TLDR

Key Points:

• World Fund raises €300 million venture fund for European climate tech.
• The fund targets early and growth-stage climate startups in Europe.

Summary:

World Fund, a Berlin-based VC firm, has successfully raised €300 million for its first fund to invest in European climate tech companies. The fund received backing from the European Investment Fund, BPI France, PwC Germany, Wiltshire Pension Fund, the UK Environment Agency Pension Fund, and other investors. Despite setting a target of €350 million, World Fund managed to secure significant institutional support from first-time VC investors. The firm plans to invest in 25 to 30 companies at the “Series B valley of death” stage, where startups often struggle to raise growth capital. Some of its portfolio companies include Mission Zero, CustomCells, and Juicy Marbles, focusing on modular direct air capture systems, customized lithium-ion batteries, and premium plant-based meat products, respectively.