TLDR:
- Clean Energy Ventures closed a $305 million Fund II to invest in early-stage climate innovations.
- The fund will focus on backing novel hardware-oriented climate-saving technologies with the potential for significant emissions reductions and financial returns.
Clean Energy Ventures (CEV) has announced the closure of an oversubscribed second flagship fund totaling $305 million, aimed at investing in early-stage climate innovations. This new fund will provide CEV with expanded opportunities to invest in North America, Europe, and Israel. The fund follows the success of a previous $110 million fund that supported 20 disruptive companies in the climate tech landscape, collectively poised to mitigate over 50 gigatons of greenhouse gas emissions.
CEV’s investment strategy focuses on financing companies in various sectors including mobility, renewable energy, carbon capture, energy storage, and critical minerals. The firm emphasizes quantitative climate impact alongside financial performance, with each investment expected to mitigate at least 2.5 gigatons of CO2e emissions from the initial investment to 2050.
The company takes a hands-on approach to commercializing portfolio companies, leveraging a skilled team and support from industry executives. With a track record spanning over 15 years, CEV has deployed capital from Fund II into companies such as Noon Energy, Evari, Nitrofix, and OXCCU, with additional investments expected in the near future.
CEV’s Co-Founder and Managing Partner, Temple Fennell, highlighted the rising demand for climate investment opportunities globally and the firm’s commitment to investing in innovative technologies that can deliver substantial emissions reductions and financial returns. With a focus on bridging the funding gap for early-stage companies in Europe, CEV aims to accelerate the development and adoption of climate technologies in the region.
Overall, CEV’s second fund represents a significant step towards supporting more early-stage companies with technical solutions for decarbonization and advancing climate action.
