Climentum Capital

Climentum Capital is a European venture capital firm dedicated to investing in climate hard tech companies that are driving the industrial transformation necessary for a sustainable, resilient, and competitive Europe. The firm focuses on solutions that sit at the intersection of decarbonization, industrial development, and financial performance, targeting Europe's highest-emitting sectors. As an Article 9 fund, Climentum Capital explicitly links financial returns to verified climate impact, employing a dual carry model that rewards partners based on both financial and CO2 emission reduction goals. They primarily back un-hyped, early-stage companies with breakthrough hardware and deep-tech innovations, augmented by software, that demonstrate real decarbonization potential.

The firm was founded in 2021 by a diverse team of partners with backgrounds in venture capital, entrepreneurship, institutional financing, consulting, and corporate roles. Co-founders include Morten Halborg, Dörte Hirschberg, Stefan Mård, and Malin Carlström [cite: 6 from previous search, 15 from previous search]. Climentum Capital provides catalytic capital at key inflection points, with initial ticket sizes ranging from €1 million to €5 million, and follow-on capacity of up to €10 million per company [cite: 1, 2 from previous search, 8 from previous search]. Their investment strategy emphasizes scaling hard tech financially, operationally, and commercially across Europe's industrial landscape, with a core geographic focus on the Nordics as a climate innovation hub and the DACH region as Europe’s industrial heartland.

Climentum Capital's portfolio showcases a commitment to tackling industrial emissions through innovative solutions. Notable investments include Qvantum, which offers urban heat pump and thermal mini-grid solutions; one.fıve, focused on sustainable packaging; Jolt Activated Electrodes, contributing to green hydrogen production; and Rail-Flow, a business/productivity software company [cite: 1 from previous search, 2 from previous search, 4 from previous search]. Recent additions to their portfolio also include Nature Robots, an agricultural AI and robotics firm, Entocylce, involved in insect farming technology, and ZeroPoint Technologies, which develops energy consumption management systems. The firm's debut fund, Climentum Capital I, successfully closed at €60 million in September 2023, and they are currently planning to launch a second fund targeting €100 million [cite: 6 from previous search].

The team at Climentum Capital comprises experienced professionals with a strong presence across Europe, including offices in Copenhagen, Berlin, Stockholm, and Stuttgart. General Partners like Stefan Mård lead impact and sustainability, Dörte Hirschberg manages investments and investor relations in the DACH region, and Jennifer Dungs spearheads hard tech investments with extensive experience in mobility, energy, and industrial deep tech. Morten Halborg oversees fund formation and operations, while Nathalie Öhlander handles financial strategy and deal-making. This diverse expertise enables the firm to provide comprehensive support to its portfolio companies, guiding them from early commercialization to industrial scale-up.