Sustainability-focused venture capital fund Energy Impact Partners (EIP) announced the launch of its European Fund, its first outside North America, aimed at investing in climate tech companies accelerating the net zero transition.
Matthias Dill, CEO and Co-Managing Partner, EIP Europe, said:
“The energy transition is the most promising investment opportunity of our generation with a global estimated USD $9 trillion to be spent annually. A lot of this money will be spent on new climate-technologies. At EIP, we are deeply rooted in the energy-sector through our industrial coalition and our start-up portfolio. We use this central role to back the brightest founders in their efforts to build the most impactful businesses.”
The new fund will target growth and venture investments across Europe, seeking “mission-driven companies” across the energy transition spectrum, with established products, markets and customers.
EIP said that the fund is structured to enable the firm to partner with entrepreneurs, and support their growth with capital and commercial support, while also offering European companies with access to market expansion and exit opportunities in North America.
Hans Kobler, Founder & CEO of Energy Impact Partners, said:
“We are thrilled to now be able to partner with brilliant European entrepreneurs to help accelerate the innovations tackling climate change. Our model of collaboration across entrepreneurs, industrial partners, and our highly-experienced team should also make it easier for European technologies to access the North American market.”
The new fund launches with €390 million, raised from a broad range of institutional investors, impact investors and corporates including Microsoft’s Climate Innovation Fund, the Abu Dhabi Investment Authority (ADIA), EDF Pulse Ventures and Shell Ventures.
Nazo Moosa, Co-Managing Partner, EIP Europe, said:
“We experienced tremendous demand for climate tech as an investment theme among financial and corporate LPs. A key challenge for many of these companies is lack of access to larger, more scalable markets.”
Brandon Middaugh, Director of the Microsoft Climate Innovation Fund, added:
“Microsoft is committed to become carbon negative by 2030. As part of the company-wide efforts, the Microsoft Climate Innovation Fund selected EIP as its first fund investment in climate tech due to the shared vision of a digitized, decarbonized energy system of the future, which will be essential in the clean energy transition.”