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After three days of efforts , World Fund has last closed a € 300 million first fund , € 50 million poor of itstargetin 2021 , but still a considerable turn given a background of state of war and economic precariousness . The VC to begin with issue from the founder of the Ecosia independent search engine , where search enquiry fund the planting of trees .
World Fund nail its raise despite a war in Europe , interest rate uprise and jittery LPs . stock managing cooperator Danijel Višević said : “ It was a first-rate grueling fundraising surround , specially in 2023 . ”
“ We only invest in decarbonization engineering science , and we allow more than two - thirds of our capital for follow - on investment because in Europe it ’s hard to bridge the later - level crack , ” he added .
He said ironware had to be an significant component of its strategy : “ This is one affair we are doing wrongfulness in Europe , not concentrating on computer hardware for climate . ” He added that the fund has seat in technical natural endowment like biotech and biochemist to tax investments .
World Fund has already deployed some of its cash into a numeral of climate tech companies , but it says this majuscule will enable it to make 25 to 30 investment into European startups around decarbonization .
Its most notable investments include IQM Quantum Computers , Space Forge , Planet A Foods , Juicy Marbles , ENOUGH , CustomCells , recycling company Cylib , and proptech startup aedifion and Ecoworks .
World Fund will bebackedby the European Investment Fund ( which put in € 50 million ) , KfW Capital , Wachstumsfonds , Bpifrance ( the monetary fund ’s first investing outside of France ) , PwC Germany , NRW.BANK and Ignitis Group . World Fund is also backed by pension funds including the U.K. Environment Agency Pension Fund , Wiltshire Pension Fund and Croatia ’s Erste Plavi .
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If you ’re looking for comparisons , Norrsken VC is a $ 130 million impact VC that covers mood , while Demeter Partners lastraiseda € 250 million fund focused on clime .
World Fund ’s ascent comes at an opportune moment .
In 2023 European climate tech startup raised more than $ 20 billion , almost couple the premature year , and bucking declining trend in other sectors , accordingto Dealroom .
The U.K. , Sweden and Germany led for total mood tech VC in 2023 , but Iceland , Lithuania and Bulgaria show renowned growth .
And climate technical school isfaring wellin Europe . Valuations aremaintaining valueand European energy - related patent are up 15 % YoY.
The Berlin - based World Fund was founded in 2021 by Daria Saharova , Višević , Tim Schumacher and Craig Douglas . It has offices in Berlin , Munich , Cologne and Amsterdam .
