World Fund raises another 50 million euros

Climate tech venture capitalist World Fund raises over €50 million with new partners such as KfW Capital and Ignitis Group. Positive signs for the European climate tech market despite declining investments.

Berlin - Berlin-based climate tech venture capitalist World Fund has raised over €50 million in new capital from new limited partners in recent months. These new limited partners are KfW Capital, a subsidiary of KfW, the Lithuanian energy supplier Ignitis Group and a German reinsurance company.

Investments in climate tech in Europe have recently declined, as reported by market researchers. In the first quarter of 2023, USD 4.4 billion flowed into European climate tech companies, which corresponds to a decline of 57.6% compared to the previous year. World Fund stands out positively in this respect, and investors appreciate the company's portfolio and performance.

"We see this as a strong signal for climate tech in Europe, especially against the backdrop of the general decline in venture capital. One of the main aspects that has attracted investors is our portfolio and in particular its performance in these times.

Daria Saharova, Partner at World Fund

Daria Saharova, Partner at World Fund, emphasizes the importance of diversifying the limited partners, which include institutional investors, family offices and entrepreneurial capital. This has aroused the interest of investors.

Ignitis Group aims to create a 100 percent green and secure energy ecosystem in Lithuania and the Baltic States. It has decided to invest in Climate Tech to support its zero-emission goal. However, financial support for the climate tech sector still falls far short of the required amounts. According to a white paper by the World Fund, the volume of financing needs to be increased by at least 590 percent to 4.35 trillion dollars annually for Europe to achieve its climate targets.

We are convinced that this asset class is crucial for the energy sector to achieve the EU's climate targets and our own strategic goals, as well as to maintain a competitive advantage.

Darius Maikštėnas, CEO Ignitis Group

The World Fund invests from seed to Series B in startups whose technologies have a high decarbonization potential. The fund is a founding partner of the Venture Capital Climate Alliance VCA.

Previous limited partners of the World Fund include the European Investment Fund (EIF), the UK Environment Agency Pension Fund (EAPF), PwC Germany, the German green search engine company Ecosia and entrepreneurs such as the entrepreneurial couple Pausder, Trivago founder Rolf Schrömgens and footballer Mario Götze. The World Fund and its partners are committed to promoting technologies that contribute to decarbonization and enable a more sustainable world.