€300M Climate Fund Seeks Follow-On and Supports Hardware: World Fund’s Inaugural Closure
If you’re looking for comparisons, Norrsken VC is a $130 million impact VC that covers climate, while Demeter Partners last raised a €250 million fund focused on climate.
World Fund is also backed by pension funds including the UK Environment Agency Pension Fund, Wiltshire Pension Fund, and Croatia’s Erste Plavi.
World Fund has completed its raise during a war in Europe, interest rate rises, and jittery LPs.
In 2023 there was over $20 billion raised by European climate tech startups, almost matching the previous year, and bucking declining trends in other sectors, according to Dealroom.
The U.K., Sweden and Germany led for total climate tech VC in 2023 but Iceland, Lithuania and Bulgaria showed notable growth.
