net-zero solutions, smart infrastructure).

Cesare Maifredi, Partner at 360 Capital, commented: "Multidisciplinary deeptech startups offer the best chance to deliver truly transformative solutions to climate change. At 360, we’ve spent over a decade making bold investments in frontier technologies, never shying away from hardware or complex engineering challenges. We’re proud to back visionary founders leading the ecological transition through breakthrough innovations. Investing in these sectors requires solid expertise, which is why we collaborate with industrial partners like A2A and now De Nora. This new fund represents another opportunity to pair our pursuit of strong financial returns with a tangible commitment to building a sustainable and resilient future."

“With this initiative, A2A establishes itself as a leader in Italy in Corporate Venture Capital dedicated to climate tech. Our CVC program oversees approximately €80 million and six funds that have collectively invested in over 60 Italian and European startups,” added Renato Riservato, CEO of A2A.

“Innovation is essential for business growth, as highlighted in the recent report on the future of European competitiveness presented by Mario Draghi to the European Commission. For our Group, it serves as a strategic pillar across all our business areas, alongside decarbonization and energy autonomy. Our Industrial Plan extends to 2035, and to execute it effectively, we must continuously monitor and invest in emerging technologies. This new fund will provide further momentum for startups to develop projects that can make a tangible contribution to the ecological transition of the country—an effort that A2A is fully committed to supporting.”

360 Capital focuses mainly on the deeptech and climate tech domains. With a portfolio that includes high-growth companies like Exotec (France’s first industrial unicorn), Preligens (acquired by Safran), and Alsid (acquired by Tenable), the firm has completed 28 exits since 2018.