The fund secured investment from institutions including British Patient Capital and plans to fund impact startups in areas such as energy, transportation, and agriculture.
ETF Partners, a London-based venture capital impact investor, has raised €285m for its fourth fund which invests in innovative companies focused on tackling the climate emergency quickly.
The ETF Partner Fund 4 strategy, which was originally targeting a €250m close, attracted investment from institutions including the European Investment Fund (EIF) and British Patient Capital.
The fund has made investments in a number of companies including AIPERIA, Dexter Energy, Fairly Made, Hellas Direct, Net Purpose and Open Cosmos.
Fundraising
ETF Partners, which focuses on five verticals, including energy, transportation, connectivity, consumer and food as well as agriculture, said the interest in the fund highlights a growing institutional interest in funding solutions that help to address the climate emergency.
Specialising in European climate startups that can grow and make an impact quickly, ETF Partners were among the key investors which led a funding round raising €10.5m last year for Amsterdam-based Dexter Energy, as reported by Impact Investor.
The investment helped Dexter Energy expand its AI-driven renewable power generation forecasting solutions.
Patrick Sheehan, co-founder and managing partner at ETF Partners said they want to support firms to rapidly scale up to become leaders in changing the world for the better.
“Climate change is threatening life as we know it, as massive problems arise around the world. There is a clear need to back entrepreneurial businesses developing innovative solutions that can address these challenges. Fortunately, we see many fantastic teams, right across the European continent, delivering exciting innovations that can make a difference today,” he said.
Christine Hockley, managing director for funds at British Patient Capital, said: “We are delighted to be investing in ETF Partners’ fourth fund as they look to support the new wave of innovative digital businesses which are tackling sustainability and climate related challenges.”
“The ETF team bring the experience and sectoral expertise required to support climate tech companies as they scale-up,” she added.
In addition to this latest fundraising round, ETF Partners added they have completed a number of recent exits, including the sale of DeepSea Technologies to the Japanese technology firm Nabtesco, as well as the acquisition of Greenbird Integration Technology by GE Vernova, among others.
Rob Genieser, managing partner at ETF Partners, said: “We have focused on sustainable investing for eighteen years. Entrepreneurs appreciate our commitment, and they want to partner with us to create climate champions.”
