TLDR:
- Clean Energy Ventures raises $305M Fund II to scale climate technologies
- Fund aims to mitigate 75 gigatons of emissions by 2050
Climate tech venture capital firm, Clean Energy Ventures, has closed a $305 million oversubscribed second flagship fund to scale game-changing technologies in North America, Europe, and Israel. The fund follows a successful deployment of a $110 million Fund I, backing 20 companies poised to mitigate over 50 gigatons of greenhouse gas emissions by 2050. CEV’s unique investment thesis focuses on quantifiable climate impact alongside financial performance, aiming to mitigate at least 2.5 gigatons of CO2e emissions cumulatively by 2050. The firm plans to commercialize its portfolio companies by leveraging a technical and commercial team, strategic partnerships, and a Strategic Advisory Board led by former U.S. Secretary of Energy, Ernest Moniz. With the establishment of offices in London, CEV intends to bridge the funding gap for early-stage European companies in the climate tech sector. The fund has already invested in companies like Noon Energy, Evari, Nitrofix, and OXCCU, with a focus on accelerating innovations that contribute to decarbonization.
