Cleantech & Climatech

ABC Impact Fund II is the second flagship private equity fund managed by ABC Impact, a Singapore-based investment firm focused on generating measurable social and environmental impact across Asia. Launched in August 2023, the fund achieved a final close in April 2025, raising over USD 600 million—doubling the size of its predecessor. The fund secured commitments from a diverse group of global and regional investors, including Temasek, Temasek Trust, the Asian Development Bank (ADB), Mapletree Investments, SeaTown Holdings, a Southeast Asian sovereign wealth fund, a U.S. family office, and various ultra-high-net-worth individuals. The fund targets four key sectors: clean energy and climate resilience, inclusive finance and digital access, healthcare and education, and sustainable food systems. It provides growth capital to innovative, commercially viable companies that contribute to achieving the United Nations Sustainable Development Goals (SDGs). Representative investments include Aye Finance in India, Tekoma Energy in Japan, and DCDC Kidney Care, a leading dialysis provider serving underserved populations in India. ABC Impact implements a disciplined impact measurement and management framework, aligned with international standards such as the Principles for Responsible Investment and the Operating Principles for Impact Management. With total assets under management exceeding USD 900 million, the firm continues to scale private capital solutions that support a more inclusive and sustainable future for Asia.

The Transformation Fund is the catalytic arm of ALTÉRRA, the UAE's $30 billion climate investment platform launched at COP28 in December 2023. With a $5 billion mandate, the Transformation Fund provides risk-mitigation capital to mobilize private investment into climate-related opportunities in the Global South and emerging markets, targeting regions that are underserved by mainstream climate finance.

Altor ACT I is the first dedicated green transition fund raised by Altor Equity Partners, the leading Nordic-based private equity firm with over EUR 8 billion in assets under management. The fund closed in September 2024 at its hard cap of EUR 1.1 billion, having been significantly oversubscribed following a rapid fundraise from a high-quality institutional investor base including pension funds, insurance companies, asset managers, sovereign wealth funds, and foundations from the United States, Europe, and Asia. Monument Group served as exclusive placement agent for the fund. ACT I is structured as an SFDR Article 9 fund — the European Union's highest sustainability classification — and deploys capital exclusively into investments that leverage Altor's 20-year expertise in Nordic and DACH mid-market companies with direct green transition themes or that benefit materially from the structural tailwinds of the low-carbon economy transition. Core sectors of focus include industrial technologies enabling decarbonisation, business and environmental services, and companies producing or distributing solutions in renewable energy, energy efficiency, and clean infrastructure. The fund targets mid-market businesses in the EUR 100–500 million enterprise value range across the Nordic region and the DACH economies (Germany, Austria, Switzerland). Altor ACT I draws on the same team and investment process that has built Altor into one of the most respected PE managers in Northern Europe across six flagship funds (Altor Fund I through Fund VI, the latter closing at EUR 3 billion in December 2023). While the ACT I strategy is sustainability-focused, it targets the same highly attractive absolute returns as Altor's flagship funds, investing in proven technologies and market leaders rather than early-stage or speculative green ventures. Both existing Altor Fund VI investors and new institutional investors committed to sustainable PE strategies participated in the ACT I raise, reflecting the fund's appeal across the firm's established LP network.

Altor Equity Partners completed the final close of Altor Fund VI on 19 January 2024, raising EUR 3.0 billion at its hard cap — breaking the firm's own fundraising record set by Fund V. The fund is structured under Swedish AIFMD regulation and classified as an Article 8 fund under SFDR, reflecting Altor's commitment to investing in companies that promote environmental or social characteristics as part of its value-creation approach. At the time of the final close, more than one-third of committed capital had already been deployed across seven portfolio investments, demonstrating exceptional pipeline momentum from the outset of fundraising. Altor Fund VI targets mid-market companies headquartered in the Nordic region — Sweden, Denmark, Finland, and Norway — and the DACH countries (Germany, Austria, Switzerland), consistent with the firm's two-decade investment franchise. The strategy focuses on businesses in business services, consumer products, industrials, and technology sectors, with particular attention to investments aligned with the green transition and environmental sustainability themes. Altor employs a disciplined operational and growth value-creation playbook: the firm's portfolio companies achieved 16% EBITA growth during 2023 and 60% aggregate value growth since the onset of the COVID-19 pandemic, illustrating the efficacy of the approach even through disruption. The fund's realized portfolio track record stands at a gross IRR of 29% and a 3.0x money-on-invested-capital multiple across Altor's prior vehicles. Altor Fund VI has since made additional investments including Imbox Protection in September 2025, continuing the firm's focus on technology-enabled, sustainability-aligned businesses across northern Europe and German-speaking markets. With EUR 3 billion in committed capital, Fund VI represents Altor's largest vehicle to date and positions the firm as one of the pre-eminent Nordic mid-market private equity managers.

The Altree Kadzi Gender Climate Fund (AKGCF) is a blended-finance impact fund managed by Altree Capital Ltd., an Africa-focused asset management firm founded in 2006 with offices in Bermuda, the United Kingdom, South Africa, and Kenya. Launched in 2023 with a fundraising target of between US$50 million and US$80 million, the fund is currently deploying capital via a special-purpose vehicle while the formal fund raise continues. Its mandate addresses twin structural funding gaps in African capital markets: the systemic underrepresentation of women-led enterprises in private investment flows, and the acute underfunding of climate adaptation solutions across Sub-Saharan Africa. The investment thesis integrates a gender-lens with a climate-smart mandate. All portfolio companies must meet at least two of the 2X Challenge criteria — a globally recognised gender-finance standard — and the fund targets a portfolio where at minimum 40% of investments address women's health and at least 60% address climate adaptation or mitigation. Altree Capital became the ninth private-sector investor to formally participate in the 2X Challenge (2024–2027 cycle). The fund deploys capital through multiple instruments — equity, debt, mezzanine finance, convertible notes, and revenue-based financing — to accommodate the diverse capital needs of early- to growth-stage enterprises across Sub-Saharan Africa. Target sectors span electric vehicles and green mobility, clean technology, renewable energy, regenerative agriculture, women's health, food waste prevention, water infrastructure, and green logistics. As of the most recent reporting period, the fund has backed five portfolio companies: Wahu! Mobility, a women-founded electric vehicle operator in Ghana and Togo that has reduced 272,761 kg of CO2 and achieved 120% year-on-year revenue growth while generating carbon credits sold to Switzerland's KliK Foundation; Kasha, a women's health e-commerce platform in East Africa; Uncover Skincare; Burton and Bamber, a food waste prevention company; and Nature's Nectar. The fund has received first-loss and grant capital from the Climate Gender Equity Fund, a USAID-anchored public-private partnership that includes Amazon, Reckitt, the Skoll Foundation, The UPS Foundation, and the Visa Foundation. The AKGCF was selected as a finalist in the 2023 Global Innovation Lab for Climate Finance, and fund CEO Jenni Chamberlain has been named to the Africa AM Power 50 in consecutive years.

Ambienta SGR, the Milan-based private equity firm dedicated exclusively to environmental sustainability, closed its fourth private equity fund on 20 July 2022 at its EUR 1.55 billion hard cap. The fund reached capacity in less than six months of active marketing and is the largest European private equity fund ever raised with a sole focus on companies enabling positive environmental change. Existing limited partners re-upped at more than 100% of their prior fund commitments, a powerful testament to the firm's track record and to growing institutional appetite for dedicated environmental strategies. The fund's LP base spans approximately 55% from EU member states, 20% from other European countries, and the remainder from North America, South America, and Asia. Ambienta IV targets European mid-market companies — its so-called 'environmental champions' — that derive competitive advantage from the structural megatrends of resource efficiency and pollution control. The fund deploys capital into buyouts across industrials, specialty chemicals, materials, energy transition, and environmental services, applying Ambienta's proprietary Environmental Impact Analysis (EIA) methodology to quantify each portfolio company's contribution to reducing pollution or improving resource efficiency. Ambienta IV is classified as an Article 9 fund under SFDR, the highest sustainable finance classification available under European regulations, reflecting the fund's dual commitment to financial returns and measurable positive environmental impact. Ambienta SGR oversees approximately EUR 2 billion in total assets under management across multiple vehicles, including private equity, small-cap, and public market funds. Fund IV represents the latest chapter in the firm's 20-year history of backing European environmental leaders and builds directly on the investment thesis and portfolio construction approach established in prior funds. The fund is domiciled in Luxembourg and managed by Ambienta SGR S.p.A. under full Italian AIFMD authorisation from Banca d'Italia.

Ambienta SGR, the Milan-based private equity firm dedicated to environmental sustainability, completed the final close of its inaugural small-cap strategy in June 2025, raising EUR 500 million and surpassing its original EUR 450 million target. The Ambienta Small Cap Strategy invests in European small-cap companies that qualify as environmental sustainability champions — businesses with revenues up to EUR 150 million and enterprise values in the EUR 50 million to EUR 100 million range that derive competitive advantage from resource efficiency or pollution control megatrends. The strategy targets eight to ten portfolio companies per vintage, enabling a concentrated, hands-on approach consistent with Ambienta's founder-led investment culture. The strategy represents Ambienta's deliberate return to the smaller end of the market, where the firm made many of its formative investments nearly two decades ago. Many of the businesses that formed the early backbone of Ambienta's investment approach were founder-led, high-quality small-cap industrials and environmental services companies — the same profile the small-cap strategy now explicitly targets. The dedicated investment team is headed by Partner Francesco Lodrini alongside newly appointed Partners Yann Bak and Giacomo Forti, based across Ambienta's Milan and Paris offices. Each portfolio company is assessed and monitored using Ambienta's two proprietary tools: the Environmental Impact Analysis (EIA) framework, which quantifies the company's contribution to reducing environmental externalities, and the ESG in Action programme, which drives operational sustainability improvements throughout the holding period. The Ambienta Small Cap Strategy sits alongside Ambienta IV (EUR 1.55 billion, 2022 vintage) and the firm's public-markets vehicles as part of a multi-product environmental asset management platform. The strong investor demand — exceeding the EUR 450 million target — validates Ambienta's thesis that the small-cap segment offers significant untapped opportunity for sustainability-driven value creation in European private equity.

Amundi ETI Megatrends III is a private equity fund focused on investing in unlisted mid-sized European companies (ETIs) that are aligned with long-term transformative megatrends—namely technology, demographics, and environmental sustainability. The fund follows a thematic strategy designed to capture resilient growth across industries impacted by these structural shifts. The vehicle seeks to invest primarily through growth capital and buyout transactions. It will target both majority and minority stakes, aiming to play an active ownership role by supporting strategic decision-making, governance, and operational transformation. ESG considerations are deeply embedded in the investment process, in line with Amundi’s broader sustainability commitments. The fund plans to build a portfolio of 15 to 20 companies, with a target program size of €600 million. At first close, it raised €285 million—reflecting strong investor appetite and the successful track record of prior vintages. The investment team boasts over a decade of shared experience and strong historical performance, including a DPI of 1.5x for its 2018 vintage and early value creation in the 2021 vintage. Classified as an Article 8 product under SFDR, Amundi ETI Megatrends III also supports European strategic autonomy by focusing its capital deployment predominantly in France (at least 60%) and the broader EU (up to 40%). It prioritizes companies positioned to become future leaders in sustainable and technologically driven markets.

The Apax Global Impact Fund, known as AGI, is Apax Partners' dedicated impact investing vehicle, closed at $877 million in December 2023. Classified as an Article 9 fund under the European Union's Sustainable Finance Disclosure Regulation (SFDR), AGI represents Apax Partners' commitment to investing in mission-driven businesses that deliver measurable environmental or social benefits while generating market-rate private equity returns. The fund pursues growth buyout and minority growth capital investments in companies across four core thematic areas: Health & Wellness, Climate Environment & Resource Efficiency, Social & Economic Mobility, and Digital Impact Enablers. All investment themes are aligned with the United Nations Sustainable Development Goals (UN SDGs). AGI provides equity checks typically ranging from $30 million to $150 million per investment, partnering with companies at the intersection of commercial viability and positive societal impact. The fund employs a proprietary dual-score impact measurement framework — the Impact Threshold Score and Impact Improvement Score — administered by a dedicated 30-person Operational Excellence Practice. A portion of carried interest is directly linked to successful impact performance outcomes, aligning financial incentives with impact delivery. AGI has attracted capital from a diverse global investor base including private and public pension funds, sovereign wealth funds, fund of funds, insurance companies, endowments, and charitable foundations. The fund is managed by three Managing Partners — David Su (New York), Edward Donkor (London), and Juan Pablo Moncayo — and is guided by an Impact Advisory Board comprising Sir Ronald Cohen, Professor George Serafeim, and Laura D. Tyson. Portfolio companies as of 2025 include GAN Integrity, Swing Education, Bonterra, IES, and Foods Connected.

The BSocial Impact Fund II is a closed‑end venture capital vehicle managed by Ship2B Ventures, dedicated to investing in early‑stage companies that generate measurable social and environmental impact while pursuing market‑rate financial returns. The fund builds on the team’s track record in impact investing and seeks startup entrepreneurs whose business models are explicitly designed to address systemic challenges such as vulnerable populations, decarbonisation and ecosystem regeneration.The fund focuses on companies with high growth potential across Spain (and potentially beyond) that combine innovation and scalability with strong impact intention. Ship2B Ventures employs rigorous impact‑measurement frameworks (including defined KPIs and Theory of Change) ensuring that investments are not only financially viable but also aligned with measurable positive outcomes for people and planet.Investment opportunities are selected in sectors where technology, disruptive business models and purpose converge — for example healthtech, care for ageing or vulnerable groups, climate tech, circular economy and digital solutions for inclusion. The fund aims to partner with entrepreneurial teams that are committed, experienced and ready to scale. By using blended‑finance mechanisms (including support instruments, first‑loss protection tranches, and technical assistance) the model seeks to mobilise more private capital into impact‑oriented ventures.Through its strategy of “triple return” (financial, social and environmental), the fund aspires to demonstrate that purpose‑driven investment can achieve commercial success while contributing to systemic change. By doing so, it aims to play a key role in strengthening the Spanish impact ecosystem, bridging the gap between venture capital and the goals of social inclusion, climate mitigation and sustainable development.

DCVC Climate Select is a venture capital fund targeting climate startups at the mid-stages of development. The fund is located in Palo Alto, California. The fund is focused on climate technologies and applications in AI, tech bio, and robotics, where it sees opportunities for investment in underfunded areas. The fund is managed by the well-established Silicon Valley VC firm DCVC, which has invested $360 million from other funds into climate startups over the last decade. DCVC Climate Select initially aimed to raise $500 million, but this target has since been lowered to $400 million due to challenging market conditions.

The Decarbonization Partners Fund I focuses on investing in late-stage venture capital and growth private equity for next-generation companies that support the acceleration of decarbonization and the transition to a net-zero economy. The fund has attracted a diverse set of over 30 institutional investors representing 18 countries, including public and private pension funds, sovereign wealth funds, insurance companies, and corporates and family offices across North America, Europe, and Asia Pacific. The diversity and depth of the investor base reflect the global nature of the opportunity around climate investing, directly aligning with Decarbonization Partners’ global focus. The Fund’s target investments include companies that drive intentional, material, and measurable decarbonization outcomes. It invests in companies with de-risked technologies that are ready to scale and can benefit from BlackRock and Temasek’s complementary platforms and deep access. The Fund’s investments span several innovative decarbonization technologies, including sustainable materials, clean hydrogen, science-based carbon management services, low-emissions battery recycling, EV fleet management, and thermal energy storage for industrial applications. The partnership aims to invest in companies that provide solutions and technologies to help accelerate global efforts to achieve a net-zero global economy by 2050. The sectors targeted for investment include Carbon Capture, Storage and Utilization, Bio and Low Carbon Products, Next Generation Energy, Advanced Mobility, Carbon Management Services, and Digital Transformation. The team has built a robust pipeline of proprietary deal flow and intends to continue executing on this in the coming months. The Decarbonization Partners team, which has grown to over 25 members, includes experienced venture capital and growth equity investment and portfolio management professionals across offices in New York, San Francisco, Singapore, London, Paris, and Houston. The team was intentionally constructed to provide portfolio companies with trusted value-add partners who bring significant technical and operational experience to the table.

EIP Flagship Fund III is the latest core investment vehicle from Energy Impact Partners (EIP), a global investment firm focused on the clean energy transition. Launched in 2023, this $1.36 billion fund builds on EIP’s collaborative model, bringing together more than 75 strategic limited partners from the energy, utility, industrial, and financial sectors. The fund is designed to accelerate innovation and real-world deployment of transformative technologies across the global energy landscape. This third Flagship Fund represents nearly a 40% increase over its predecessor, giving EIP significantly more capital to deploy during a pivotal moment in the energy industry. With surging power demand driven by AI infrastructure, data centers, and electrification, energy systems must evolve to deliver greater reliability, affordability, and resilience. Fund III focuses on commercially validated technologies that can scale — particularly in energy production, storage, distribution, and intelligent grid management. The fund’s investment strategy is tailored for complexity, with flexibility to adapt across regional and regulatory contexts while targeting growth and mid-market opportunities. EIP emphasizes companies that have achieved product-market fit, possess robust technology, and demonstrate clear scalability. By combining sector-specific diligence with a deep network of corporate partners, EIP supports companies that can materially accelerate decarbonization and infrastructure modernization. EIP Flagship Fund III is not just capital—it’s a platform. The firm fosters deep collaboration between its LPs, portfolio founders, and industry operators to ensure that innovation scales beyond the lab. Backed by sovereign wealth funds, insurers, mission-aligned family offices, and global corporates, the fund seeks to deliver both impact and returns by enabling the next generation of energy systems globally.

The EV II fund is a 70m€ Venture Capital fund that invests in innovative companies in Series A & B stage. The fund has a focus on Fintech and Beyond Banking sectors, including financial technology, RegTech, cybersecurity, mobility, energy, agriculture, and more. The fund targets investments in Central and Eastern Europe, which is an emerging startup ecosystem with amazing talent and founders but lacks the attention and funding resources of more mature regions. The fund has a commitment from RBI, Raiffeisen-Holding Niederösterreich-Wien, and Raiffeisen-Landesbank Steiermark, and has previously invested in a portfolio of 15 companies, including investment banking, e-signature & identification, and RegTech companies, among others. The main goal of Elevator Ventures is to earn a financial return for its investors. In addition, they want to contribute to the strategy of the banks and engage with high-growth companies whose business models might be changing the industry dynamics in the mid- to long term. The fund also cooperates with international co-investors and has decided to invest in a Fund of Funds and other VC funds alongside Raiffeisen-Landesbank Steiermark, and Raiffeisenlandesbank Oberösterreich. The fund also believes in the transformative power of technological shifts that enable high-growth companies to drive customer value and reshape industries. They are driven by a sector focus that encompasses not only Fintech but also Beyond Banking, which includes platform-based business approaches in various service areas. Elevator Ventures also plans to continue to promote innovation in the region with the backing of its LP base.

Energize Ventures Fund III, with $430 million in capital commitments, is a VC fund by Energize Capital. The fund went over its initial target of $350 million. This fund aims to invest in early-stage companies developing digital and software-enabled solutions that drive energy and industrial transformation. The closure of Fund III brings Energize Capital's total assets under management to over $1.8 billion. The fund focuses on asset-light, digital-first climate solutions, particularly in sectors such as industrial digitization, next-generation infrastructure, and the energy transition. Energize Capital plans to invest in companies at the Series A to C stages, with average check sizes ranging from $15 million to $20 million. Initial investments from Fund III include Tyba, a battery optimization software platform; Archive, a resale technology solution for brands; and Nira Energy, a grid interconnection software platform for energy developers. Energize Ventures Fund III is backed by a diverse group of institutional, corporate strategic, family office, and impact investors. New limited partners include Sweden’s Första AP-Fonden (AP1), Capricorn Investment Group, Reference Capital, Keeling Capital, Keysight Technologies, and WEX Venture Capital. Returning investors comprise GE Vernova, Caisse de dépôt et placement du Québec (CDPQ), Builders Vision, UBS, and WEC Energy Group.

FORWARD.one Fund III is a €200 million industrial technology venture fund aiming to back Europe’s next generation of breakthrough hardware and deeptech companies. With a hard cap set at €250 million, the fund will deploy initial tickets in the range of €1–3 million, reserving additional capital for follow‑on financing. The fund intends to build a concentrated portfolio of 25–30 early‑stage companies, focusing on domains such as semiconductors, robotics, sensors, advanced automation, climate tech, and industrial innovation. Its geographic focus includes the Benelux, Germany/Austria/Switzerland (DACH), the Nordics, and other European innovation hubs. FORWARD.one brings a hands‑on, commercialization‑oriented investment style. Its value proposition is rooted in bridging the “deeptech gap” by combining technical domain expertise, rapid execution, and industry networks to help founders transform advanced research into scalable products for real markets. The fund also builds on FORWARD.one’s performance track record: Fund I (launched ~2018) delivered a net IRR of ~41 % and 2× DPI, with exits such as Sensorfact (acquired by ABB) and Mayht (acquired by Sonos). Fund II (launched ~2021, ~€145 million) is mid‑deployment, targeting similar sectors. With Fund III, the firm aims to scale its backing of Europe’s industrial tech champions and deliver strong returns for LPs.

GEF US Climate Solutions Fund II LP is a private equity fund managed by GEF Capital Partners. It focuses on investing in North America-based lower middle-market companies that have developed solutions to address climate change and pollution mitigation. The fund exceeded its original $250 million target, closing with $325 million of capital commitments. Limited partners in Fund II include various climate change-focused institutions such as Blue Earth Capital, HQ Capital, ODDO BHF, INGKA Investments, GEM Investments, Första AP-fonden, Quilvest Capital Partners, Granite Capital Management, and Nordea. The fund aims to support small-scale businesses critical to the transition to a net zero and circular economy by providing both capital and guidance from impact investors. GEF Capital invests in companies in sectors including clean energy, energy efficiency, waste, water, and resource efficiency. As of May 2024, the fund has invested in six companies: InSite, a Washington DC-headquartered provider of software used by real estate owners and operators to reduce energy usage and improve building performance in order to meet sustainability goals (2021); Lifecycle Renewables, a Massachusetts-based recycler of used cooking oil into a branded heating oil that is used by universities, hospitals and utility companies to attain net zero carbon emission targets (2022); Murf E-Bikes, a California-based designer and maker of electric bikes (2022); Polargy, a California-based designer of energy efficient systems for hot and cold aisle containment systems, modular walls and structural ceilings in data centers (2023); Civic Renewables, a Maryland-based provider of residential solar energy installation services (2023); and Next Step Energy Solutions, a Colorado-based provider of LED lighting systems used in the healthcare, manufacturing and commercial real estate sectors (2023).. With the closing of Fund II, GEF Capital welcomed two new operating partners, bringing expertise in carbon credit development, sales, marketing, and operational support to deepen value creation and impact for portfolio companies. The fund aims to showcase that environmental outcomes can result in strong financial and environmental benefits. FirstPoint Equity served as the lead placement agent for GEF Capital in fundraising for Fund II, attracting a broad spectrum of responsible investors. Additional placement agent services were provided by Asante Capital, TritonLake, and Impactus Partners. Latham & Watkins served as legal counsel for the formation of Fund II.

The fund is designed as a European closed‑end venture capital vehicle managed by Kibo Ventures. It aims to back early‑stage software businesses with global ambition, leading or co‑leading pre‑series A and series A rounds. Its investment policy places a geographic emphasis on companies whose center of operations, management or strategic base is in Spain, with the intention that at least two‑thirds of invested capital goes into Spanish companies. The duration of the fund is estimated at ten years from the first close, extendable by up to two additional one‑year periods, and it targets a portfolio of B2B software companies with differentiated technologies and scalable international models. Typical checks are in the order of ~€2 million into early‑stage rounds, seeking minority positions (~10‑20%) in companies ready to scale, demonstrating product‑market fit and growth potential.

MVI Fund III, managed by Stockholm-based MVI Advisors, achieved a final close at its SEK 2 billion hard cap in April 2025. The fund was oversubscribed after just five months of fundraising, reflecting strong investor confidence in MVI's strategy. This third fund represents an 84% increase in size compared to its predecessor, underscoring MVI's growth and the appeal of its investment approach. The fund attracted a diversified investor base, including returning LPs and new institutional investors from the EU and the U.S., such as Ingka Investment and Saga Private Equity. MVI Fund III continues the firm's focus on acquiring controlling stakes in founder-led, asset-light companies within the Nordic region, emphasizing sectors with strong buy-and-build potential. MVI Fund III has already made its first platform investment, establishing a Nordic environmental and sustainability platform through a partnership with Ametalis and the acquisitions of Envima, Westberg Vibrations- och Omgivningskontroll, and Natur og Samfunn. This investment aligns with MVI's thematic focus on sustainability and circular economy initiatives.

Magnesium Capital I focuses on profitable European companies with proven technologies or tech-enabled services that are positively impacting the decarbonisation of the production, distribution, and consumption of energy. The team has been backing the buyouts of such businesses for a number of years on a direct deal basis. Since inception, Magnesium has completed seven platform investments, signed six follow-on acquisitions, and exited two investments for 4.2x gross MOIC. The fund targets high-growth, profitable businesses in Europe and the UK that support the energy transition. It likes to partner with entrepreneurial management teams and support them on their next stage of growth. Magnesium looks for companies with competitive advantages in their core technology or tech-led service that have a positive impact on the way energy is produced, distributed, or consumed. The fund takes controlling stakes in each of its investments but considers significant minority positions in certain circumstances. The fund closed its inaugural Fund, Magnesium Capital I, at its hard cap of €135m, exceeding the €100m Fund target. The final close occurred less than a year after the Fund’s first close with Magnesium attracting blue-clip institutional investors from the US, Europe, and the UK. The combined impact of these portfolio companies already directly contributes to the avoidance of over 30 million tonnes of CO2 equivalent per annum, demonstrating their focus on impactful investments with positive environmental outcomes. The fund prefers investments ranging from €15 million to €50 million in companies with enterprise values of €25 million to €100 million.

Maniv's third and latest fund, known as Maniv III, continues to focus on an early-stage investment strategy in the intersection between mobility, transportation, and energy. The firm previously had a strong focus on Israeli startups but has now expanded its geographic focus and has active portfolio companies in nine countries. The $140 million fund reflects new goals, including a more diverse group of investors as well as the inclusion of financial investors who see the decarbonization and digitization of all forms of transportation as a trend that generates the best financial returns. The fund includes investors from diverse industries such as leasing, fintech, logistics, vehicle maintenance, energy, fleet management, and repair. Maniv's fund also reflects an evolving investment strategy as the firm is now investing in the broader climate tech world, particularly where it overlaps with transportation. The fund has made investments in companies involved in green hydrogen production, e-motorcycle battery swapping, and the use of post-consumer recycled plastic in manufacturing. Overall, Maniv's fund targets investments in startups and companies that are driving innovation and technological advancements in mobility, transportation, and energy across various sectors and geographies globally. Investors in the fund include BNP Paribas Personal Finance, the venture arms of Shell and Enterprise Mobility, Valeo, Jaguar Land Rover venture arm InMotion Ventures, Toyota Motor Corp.’s Woven Capital, vehicle leasing company Arval, transportation infrastructure giant Ferrovial, the industrial manufacturing firm ITT Inc., fleet payments business WEX and an unnamed European insurance company.

The Pictet Private Assets SICAV – Environment Co-Investment Fund I ELTIF, launched by Pictet Alternative Advisors, aims to broaden investor access to environmental technology investments across private markets. The fund will target 20-25 investments across sectors such as greenhouse gas reduction, sustainable consumer, pollution control, the circular economy, and enabling technology. This strategy is aligned with the Planetary Boundaries scientific framework. Led by Pierre Stadler, Head of Thematics PE, and Nicolas Thomas, Thematics Principal, the fund will follow a co-investment approach by taking minority positions alongside PE firms globally. The minimum subscription for the retail share class is €10,000. The fund is classified as an article 8 fund under Sustainable Finance Disclosure Regulation, reflecting its focus on sustainability and environmental impact. Stadler and Thomas emphasize the potential for significant financial returns and above-average long-term growth in companies providing environmental solutions.

Pioneer Infrastructure Partners II SCSp is the second flagship fund managed by Pioneer Point Partners, a London-based private equity firm focused on sustainable infrastructure investments. The fund closed in April 2025 with €1.1 billion in commitments, exceeding its original target and highlighting strong investor appetite for environmentally focused strategies. The fund is structured as an Article 9 vehicle under the EU Sustainable Finance Disclosure Regulation (SFDR), which denotes its primary objective as sustainable investment. Its mission aligns with the broader push toward decarbonization, energy transition, and circular economy initiatives in Europe. Pioneer Infrastructure Partners II targets platform investments that promote long-term environmental sustainability. The fund’s strategy involves acquiring controlling stakes in lower mid-market companies and scaling them through operational improvements and strategic growth. The investment team brings sector-specific expertise to build value over time. Target sectors include renewable energy (such as wind, solar, and geothermal), clean fuels, energy efficiency technologies, sustainable mobility solutions, and environmental infrastructure like waste and water treatment. These areas are key to supporting Europe’s transition to a low-carbon economy. Geographically, the fund focuses on Western Europe, particularly the Netherlands, Belgium, Germany, Italy, and Spain—markets with strong regulatory support and infrastructure needs aligned with its thesis. The fund typically invests in companies with enterprise values between €50 million and €200 million, annual revenues of €10 million to €100 million, and positive EBITDA. These companies often require capital for expansion, innovation, and market development as they contribute to sustainable economic growth.

The Eurazeo Planetary Boundaries Fund 1 (EPBF) is a next-generation impact buyout vehicle focused on companies that contribute to restoring or adapting to Earth’s critical environmental limits, as defined by the planetary boundaries framework. Launched with a target of €750 million, the fund invests in small to mid-market companies offering scalable solutions in areas like circular economy, biodiversity, low-carbon energy, and sustainable agriculture. EPBF integrates scientific guidance and measurable impact KPIs into its investment strategy, aligning financial success with environmental progress. Managed by Eurazeo partners Erwann Le Ligné and Wilfried Piskula, the fund is backed by a high-level advisory board with experts from science, policy, and industry. Its first investment is in Bioline AgroSciences, a leader in natural pest control, marking a strong commitment to eco-positive innovation.

The Radical Fund is an early-stage venture capital firm dedicated to supporting Southeast Asia's transition to a more resilient future. With a target fund size of $40 million, it invests in startups that address climate change through both adaptation and mitigation strategies. The fund focuses on pre-seed, seed, and pre-Series A stages, providing not only capital but also operational and technical assistance to its portfolio companies. Recognizing the unique challenges faced by Southeast Asian countries, The Radical Fund prioritizes solutions tailored to the region's specific needs. It seeks out ventures that may not traditionally be classified as climate tech but have the potential to make significant environmental impacts. This includes sectors like agriculture, food, circular economy, financial services, mobility, and logistics. The fund is part of the Utopia Capital Management group, which has supported over 130 early-stage startups in emerging markets. The Radical Fund's team is based in Bangkok and Singapore, with plans to expand in the Philippines, Vietnam, and Indonesia. Its mission is to build an ecosystem of climate-oriented companies that deliver both commercial returns and measurable climate impact.

Bosch Ventures, the corporate venture capital arm of the Bosch Group, has announced the launch of its sixth fund, Robert Bosch Venture Capital Fund VI, with a commitment of €250 million (approximately $270 million USD). This fund aims to invest in early-stage and scale-up deep-tech startups worldwide, emphasizing sectors such as artificial intelligence (AI), energy efficiency, automation, climate technology, and quantum computing. The fund's objective is to support companies developing disruptive technologies that align with Bosch's mission to deliver innovation driving sustainable growth and long-term value. Since its establishment in 2007, Bosch Ventures has built a global presence with offices in key technology hubs, including Germany (Stuttgart, Frankfurt), the United States (Boston, Sunnyvale), Israel (Tel Aviv), and China (Shanghai). This global footprint enables the firm to identify and support startups with the potential to transform industries. To date, Bosch Ventures has made over 100 investments in key deep-tech areas, including AI, automation, energy efficiency, semiconductors, and mobility. Beyond capital, Bosch Ventures offers startups access to Bosch's business units through the Open Bosch program, supporting product development and market entry. This initiative fosters co-innovation by connecting startups directly with Bosch’s operating units, offering a unique platform for commercialization and scale. The fund's launch reinforces Bosch's commitment to innovation, even amidst economic uncertainties, by promoting technological progress in business and society.

The SOSV V fund is focused on deep tech startups in human and planetary health, with a focus on decarbonization and re-industrialization. The fund will invest in startups in the health sector, ranging from therapeutics to medical devices, as well as companies working on climate change solutions. SOSV operates startup program facilities in New York City, Newark, and San Francisco, supporting about 80 startups per year. The fund's limited partners include corporates, sovereign wealth funds, institutional investors, and private family offices around the world. The fund closed at $306 million on April 16th, 2024. SOSV invests starting at the pre-seed stage and continues through series seed, A, and later stages, resulting in about 200 investments per year. The fund tracks top portfolio startups in its annual Climate Tech 100 and Human Health 100 lists, which include companies working on climate solutions and health-related technologies. The fund also invests in facilities and equipment to help deep tech founders develop and de-risk their technologies. It operates in 40 countries and has founders representing 75 nationalities. The portfolio includes startups with 33% of companies having at least one female founder. The fund partners with other co-investors and has received support from venture firms and early-stage investors who have contributed to the successful launch of startups. The fund's emphasis on decarbonization and re-industrialization highlights its commitment to addressing climate change and creating positive change for humanity. The fund aims to bring power and expertise to the fight against climate-driven issues and loss of life.

SevenGen Growth Fund is a newly launched growth‑capital vehicle anchored by institutional and development‑backers to support Northwest European companies that are advancing the climate transition. It deploys capital into profitable or near‑profitable businesses in sectors such as energy transition, decarbonising industry, circular materials, sustainable mobility and the built environment. The fund capitalises on the momentum of Europe’s climate‑finance ecosystem and addresses a common gap between early‑stage innovation and global scaling by providing meaningful growth financing to companies with established business models but ambitious scaling plans. With initial commitments of roughly €65 m and a target final close of about €150 m in 2026, the fund will invest in selected growth companies—typically via investment tickets in the €5 m to €15 m range—that are founded or headquartered in Northwest Europe, with a mandate for measurable climate impact alongside strong financial returns. SevenGen brings a disciplined private equity approach, a focus on governance and impact measurement (as an SFDR Article 9 fund), and a team with prior climate‑finance experience to unlock value in companies that can convert European climate‑tech innovation into industrial leadership and mainstream adoption of sustainable solutions.

TDK Ventures Fund 3 is a $150 million venture capital fund launched in April 2025 by TDK Corporation's corporate venture-capital subsidiary, TDK Ventures, Inc. The fund focuses on investing in early-stage deeptech startups that are poised to drive significant advancements in technology and sustainability. Building upon the success of its previous funds, Fund 3 aims to catalyze the next generation of iconic companies by providing not only capital but also strategic support through TDK's extensive global network. This includes access to TDK's R&D, manufacturing capabilities, and market channels, enabling startups to scale efficiently and effectively. Fund 3 continues TDK Ventures' mission to invest in transformative technologies that align with global megatrends, contributing to TDK's long-term vision of sustainable growth and innovation.

Building on the success of its predecessors, TPG Rise Fund IV aims to invest in growth-stage, high-potential, mission-driven companies that align with the United Nations Sustainable Development Goals (UN SDGs). The fund focuses on sectors where positive impact and financial performance are intrinsically linked. Utilizing the proprietary Impact Multiple of Money (IMM) framework developed by Y Analytics, TPG Rise Fund IV seeks to quantify the social and environmental impact of its investments. This methodology ensures that each investment delivers measurable outcomes, such as increased access to education, healthcare, and financial services, or significant reductions in greenhouse gas emissions. The fund is expected to continue TPG's strategy of partnering with companies that offer scalable solutions to global challenges, leveraging the firm's deep sector knowledge, operational resources, and global experience to drive value creation and help companies reach their full potential.

Vireo Electrification Fund I is an early‑stage venture capital fund managed by Vireo Ventures, headquartered in Berlin, Germany. Its mission is to accelerate Europe’s transition to an electrified future by backing startups that help decarbonize energy systems, mobility, and infrastructure. The fund closed at €50 million, attracting LPs including energy utilities, corporates, and institutional investors. The fund invests primarily at the seed and pre‑seed/early stages in companies offering hardware‑enabled or software‑enabled solutions across the electrification value chain. Key focus areas include grid intelligence, heat decarbonization, electric mobility infrastructure, energy storage, and smart infrastructure in real estate and industry. Vireo’s model emphasizes close collaboration with its limited partners (LPs), many of which are utilities or energy incumbents, to facilitate pilot projects, scaling, and operational integration for portfolio companies. Rather than being passive backers, LPs contribute industry expertise and connections, helping portfolio companies move more quickly from prototype toward commercial deployment. Geographically, the fund focuses on European startups, although exposure outside Europe is evaluated selectively. Vireo seeks companies with meaningful European presence, whether through operations, customers, or regulatory exposure. Its investments are drawn from a mix of hardware and software, with a strong lean toward solutions that can scale and contribute significantly to decarbonization paths for energy, mobility, heating, and industrial systems.

The Wellington Climate Innovation Fund seeks to invest in private companies developing solutions to help mitigate and adapt to climate change. The Fund targets late-venture and early-growth companies that are developing tech-enabled solutions such as software, software-enabled hardware, sensors, AI, data and analytics. These solutions are focused on areas including energy transition, sustainable buildings and cities, transportation and mobility, industrial automation, enterprise digitization, sustainable consumer, and food and agriculture innovation. The fund is located in Boston, Massachusetts. The Fund’s client base is broadly diversified and includes sovereign wealth funds, pensions, insurance companies, banks, family offices, and high-net-worth individuals. The Fund seeks to generate attractive returns for its investors while addressing the existential threat of climate change. The fund closed with US$385 million in commitments. The Fund is managed by Greg Wasserman and the CIF investment team, who have extensive experience investing in climate solutions. The team leverages Wellington’s broader investment, research, and sustainability capabilities in public and private markets, along with a research collaboration with leading climate change research institute, Woodwell Climate Research Center.