World Fund has successfully closed a €300 million first fund after a challenging three-year fundraising journey. Despite falling €50 million short of its target in 2021, the achievement is significant given the backdrop of war and economic uncertainty. The venture capital firm originated from the founders of Ecosia, an independent search engine that funded tree planting through search inquiries.
If you’re seeking comparisons, Norrsken VC is a $130 million impact VC focused on climate, while Demeter Partners recently raised a €250 million fund with a climate emphasis.
Supported by the European Investment Fund, KfW Capital, BPI France, and other prominent entities, World Fund is set to make 25-30 investments into European startups concentrating on decarbonization. Among its notable investments are IQM Quantum Computers, Space Forge, and Planet A Foods.
Despite a challenging fundraising environment in 2023, World Fund’s managing partner Danijel Višević noted the firm’s dedication to investing in decarbonization technologies and an emphasis on hardware applications for climate solutions.
World Fund’s successful raise comes amidst a thriving climate tech sector in Europe. In 2023, European climate tech startups raised over $20 billion, showcasing significant growth potential. The U.K., Sweden, and Germany led in total climate tech VC investments, with notable growth seen in Iceland, Lithuania, and Bulgaria.
European energy-related patents have also seen a 15% year-on-year increase, indicating a growing focus on innovation in the European climate tech space. Founded in 2021, World Fund has made its mark in the industry with a strategic focus on decarbonization and a commitment to investing in cutting-edge technology.
