July 21, 2024
German climate tech VC raises ‘record-breaking’ €300M first fund

Berlin-based World Fund has filled its coffers with 300M, in what it claims to be the largest first-time fund raised by any climate tech VC in European history. 

Founded in 2021, World Fund invests in startups building tech to decarbonise industries from energy and buildings to transport and agriculture. It has already backed 15 early-stage companies, including SpaceForge, which manufactures materials in orbit, and Slovenian startup Juicy Marbles, which makes fake meat whole cuts

“We look for founders building companies and technologies with the potential to scale, deliver significant cuts in CO2 emissions, and power systemic change,” Danijel Visevic, managing partner at World Fund, told TNW.   

Securing cash has been especially tough the last year or so, amid one of history’s biggest downturns in VC funding. This has pushed many promising startups off the edge.  

World Fund looks to bridge the gap by focusing on the larger sums startups need to scale. Investing in climate tech should give it a head start — the sector remains one of the most resilient despite muted VC activity. 

“We are on a mission to ensure that the best of European climate techs do not fail due to the dearth of funding beyond the earliest stages — that infamous ‘Series B valley of death’ that has plagued European companies for too long,” said Višević.