In a heating world, the climate tech venture capital scene is also heating up. In 2021 alone, $37B of venture capital was invested into climate tech companies globally. In this guide, I ranked and reviewed the top 5 climate tech VCs in 2022.
- InnoEnergy – Funded by the EU itself
- Breakthrough Energy Ventures – High-profile founders
- Climate Pledge Fund – Founded by Jeff Bezos
- Norrsken VC – Invests in multiple sectors
- Clean Energy Ventures – Good for early stage ventures
Climate tech is a noble industry, but it is also ultra capital-intensive. Huge amounts of money are needed to support the research and development (R&D) and go-to-market of new climate tech breakthroughs.
Luckily, VCs are ready to support these moonshot innovations which, if succeed, will yield incredible returns.
What are the Top 5 Climate Tech VCs in 2022?
My top picks are InnoEnergy, Breakthrough Energy Ventures, The Climate Pledge Fund, Norrsken VC and Clean Energy Ventures.
1. InnoEnergy
Funded by the EU Itself.
InnoEnergy is one of the eight Innovation Communities under the European Institute of Innovation and Technology (EIT), and pioneers change in sustainable energy.
Based in the Netherlands, InnoEnergy has invested over EUR 690 million into more than 500 innovations and more than 100 investments into sustainable energy startups.
Based in:
Europe
Investment Stage:
- Early Stage Venture
- Seed
Focus:
- Sustainable Energy
If you are a sustainable energy startup, ask them if they can fund you.
2. Breakthrough Energy Ventures
High Profile Founders.
Breakthrough Energy Ventures is founded by Bill Gates in 2015. Its aim is “to accelerate innovation in sustainable energy and in other technologies to reduce greenhouse gas emissions”. Its founders include other high-profile names like Jack Ma, Jeff Bezos, John Doerr and Vinod Khosla.
Based in the US, BEV has made over 100 investments into startups that tackle climate change.
Based in:
USA
Investment Stage:
- All Stages
Focus:
- Sustainable Energy
If you are a sustainable energy startup, ask them if they can fund you.
3. Climate Pledge Fund
Founded by Jeff Bezos.
The Climate Pledge Fund is a sub-organization of Amazon that invests in companies that can accelerate Amazon’s path to meeting The Climate Pledge.
Funded with an initial $2 billion, the Climate Pledge Fund invests in startups across multiple sectors like transport and logistics, energy generation, storage and utilization, buildings, manufacturing and materials, circular economy and food and agriculture.
Based in:
USA
Investment Stage:
- All Stages
Focus:
- Transport and Logistics
- Energy Generation, Storage and Utilization
- Buildings
- Manufacturing and Materials
- Circular Economy
- Food and Agriculture
Visit their website for more information.
4. Norrsken VC
Invests in Multiple Sectors.
Based in Sweden, Norrsken VC is a “venture capital fund investing in startups solving the world’s greatest challenges while building massive businesses”.
Since its inception in 2017, Norrsken VC has made over 40 investments into various early stage startups.
Based in:
Sweden
Investment Stage:
- Pre-Seed
- Seed
- Series A
Focus:
- Food Waste Reduction
- Electrification
- Energy Efficiency
- Sustainable Farming
Visit their website for more information.
5. Clean Energy Ventures
Good for Early Stage Ventures.
Based in the US, Clean Energy Ventures (CEV) invests in early-stage climate tech startups in North America, Europe and Israel. CEV claims that every climate tech startup that they invest can mitigate 2.5 gigatons of carbon dioxide by 2050.
Since being founded in 2017, CEV has made 40 investments.
Based in:
USA
Investment Stage:
- Early Stage Venture
Focus:
- Sustainable Energy
If you are a sustainable energy startup, ask them if they can fund you.
Summary
The path to net zero is a long and difficult one. We need more bold investors to take up the challenge and fund entrepreneurs and engineers who are working to solve the world’s biggest problems.