TLDR:
- Clean Energy Ventures has closed its second flagship fund with commitments of $305m, targeting technologies aimed at reducing carbon emissions.
- The fund has already invested in six new companies, including producers of green ammonia and sustainable aviation fuels.
Clean Energy Ventures (CEV) has successfully closed its second flagship fund with commitments of $305 million, surpassing its initial target of $200 million. The fund drew heightened investor interest in technologies aimed at reducing carbon emissions. The new fund has support from limited partners such as Carbon Equity, the Grantham Foundation for the Protection of the Environment, Builders Vision, and New Summit Investments.
The rollout of Fund II comes five years after the launch of CEV’s $110 million Fund I in 2019, which backed 20 companies in the climate tech sector. The new fund has already made investments in six companies, including Israel-based Nitrofix and UK-based OXCCU, both producers of green ammonia and sustainable aviation fuels, respectively. Other beneficiaries include Noon Energy for long-duration energy storage, Evari for compressor technology, and two companies operating in stealth mode.
CEV co-founder Temple Fennell highlighted the rising demand for climate investment opportunities globally. The company aims to invest in hardware-oriented climate-saving technologies that can bring significant emissions reductions and financial returns. In addition to the fund’s launch, CEV has opened a new office in London to extend its reach into Europe. Co-founder David Miller emphasized their hands-on guidance for portfolio companies, offering support beyond standard venture capital through leadership coaching, marketing, IP development, engineering support, and active board participation.
