Clean Energy Ventures, a venture capital firm funding early-stage climate innovations, has opened a London base as it closes its second fund at $305 million.
The ClimateTech VC said that in addition to significantly expanding the firm’s investment opportunities in North America, the latest fund now allows it to bring its strategy and expertise to climate technology entrepreneurs in Europe and Israel.
The launch of Fund II follows the successful deployment of a $110m Fund I, which has backed 20 disruptive companies across the climate tech landscape that collectively are poised to mitigate over 50 gigatons of greenhouse gas emissions.
CEV’s team of veteran climate investors have guided the next generation of companies spanning mobility, renewable energy, carbon capture utilisation and storage, energy storage, critical minerals and more through seismic market shifts.
It positions quantitative climate impact alongside financial performance – requiring that each investment be capable of mitigating at least 2.5 gigatons of CO2e emissions cumulatively between the initial investment and 2050.
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CEV takes a hands-on approach to commercialise its portfolio companies by leveraging a deeply technical and commercial team with support from a group of venture partners and angel investors with extensive industry executive experience and a strategic advisory board led by former US Secretary of Energy Ernest Moniz.
With a 15+ year track record of growing climate tech companies, CEV now works alongside more than 70 strategic co-investors, and is backed by LPs including Carbon Equity, The Grantham Foundation for the Protection of the Environment, Builders Vision, and New Summit Investments.
“With ClimateTech funding soaring tenfold across Europe in recent years, today it is the continent’s fastest growing sector,” said Daniel Goldman, co-founder and managing partner.
“Tapping into the region’s thriving innovation ecosystems, we are primed to bridge the funding gap for promising early-stage companies and bring our expertise and network to accelerate European companies’ path to market.”