Climentum Capital Launches Fund II with €60 Million First Close

The fund will invest in European climate HardTech companies that are working to improve industrial resilience, sustainability, and competitiveness across Europe.

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The European Investment Fund (EIF) has committed €40 million, while Denmark's Export and Investment Fund (EIFO) has invested €15 million. The Danish Society of Engineers (IDA) has also committed €5 million to the fund.

“The fundraising environment for early-stage climate HardTech 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,” says Morten Halborg, General Partner at Climentum Capital.

“Europe has excellent research and business ideas,” adds EIF Deputy Chief Executive Merete Clausen. “To build on these, it needs investors willing to back companies developing the industrial technologies that will shape the next generation of clean growth. Climentum Capital Fund II addresses an important financing gap by supporting entrepreneurs building climate solutions for the real economy.”

“EIFO’s mission is to accelerate the green transition while strengthening Europe’s strategic independence,” says EIFO Chief Investment Officer Erik Balck Sørensen. “Through our investment in Climentum Capital Fund II, we are helping to scale critical, yet significantly underfunded, climate technologies that are essential to reducing carbon emissions across European industry and achieving Europe’s climate ambitions.”

“We cannot keep talking. We need to turn words into action. Europe needs more competitive technology companies, and Denmark has the ideas, the talent and the research to build them. I see this potential every day among our members. It is unusual for a trade union to become an investor, but I hope IDA can lead by example and inspire others to follow,” said IDA President Laura Klitgaard.

Founded in 2022, Climentum Capital invests in HardTech companies that develop technologies to reduce carbon emissions. These companies focus on industries that produce a large share of Europe's greenhouse gas emissions, helping make them more sustainable.