Capvisory Insights
ClimateTech Startups
30+ handpicked ClimateTech VCs that actively invest in 2025
Capvisory, a specialized Berlin-based M&A boutique, advises tech companies on Seed, Series A, and Series B financing rounds, as well as guiding them through exit processes.
Gründer und Partner
Gründer und Partner
The ClimateTech and GreenTech ecosystem has experienced a remarkable rollercoaster ride in recent years – from the investment boom of 2021 and 2022 to the downturn in 2023.
In 2024, the global number of ClimateTech deals dropped again by 23%. At the same time, total funding volume (including non-dilutive capital such as venture debt) increased compared to 2023. The data suggests that while fewer companies are securing funding, those that do are raising significantly larger rounds.
In this article, we provide a concise overview of the current state of ClimateTech startup funding and present a curated list of over 30 active venture capital firms expected to invest in the space in 2025.
The data presented is based on the State of Climate Tech Report 2024 by Net Zero Insights, a ClimateTech market intelligence provider. The full report is available here: The State of Climate Tech 2024.
It is important to note that the report only includes publicly disclosed funding rounds. Some regions tend to be less transparent in reporting investment activity and deal volumes. As a result, China’s actual share of ClimateTech investment is likely higher than reported.
In addition to relying on leading market studies, Capvisory also collects its own proprietary data through the Capvisory Venture Capital Fund Tracker, which is updated monthly. A detailed analysis based on this data can be found further below.
2024: Europe surpasses the U.S. in ClimateTech funding for the first time
With a total funding volume of $38.88 billion (dilutive and non-dilutive), Europe saw a 45.1% year-over-year increase—significantly outpacing the U.S., which recorded $33.5 billion (+3.1% YoY). This lead is largely driven by substantial debt rounds, including $5 billion for Swedish battery manufacturer Northvolt, $4.75 billion for French battery maker ACC, and €1.1 billion for German heat pump and solar provider Enpal.
Despite the strong growth in total funding volume, the number of deals dropped sharply in both regions: down 24.1% in Europe and 20.8% in the U.S., pointing to a broader decline in deal activity. The number of active investors also fell—by 12.5% in Europe and 14.7% in the U.S.—indicating an increasingly selective and cautious investment environment.
Since 2020, the share of energy-related investments within the broader ClimateTech category has been steadily increasing. In 2024, the majority of capital flowed into battery technologies, solar energy, and hydrogen—clearly the current favorites among investors.
Close behind is green mobility, particularly investments in electric vehicles (EVs) and charging infrastructure. In Europe, for example, Bolt secured a €220 million debt financing round.
29 new ClimateTech funds launched in the past six months
On the equity side, our Capvisory Fund Tracker identified 29 newly launched ClimateTech funds (Venture Capital and Private Equity) over the past six months, raising a total of $37.08 billion. This signals continued optimism from Limited Partners (LPs) and a strong willingness to allocate capital to the ClimateTech space. Most of this capital is expected to be deployed into private companies over the next 12 to 36 months.
Of these 29 funds:
- 22 were venture capital funds, raising a combined $3.64 billion
- 7 were private equity funds, raising $33.43 billion
In total, the Capvisory Fund Tracker recorded 245 new funds during this period, meaning 11.84% of all newly closed funds had a dedicated ClimateTech focus — or roughly one in ten.
Important note: Our tracker focuses on funds that have officially closed capital (not just announced) and covers the USA, Canada, Japan, and the MENA region.
Venture capital investors actively backing ClimateTech startups in 2025
For European startups, ClimateTech was one of the fastest-growing sectors in 2024 — and the outlook for 2025 remains highly promising. That’s exactly where our list of 30+ active and carefully vetted ClimateTech investors comes in.
The list includes only venture capital firms with a clear focus on climate and sustainable energy technologies. Each firm has either made at least one relevant investment or launched a new climate-focused fund within the past 12 months (as of March 2025).
Seed and Series A stage VC, backing European software and hardware pioneers in climate tech.
VC and early growth equity firm focused on AI-powered solutions for the world’s energy and climate challenges.
Previously known as Climate Capital Bio, Juniper invests in frontier science tackling humanity’s sustainability challenges.
Asset manager Algebris has launched Algebris ClimaTech, a VC fund focused on climate and deep tech startups.
Japanese VC fund focusing on climate tech and decarbonization, investing in startups from around the world.
VC fund investing in European SMEs and scale-ups focused on clean energy and sustainable buildings.
Early-stage VC fund backing climate tech startups with potential to become the leading businesses of tomorrow.
VC fund that invests in climate tech companies from seed to Series A.
Aligned invests in Seed to Series B companies that are deploying and scaling proven clean energy and climate solutions.
The VC division of National Grid plc focuses on AI startups that work on solutions for the energy sector.
VC focused on energy transition & climate tech. They partner with early- and growth-stage start-ups in EU and NA.
Family Office that backs impact-driven founders tackling the climate, biodiversity & pollution crises at the early-stages.
VC fund supporting European climate tech startups that have a significant positive impact on our planet.
Impact investor focusing on growth-stage companies around three key impact themes: People, Planet, and Productivity.
Invest in early-stage startups that create a positive environmental or social impact. From seed through to Series B.
VC that invests in early-stage climate technology creating the foundation of a decarbonized global economy.
Early-stage climate impact VC fund focused on startups from Europe with initial investments between €1M and €4M.
Climate tech VC that invests in startups with significant emissions savings potential.
Impact VC fund with a pan-European investment remit and focus on pre-seed to series a stage
Invests in early-stage Green Tech and Food Tech startups to help build a resilient society within planetary boundaries.
VC focused on investing in emerging technologies that drive sustainable transformation across traditional industries.
European VC investing in pre-seed and seed GreenTech and B2B startups, with initial tickets from €100K to €1.5M.
Growth-stage VC focusing on European tech scale-ups with strong sustainability or ESG commitments, typically investing from Series B onward.
Climate-focused investor pursuing multiple strategies, backing early- to growth-stage ventures.
An investment firm that invests in sustainable solutions that power the energy transition.
European investor specializing in energy and ecological transitions, investing from €1M to €30M to back companies at every stage.
Nordic Alpha Partners is a Danish growth fund that invests in sustainable hard-tech companies.
Impact VC fund investing in early-stage ventures driving positive outcomes for climate and nature.
Climate tech fund investing in transformative solutions for the built environment, typically from Seed to Series A in Europe.
Early-stage impact investor from the Nordics supporting mission-driven startups tackling global challenges (climate, health, education) across Europe.
Early-stage climate-tech fund in Europe backing ventures with measurable CO₂ reductions across sectors like energy, agriculture, and industry.
Impact VC dedicated to investing in CleanTech solutions across energy, mobility, ag & food, and industrial sectors.
Early-stage fund focused on accelerating Europe’s energy transition, investing in next-generation climate, mobility, and energy solutions.
Conclusion
Raising capital for ClimateTech startups remains challenging — but the odds of finding the right investors in 2025 are better than ever. As the extensive list above shows, VC interest in climate-focused innovation is very much alive. For larger rounds, founders should also consider alternative financing options, such as venture debt, as part of a well-rounded funding strategy.
If you’re currently fundraising and looking for the right investor fit, feel free to reach out. At Capvisory, we not only support ClimateTech startups during fundraising and exit processes — we also provide fast, honest feedback on whether a VC round makes sense in your case, or whether another financing route might be more promising.
P.S. At Capvisory, we continuously track new funds to keep our internal database of 20,000+ global investors up to date — a key asset we use to secure the best possible outcomes for our fundraising clients.
If you’re interested in funds with fresh dry powder, take a look at our monthly Fund Tracker.
Capvisory, a specialized Berlin-based M&A boutique, advises tech companies on Seed, Series A, and Series B financing rounds, as well as guiding them through exit processes.
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