World Fund launches €300M record-breaking fund for climate founders
- Fund Size : Berlin-based World Fund will provide €300M to climate tech founders over the next few years.
- Investment Focus : The fund will make 25-30 investments into European startups building technologies with the potential to decarbonize entire industries.
- Support Priority : World Fund aims to assist startups in overcoming the Series B "Valley of Death" associated with the energy sector.
- Sector Challenges : Climate tech's commercial and regulatory norms are still evolving, leading to funding gaps for first-of-its-kind technologies.
- Investment Strategy : World Fund plans to lead financing rounds and reserve capital for follow-on investments for companies in its portfolio.
- Backers : Notable backers for the fund include EIF, KfW Capital, Wachstumsfonds, BPI France, PwC Germany, NRWbank, Ignitis Group, and pension funds, along with independent search engine Ecosia.
Source: Tech.eu
