French climate-focused VC SlateVC secures €132M first close for its debut growth fund

The fund’s investors include the European Investment Fund (EIF), Bpifrance, the Fonds National de Venture Industriel (FNVI) managed by Bpifrance and backed by the French government’s France 2030 initiative, as well as BNP Paribas.

“In a complex fundraising environment, this first close affirms a clear market signal: climate impact requires scale, and scale requires industry-leading competitiveness. We are looking to back European B2B companies where environmental performance drives superior unit economics, specifically in energy transition, low-carbon industrial processes, and circularity,” said Slate VC in a public statement.

Activity across 2025 and early 2026 highlights continued capital formation in European climate, energy transition, and circular-economy investment strategies, setting the stage for Slate Venture Capital’s inaugural growth fund first close.

In Northern Europe, Copenhagen-based Footprint Fund I (€76 million) launched an early-stage vehicle targeting climate and DeepTech companies across the region, while Munich’s Ananda Impact Ventures (€73 million first close) maintained its impact-driven approach with a strong focus on climate solutions.

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At the growth and scale-up end, London-based 2150 Fund II (€210 million) raised a fund for urban systems, energy, and industrial decarbonisation, while Barcelona’s SC Net Zero Ventures I (€210 million) targeted scale-up capital for industrial climate technologies.

Meanwhile, the Netherlands saw continued activity from Rubio Impact Ventures Fund III (€70 million) and Amsterdam-based CapitalT Fund II (€50 million first close), both supporting climate-aligned innovation, while the UK’s Clean Growth Fund II (€56.8 million first close) reinforced investor interest in energy, circular economy, and built-environment technologies.

Taken together with Slate Venture Capital’s raise in France, these funds represent roughly €900 million to €1 billion in disclosed capital committed to climate- and transition-focused venture strategies during this period, underscoring sustained institutional support for scalable business models where environmental performance drives economic returns.

Founded in 2023, SlateVC is an independent pan-European investment firm regulated by the French financial markets authority (AMF). The firm invests in European B2B companies developing technologies that accelerate the climate transition.

SlateVC’s first close comes amid what the firm describes as a slowdown in venture fundraising and a reassessment of climate strategies, with investors prioritising business models that deliver clear economic returns alongside measurable impact.

The firm is led by four partners with deep experience in entrepreneurship, venture capital, and industrial strategy, collectively completing over 150 venture investments. The founders are:

• Clément Buyse, co-founder of PeopleDoc (acquired by UKG) and former Vice-President of France Digitale
• Chloé Giard, former investor at IdInvest and Eurazeo
• Sébastien Léger, former Partner at McKinsey, where he led the Energy and Climate practices
• Renaud Visage, co-founder of Eventbrite (NYSE: EB) and former Venture Partner at Index Ventures and Point Nine Capital

SlateVC was created to support the market deployment and scaling of companies where environmental performance is driven by superior economics—through lower costs, improved productivity, and increased resilience for industrial customers.

The first fund invests in European B2B companies developing hardware, software, and AI solutions across:

• Energy transition
• Low-carbon industrial processes and materials
• Circularity and the resource economy
• Climate resilience

The fund aims to back 15 to 20 companies with strong commercial momentum that are ready for international expansion.

SlateVC has already completed two cornerstone investments reflecting its thesis in 2025. The fund co-led the Series B of Fairmat, a French industrial company producing recycled carbon-fiber composites for construction, automotive, and sports sectors, and led the Series B of Resourcify, a German AI-powered SaaS platform enabling global corporations to optimise circularity programmes worldwide.