Danish investment firm Climentum Capital has raised €60 million in a first close for its second climate tech fund, backed by the European Investment Fund (EIF), Denmark's export and investment fund EIFO, and the Danish Society of Engineers (IDA), to invest in early-stage climate technology startups across Europe.
Developing new climate technologies requires patient, long-term investors willing to support companies long before they become commercially established.
Climentum Capital backs hard tech companies that strengthen Europe's industrial resilience, sustainability and competitiveness. With teams based throughout the Nordics and Germany, we lead Seed and Series A rounds in companies addressing energy security, industrial efficiency, and supply chain sovereignty. Fund I launched in 2022 at €60 million. Fund II targets up to €100 million. With commitments from EIF, EIFO and IDA, Climentum Capital Fund II has reached a first close of €60 million.
According to Morten Halborg, General Partner, Climentum Capital:
"The fundraising environment for early-stage climate hard tech has not been easy in recent years. Investors are more selective, timelines are longer, and the proof bar is higher. That is why the composition of the Fund II launch matters: our investor syndicate reflects informed conviction, not momentum investing."
