TLDR:
- Berlin-based World Fund raises a record-breaking €300M first fund for climate tech VC in Europe.
- Invests in startups focusing on decarbonizing industries and tackling CO2 emissions.
Article Summary:
Berlin-based World Fund has secured a €300M first-time fund, marking a significant milestone in the climate tech venture capital space in Europe. The VC, founded in 2021, is dedicated to investing in startups that are developing technologies to decarbonize various industries such as energy, buildings, transport, and agriculture. With a portfolio already consisting of 15 early-stage companies, including SpaceForge and Juicy Marbles, World Fund aims to support founders who have the potential to scale their solutions, reduce CO2 emissions, and drive systemic change.
The fundraising environment for startups has been challenging, especially in the wake of decreased VC funding opportunities. World Fund aims to address this issue by focusing on providing the larger sums of capital that startups require to scale, especially during the critical ‘Series B valley of death’ stage. The VC is confident that investing in climate tech will give it a competitive edge, considering the sector’s resilience amidst subdued VC activity.
The VC plans to utilize the fresh capital to make new investments in over 25 European climate tech and deep tech startups. By co-leading a €25mn founding round in Mission Zero, a UK-based company specializing in energy-efficient carbon capture machines, World Fund demonstrates its commitment to supporting innovative solutions that combat climate change. The VC’s ability to raise such a substantial amount can be attributed to the maturation and institutionalization of the climate tech sector, as evidenced by the involvement of new institutional investors in its fund.
World Fund’s success in raising funds was further bolstered by the support of various entities, including the European Investment Fund, KfW Capital, PwC Germany, and several pension funds like the UK Environment Agency Pension Fund and Wiltshire Pension Fund. With offices in multiple European cities, World Fund is well-positioned to drive positive change in the climate tech ecosystem and support the growth of impactful startups in the region.
