April 24, 2024

Berlin-based World Fund has crammed its coffers with €300M, in what it claims to be the most important first-time fund raised by any local weather tech VC in European historical past. 

Based in 2021, World Fund invests in startups constructing tech to decarbonise industries from vitality and buildings to move and agriculture. It has already backed 15 early-stage corporations, together with SpaceForge, which manufactures supplies in orbit, and Slovenian startup Juicy Marbles, which makes faux meat entire cuts. 

“We search for founders constructing corporations and applied sciences with the potential to scale, ship vital cuts in CO2 emissions, and energy systemic change,” Danijel Visevic, managing accomplice at World Fund, advised TNW.   

Securing money has been particularly powerful the final 12 months or so, amid one among history’s largest downturns in VC funding. This has pushed many promising startups off the sting.  

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World Fund seems to be to bridge the hole by specializing in the bigger sums startups must scale. Investing in local weather tech ought to give it a head begin — the sector stays probably the most resilient regardless of muted VC exercise. 

“We’re on a mission to make sure that the most effective of European local weather techs don’t fail as a result of dearth of funding past the earliest phases — that notorious ‘Collection B valley of death’ that has plagued European corporations for too lengthy,” stated ViÅ¡ević.

World Fund will use the recent capital to make new investments in over 25 European local weather tech and deep tech startups. This week, it co-led a €25mn founding spherical in UK-based Mission Zero, which builds energy-efficient carbon seize machines. 

The sheer dimension of its first fund places the VC in good stead to supply a major runway for these budding corporations, it stated. 

World Fund managed to boost a lot cash partly due to what it calls the “institutionalisation” of local weather tech — in different phrases, that the sector is maturing. 

A lot of World Fund’s new backers had by no means invested in first-time VC funds. These embody the UK Surroundings Company Pension Fund and British accounting big PwC.

“Our local weather is at a pivotal juncture and institutional traders, like many individuals and organisations worldwide, are more and more conscious of the pressing must take motion and put money into the applied sciences that can ship a regenerative world,” stated Višević.  

World Fund was based in 2021 by Daria Saharova, Danijel Višević, Tim Schumacher, and Craig Douglas. It has places of work in Berlin, Munich, Cologne, and Amsterdam.