The European Investment Fund (EIF) has committed €40 million to Climentum Capital Fund II, a Denmark-based venture capital fund focused on early-stage climate technology companies across Europe. The investment is part of a broader €60 million first close, supported by additional contributions from Denmark’s export and investment fund EIFO and the Danish Society of Engineers (IDA).
Climentum Capital Fund II is targeting a total fund size of €100 million and will primarily invest in Seed and Series A companies developing deep-tech and hardware-based climate solutions. These include innovations in energy, transport, agriculture, and industrial decarbonisation, with a geographic focus on Denmark, Sweden, Germany, Austria, and Switzerland.
The fund aims to fill a financing gap in Europe’s climate-tech ecosystem, where early-stage companies often struggle to secure long-term investment due to higher interest rates, uncertain exit conditions, and broader economic volatility. By supporting startups at an early stage, the initiative is expected to accelerate the development of technologies that can reduce emissions and improve industrial efficiency.
According to EIF, the investment supports the European Union’s climate neutrality goals for 2050 and strengthens efforts to reduce dependence on imported fossil fuels. The fund is also aligned with programs aimed at boosting energy security and supporting the transition to low-carbon industries.
Climentum Capital, founded in Copenhagen in 2022, focuses on backing companies with scalable solutions capable of delivering measurable climate impact. The firm estimates its portfolio could help reduce carbon emissions by around 1.5 million tonnes annually once fully deployed.
The initiative highlights growing collaboration between public institutions and private investors in Europe to scale climate innovation, while also addressing persistent challenges in funding early-stage green technology ventures.
