Top 10: Climate Tech Funds
Globally, only around 16% of climate finance needs are being met.
Climate tech funding is getting closer to its goals with US$45bn of funding promised in funds that closed in 2024.
Tech solutions to sustainability challenges promise to change the world and are essential for meeting global goals, such as the Paris Agreement’s 2050 net zero commitment.
We’ve ranked 10 of the top climate tech funds.
10. Congruent Ventures
Managing Partners: Abe Yokell and Joshua Posamentier
Headquarters: California, USA
Founded: 2017
With decades of climate tech investing experience, Congruent supports early-stage companies creating technologies for a more sustainable future in North America.
Its initial investments range from formation capital to Series A and it supports companies as they scale.
Congruent has invested in companies including Amply Power and Blueprint Power, both of which were acquired by bp.
Joshua Posamentier, Managing Partner and Co-Founder at Congruent Ventures, says: “We're a US$1bn+ climate tech venture fund investing in founders who are reimagining mobility, energy, food systems and sustainable production.”
9. ENGIE New Ventures
Managing Director: Johann Boukhors
Headquarters: Paris, France
Founded: 2014
ENGIE New Ventures is the Corporate Venture arm of global energy provider ENGIE Group.
It makes minority investments in technology start-ups that complement activity within ENGIE to spur innovation.
Its portfolio contains 29 active start-ups, including CarbonBlue that aims to remove CO₂ from water and Powerdale that develops solutions for electromobility and energy management.
Johann Boukhors, Managing Director at ENGIE New Ventures, says he is “extremely proud to have led, for the past 5 years, an amazing team of multicultural high level investment professionals, supported by best-in-class experts, to invest equity and collaborate with fantastic start-ups acting altogether in favour of the energy transition for a better planet”.
8. Norrsken VC
Founder: Niklas Adalberth
Headquarters: Stockholm, Sweden
Founded: 2017
Founded in Sweden in 2017, Norrsken VC takes a results driven approach to impact and is an SFDR Article 9 fund with investments each tied to at least one SDG.
Norrsken VC’s portfolio includes intelligent movement company Einride, battery developer and manufacturer Northvolt and app Olio that aims to reduce waste.
“Sustainability is no longer just a mega trend — it’s a mega demand,” says Tove Larsson, General Partner at Norrsken VC.
“Over 100 countries, representing 82% of global emissions, have committed to net-zero targets and 80% of Europe’s largest companies now have actionable plans to achieve those goals.
“This represents the biggest demand shift in modern history.”
7. Octopus Ventures
CEO: Alliott Cole
Headquarters: London, England
Founded: 2007
Part of Octopus Group, Octopus Ventures is one of the biggest and most active venture capital investors in the UK and Europe and a certified B Corp.
Its portfolio includes second-hand selling platform Depop, food-sharing app Olio and food sustainability company Foodsteps.
Alliott Cole, CEO of Octopus Ventures, says: “At the heart of Octopus Ventures’ investment philosophy is a simple principle.
“We think entrepreneurs have the power to shape the future for the better – and we want to support them while they do it. It’s what we’ve done since we were founded.”
6. SOSV
Founder and Managing Partner: Sean O’Sullivan
Headquarters: New Jersey, USA
Founded: 1995
SOSV is a global venture capital firm that offers multi-stage investment with locations across the world.
Founded in 1995 by Managing Partner Sean O’Sullivan, it is one of the most active climate tech investors.
Its portfolio includes food-tech company NotCo, textile innovator Unspun and plastic circularity leader Novoloop.
“We call on founders to accept their roles as change makers,” Sean says.
“Deep tech start-ups live on the edge of what is possible and create the advancement humankind needs.
“Celebrate risk taking as a means for personal and professional growth; nothing makes you feel more alive than prevailing in the face of the toughest challenges.”
5. Khosla Ventures
Founder and Managing Director: Vinod Khosla
Headquarters: California, USA
Founded: 2004
Khosla Ventures (KV) is a California-based venture capital firm that works with early-stage companies across sectors including artificial intelligence, mobile technology and clean tech to provide “venture assistance”.
It was the first venture capital firm to invest in OpenAI in 2018 and its portfolio includes low-carbon cement company Fortera, plant-based food maker Impossible Foods and carbon recycling pioneer LanzaTech.
Jennifer Holmgren, CEO at LanzaTech, says: “The reality is there are no usual suspects in cleantech, and KV thinks outside the box.
“KV believed in our bold idea to change the way the world uses carbon and has been a critical partner in helping us create a post-pollution world.”
4. World Fund
Founders: Daria Saharova, Danijel Višević, Tim Schumacher and Craig Douglas
Headquarters: Berlin, Germany
Founded: 2021
World Fund is a European venture capital firm that supports entrepreneurs building climate tech that can save at least 100 Mt of CO₂e emissions per year.
World Fund’s portfolio includes carbon capture company Mission Zero, aerospace manufacturing Space Forge and second-hand shopping supporter Faircado.
The firm says it is “driven by tackling the climate crisis and only invests in technologies with scalable businesses and significant emissions savings potential".
It adds: “We support startups from early to growth stage, focusing on energy, food and agriculture, manufacturing, buildings and mobility.”
3. Pale blue dot
Founders: Joel Larsson, Heidi Lindvall and Hampus Jakobsson
Headquarters: Malmo, Sweden
Founded: 2020
Pale blue dot is an early stage venture capital firm that backs founders building future-shaping businesses with a focus on climate. Founded in 2020 and headquartered in Sweden, it has more than 30 companies in its portfolio.
Its portfolio includes risk management tech company Climate X, transportation and travel start-up Ember and charging infrastructure company Monta.
“As venture capitalists, we have a responsibility to think about how our choices and actions affect both our society and our industry,” says Heidi Lindvall, Founder and General Partner at Pale blue dot.
“The companies we invest in can change the world and the founders we choose to back can become our future leaders and have a significant impact. Perhaps even how we run our fund can influence our industry.”
2. Energy Impact Partners
Founder and Managing Partner: Hans Kobler
Headquarters: New York, USA
Founded: 2015
Energy Impact Partners (EIP) is a US$4.5bn global investment firm built to support the energy transition.
Its portfolio includes utility data provider Arcadia, industrial cybersecurity tech provider Dragos and clean energy lending platform Mosaic.
EIP completed fundraising for its Elevate Future Fund in 2023 with US$111.9m, making it one of the largest funds of its kind.
It attracted equity commitments from investors including Southern Company, Amazon and Microsoft.
“At EIP, we believe that investing in diverse founders is not only a social equity imperative, but a key component in driving innovation and progress in the clean energy transition,” says Anthony Oni, Managing Partner at EIP.
Hans Kobler, Founder and Managing Partner at EIP, adds: “Urgent action is needed to combat climate change and a task this size cannot be done alone.
“It requires a coalition of diverse thought, perspective and collaboration to make actionable progress toward decarbonizing the global economy.”
1. Breakthrough Energy Ventures
Managing Partner: Rodi Guidero
Headquarters: Washington, USA
Founded: 2015
Breakthrough Energy Ventures (BEV) is part of Bill Gates’ Breakthrough Energy.
In 2016, US$1bn was committed to the fund by billionaires including Jeff Bezos, Michael Bloomberg, Jack Ma and Richard Branson.
Bill Gates says: “This venture capital fund has supported more than 100 start-up companies working on every area of emissions.
“To be considered for funding, each company must prove they can reduce emissions by at least half a gigaton.”
The BEV portfolio includes next generation battery company QuantumScape, fusion power company Commonwealth Fusion Systems and energy storage company Form Energy.
Bill explains: “The Clean Industrial Revolution spans every corner of the global economy. In manufacturing, there’s green steel and net-zero cement. In agriculture, researchers have found ways to replace synthetic nitrogen fertilizer with microbes that convert atmospheric nitrogen into a form plants can use.
“These innovations are ready for prime time. They’re not science projects — they’re science products. They work. They’re commercially viable. And with some investment, they can be produced on the scale that large companies need.
“More and more companies and investors are gaining a toehold in new global industries.”
Make sure you check out the latest industry news and insights at ClimateTech Digital and be part of the conversation at our global conference series, Sustainability LIVE.
Discover all our upcoming events and secure your tickets today. Subscribe to the ClimateTech Digital newsletter.
ClimateTech Digital is a BizClik brand