Green Mobility

Alantra Klima Energy Fund II (Klima2) is a growth-stage energy transition fund managed by Alantra, the Madrid-based international investment bank and alternative asset manager. Classified as an SFDR Article 9 fund—the highest sustainable finance classification under EU regulations—Klima2 deploys equity tickets of €10 million to €30 million into established European businesses with proven technologies and measurable positive environmental outcomes, targeting a portfolio of approximately twelve companies across the continent. The European Investment Fund (EIF) committed €70 million to the vehicle in late 2025, providing significant institutional validation for the fund's strategy. The fund's investment mandate spans five critical pillars of Europe's energy transition: clean energy generation and storage, energy markets and trading platforms, grid and storage infrastructure, energy efficiency technologies, and sustainable transport. Klima2 targets businesses where technological de-risking has already occurred—portfolio candidates have demonstrated product-market fit, recurring revenues and strong growth potential—and where growth capital is needed to scale commercially across European markets. Portfolio companies receive board representation, commercial partner introductions and follow-on capacity throughout the fund's life. Klima2 builds on the strong track record of its predecessor, the original Klima Energy Transition Fund, which raised €210 million and backed growth-stage companies including Dexter Energy (€23 million Series C led by Klima) and marine electrification company Echandia (€19.6 million). Alantra's energy transition platform combines sector expertise with a pan-European deal-sourcing network, aiming to generate both financial returns and verifiable carbon reduction outcomes aligned with the EU's net-zero targets.

Axeleo Capital Green Tech Industry I is the debut climate and industrial technology fund raised by Axeleo Capital, an independent French venture capital manager that has expanded its platform from B2B enterprise software into the green economy. The fund represents Axeleo Capital's strategic entry into deep industrial technology, targeting European startups at the critical transition from laboratory to first commercial factory, addressing the capital gap between research grants and scaled manufacturing investment. The fund focuses on financing the first commercial factories of European industrial startups dedicated to the ecological transition, investing across four impact-driven verticals: energy technologies including novel renewable energy sources and storage systems; chemistry and advanced materials including biomaterials and plastics recycling; agriculture and food systems including bio-based fertilizers, pesticides, and food innovation; and sustainable mobility including electric motor technologies and decarbonization of air and sea transportation. Axeleo targets 15 to 20 investments across Europe with lead ticket sizes ranging from EUR 3 million to EUR 10 million, focusing on founders with proprietary technology and a credible path to scaled industrial production. Axeleo Capital Green Tech Industry I announced a first close at EUR 125 million in November 2024 against a total target of EUR 250 million. Anchor commitments came from the Révolution Environnementale et Solidaire fund (Crédit Mutuel Alliance Fédérale), Bpifrance via the Fonds National de Venture Industriel as part of France's Plan France 2030 industrial policy, and the Veolia environmental services group. The fund is actively fundraising toward its EUR 250 million target, making it one of the largest dedicated industrial climate tech vehicles raised in France.

Axeleo Green Tech Industry I (GTI I) is a venture capital fund dedicated to backing industrial deep-tech startups at the forefront of Europe's ecological transition. Managed by Paris-based Axeleo Capital, the fund reached a first close of €125 million in November 2024, against a target of €250 million, and has been awarded the Tibi label — France's national recognition for funds backing technology innovation — in acknowledgment of its contribution to a sustainable European industrial ecosystem. GTI I focuses on post-research-and-development companies preparing to launch their first production facilities and initial commercialization phases. The fund targets four core sectors of the green economy: Energy, including renewable energy production and storage systems; Chemicals and Materials, covering biomaterials and plastics recycling; Agriculture and Food, addressing bio-based fertilizers, pesticides, and food innovation; and Mobility, supporting electric motors and the decarbonization of aviation and maritime transport. The fund plans to make 15 to 20 lead investments across Europe, with ticket sizes ranging from €3 million to €10 million per company. The initial LP base includes Bpifrance, Veolia Group, and Crédit Mutuel as anchor institutional and industrial partners, complemented by Axeleo Capital's network of strategic investors aligned with the green transition. The first portfolio company announced was Sweetch Energy, a French pioneer in osmotic renewable energy generation. GTI I represents Axeleo Capital's largest fund to date and builds on the firm's established track record as a specialist backer of deep-tech and industrial innovation startups in France and across Europe.

Blume Equity Fund I SCSp is a European climate-tech growth equity fund managed by Blume Equity, a female-led investment firm structured as a Société en Commandite Spéciale (SCSp) under Luxembourg law. The fund is targeting a final close of €200 million and has been recognized as a finalist for the European VC Newcomer of the Year award, reflecting its differentiated positioning in the European impact investing landscape. Blume Equity's founding partners bring more than 40 years of combined investment and sustainability experience from blue-chip financial institutions and climate-focused organizations. Blume Equity Fund I focuses on growth-stage companies developing solutions that drive meaningful, measurable sustainability outcomes for both the planet and society. The fund makes €10 million to €40 million investments in climate-tech businesses at the Series B stage and later, targeting companies that have demonstrated commercial traction and are ready to scale across European markets. Key investment themes include renewable energy technology, industrial decarbonization, circular economy, sustainable mobility, and resource efficiency. The fund is supported by institutional investors including ABN AMRO as a notable LP, reflecting the growing appetite among European banks for climate impact strategies at scale. Blume Equity Fund I has been selected for Access to EU Finance, the European Commission's initiative supporting innovative SMEs and mid-caps, and is classified as an impact-focused fund eligible for EU impact assessment. The fund's positioning at the Series B stage bridges the gap between early climate-tech risk capital and later-stage infrastructure finance, targeting a segment where growth capital scarcity has historically constrained climate solution deployment. Luxembourg's SCSp structure provides the regulatory framework for pan-European LP participation while maintaining flexible governance aligned with impact measurement requirements.

Cathay Innovation Fund III is a €1 billion global venture capital fund launched by Cathay Innovation to invest in startups driving the sustainable transformation of industries and society. The fund focuses on application-layer AI companies across sectors such as digital health, fintech, consumer applications, and energy/mobility. It targets Series A to late-stage startups, with investment amounts ranging from €5 million to €80 million. Fund III is backed by institutional investors and multinational corporations, including Sanofi, TotalEnergies, and BNP Paribas Cardif. The fund aims to support companies that are accelerating the sustainable transformation of industries and society through next-generation technologies, business models, and platforms. Cathay Innovation leverages its global investment platform and extensive corporate ecosystem to provide startups with access to new markets and strategic partnerships. The fund integrates sustainability into every step of the investment cycle to measure, track, and maximize the impact of startups while helping entrepreneurs build more responsible, resilient businesses. Cathay Innovation has a strong investment track record, having backed over 120 early-stage startups across Europe, Asia, and North America. Of these, 19 have become unicorns, including Chime Bank, Wallbox, Ledger, and Glovo. Fund III continues this legacy by investing in companies with high growth potential and the capacity to expand internationally, aiming to empower businesses to lead the large markets of the future.

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.

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.

Eurazeo Smart City Fund II is a dedicated venture capital fund managed by Eurazeo, the Paris-headquartered global investment group with over €39 billion in assets under management across private equity, growth, venture, real estate, infrastructure, and private debt strategies. The fund held its final and third close on 18 July 2023 at €400 million — one of Europe's largest dedicated smart city and climate technology funds of its vintage. It succeeds Eurazeo's first Smart City Fund, a 2016 vintage that generated five exits — Volta Charging, Bird, Forsee Power, Glovo, and Grab — demonstrating the strength of the thesis and anchoring LP confidence in the platform. The fund invests in high-growth technology companies building scalable solutions for sustainable cities. Target themes span renewable energy generation and distribution, advanced electric mobility, climate-smart manufacturing, sustainable logistics, and built environment technologies with verifiable carbon-reduction impact. Investment tickets range from €3 million to €40 million per company, with a target portfolio of 20–25 companies deployed over a four-year investment period. The fund's impact framework monitors carbon savings and removal through operational KPIs aligned with five-year environmental objectives, appealing to both financial and sustainability-focused limited partners. The fund's LP base of 23 institutional investors reflects exceptionally broad geographic and institutional diversity. Sovereign wealth funds and development finance institutions — the European Investment Fund (EIF), Bpifrance, PFR, FRC, and the Korean Venture Investment Corporation (KVIC) — anchor the capital base. Eighteen strategic corporations from Europe and Asia co-invest alongside them, including EDF, TotalEnergies, Stellantis, Hager Group, ZF, RATP, Mainova, SP Group, Banpu, and Jardine Pacific, providing both capital and unique market access for portfolio companies. A select group of family offices rounds out the LP roster.

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.

Golding Infrastructure Co-Investment 2023 is the third-generation dedicated infrastructure co-investment vehicle launched by Golding Capital Partners, targeting direct equity co-investments alongside leading infrastructure general partners in Europe and North America. The fund held its first close at approximately €212 million in 2023—representing over one-third of its €600 million target volume—and has already commenced capital deployment, with approximately 30% of committed capital called following the first investment. The fund focuses on core-plus and value-add infrastructure assets structured around four structural global megatrends: electromobility and charging infrastructure, renewable energies and the energy transition, sustainable transport and logistics, and the circular economy. Classified as an Article 8 product under the EU Sustainable Finance Disclosure Regulation (SFDR), the fund incorporates ESG criteria across the portfolio and aligns with the UN Sustainable Development Goals. The geographic allocation targets Europe as the primary market (minimum 50%), with up to 40% in North America and up to 20% in other markets. Approximately 15 co-investments are planned for the final portfolio. Golding Capital Partners manages the fund from Munich, drawing on decades of infrastructure co-investment experience across a proprietary network of leading infrastructure GPs. The fund targets a net return of 10 to 11 percent per year with a planned fund life of 15 years plus one optional extension year. Over 20% of capital in the first close came from new investors to Golding, reflecting strong institutional demand for the third infrastructure co-investment strategy. Minimum commitment is €10 million.

HIKE Capital (山行资本, pronounced Shānxíng Zīběn) is an independent early-stage and growth-stage venture capital firm founded in December 2015 by Yang Haoyong and Xu Shi, two of China's most successful technology entrepreneurs. Yang Haoyong co-founded Ganji.com (赶集网), one of China's earliest classified advertisement platforms, and later founded CARS Group (车好多), which went public on the Nasdaq. Xu Shi founded the NetEase News App, China's leading personalized news aggregation product. HIKE Capital operates as a founders' fund in the truest sense — built by founders, for founders — and maintains headquarters in Beijing's Chaoyang District. HIKE Capital employs a dual-currency investment strategy, deploying both USD and RMB vehicles to maximise access to the full spectrum of Chinese technology investing. The firm focuses on three primary sector pillars: transportation and new energy (a natural extension of the founders' deep expertise in automotive marketplaces and mobility), new consumer goods (consumer brands benefiting from China's growing middle-class spending power), and digital intelligence (companies at the intersection of AI, data, and enterprise software). HIKE Capital typically invests at the early stage with a demonstrated ability to support companies through growth to pre-IPO rounds, including IPOs on US and Hong Kong exchanges. HIKE Capital's portfolio includes several highly visible outcomes that validate its founders' advantage in identifying category-defining companies. Li Auto (NASDAQ: LI, HK: 2015) — China's leading extended-range electric vehicle manufacturer — became one of the most valuable EV companies globally. RLX Technology (NYSE: RLX), China's dominant electronic cigarette brand, delivered a successful US IPO. Guazi Used Cars (车好多旗下瓜子二手车), a direct spinout of Yang Haoyong's CARS ecosystem, became China's largest used car platform. Fenbi (粉笔), China's leading vocational and civil-service examination prep platform, IPO'd in Hong Kong in 2022. These exits collectively demonstrate HIKE Capital's ability to back companies from early-stage conviction to public market liquidity.

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.

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 Meridiam Green Impact Growth Fund (GIGF) is a EUR 300 million private equity growth fund dedicated to financing European small and medium-sized enterprises driving the transition to a low-carbon, sustainable economy. Classified as SFDR Article 9, the highest sustainability designation under European regulation, the fund was launched by Meridiam SAS, a global infrastructure and impact investment firm headquartered in Paris with over EUR 20 billion in assets under management across more than 100 projects in over 25 countries. The fund's investment mandate focuses on four sustainability themes: energy transition covering clean energy production, storage, and efficiency; clean mobility including electric vehicles, shared transport, and logistics decarbonization; circular economy encompassing waste reduction, material recovery, and sustainable packaging; and sustainable cities addressing smart urban systems, low-carbon real estate, and digital public services. Unlike Meridiam's traditional infrastructure funds, which target long-duration public infrastructure concessions, GIGF pursues growth equity investments in SMEs with proven business models that require capital to scale their sustainable technologies and services across Europe. The European Investment Bank committed EUR 75 million to the fund as anchor investor, validating GIGF's alignment with EU climate finance objectives. The fund has made six investments since its 2021 vintage year, deploying capital across companies operating at the intersection of sustainability innovation and commercial scalability. GIGF represents Meridiam's strategic expansion from infrastructure project finance into growth-stage impact investing, leveraging the firm's deep expertise in sustainable asset development.

The Meridiam Urban Resilience Fund B (TURF B), formally structured as The Urban Resilience Fund B International Municipal Investment Fund SCSp, is a Luxembourg-domiciled blended finance infrastructure fund dedicated to financing sustainable urban development in rapidly growing cities across Africa and the Middle East. The fund was co-developed by Meridiam and The Rockefeller Foundation, with UNCDF (United Nations Capital Development Fund) serving as a strategic partner. Operating under a layered capital structure designed to attract catalytic, development finance, and institutional capital, TURF B targets investments in urban mobility, renewable energy infrastructure, smart city systems, and waste management in high-growth cities including Abidjan, Addis Ababa, Amman, Dakar, Kigali, Kumasi, and Mazagan. The fund aims to deploy at least 85 percent of its capital as climate finance, aligning with the Luxembourg-EIB Climate Finance Platform and European development finance objectives. Confirmed institutional investors include the European Investment Bank (EUR 50 million), British International Investment (EUR 20 million, committed March 2023), and Norfund (NOK 235 million, approximately USD 20.6 million). TURF B is positioned as a vehicle for development finance institutions and institutional investors seeking sustainable infrastructure returns in emerging markets, while addressing critical infrastructure gaps in some of the world's fastest-growing urban environments. Meridiam manages this fund as part of its broader impact and emerging markets infrastructure platform.

1GT is a climate-focused private equity fund managed by Morgan Stanley Investment Management (MSIM), one of the world's leading alternative investment managers with over $240 billion in alternative assets under management. Launched in 2022 under MSIM's alternatives platform, 1GT takes its name from its defining mission: to collectively avoid or remove one gigaton of carbon dioxide-equivalent (CO2e) emissions from the Earth's atmosphere from the date of investment through 2050. The fund held its first close in May 2023 at $500 million and reached a final close in September 2024 at $750 million in equity capital commitments, drawing institutional support from leading investors in Europe, Japan and North America. 1GT targets growth-oriented investments in private companies across North America and Europe that operate in five climate-critical sectors: clean mobility, power, sustainable food and agriculture, and the circular economy. The fund is structured as a growth equity vehicle, partnering with expansion-stage companies at the point where meaningful scale can deliver both outsized emissions impact and superior financial returns. A unique feature of 1GT's incentive structure is that half of the investment team's carried interest is directly tied to achieving the one-gigaton carbon-reduction target by 2050, aligning the team's compensation with climate outcomes rather than financial performance alone. MSIM leverages its global platform and corporate relationships to support portfolio companies in pursuing earnings growth, multiple expansion, and enhanced exit potential. Since launch, 1GT has deployed capital across a growing portfolio of climate-positive businesses. Notable investments include Instagrid, a German manufacturer of high-performance portable battery systems enabling the electrification of construction worksites; Huel, the UK-based sustainable nutrition brand producing complete foods with a significantly lower carbon footprint than conventional diets; and Everstream Analytics, a supply chain intelligence platform that helps multinational corporations reduce emissions through optimized routing and responsible sourcing. These investments demonstrate 1GT's core thesis: that disciplined financial underwriting and measurable climate impact are mutually reinforcing objectives that, when properly structured, produce superior risk-adjusted returns.