Climate

Investors in Fund II include the Grantham Foundation for the Protection of the Environment, the Dunn Family Charitable Foundation, Carbon Equity, Builders Vision and New Summit Investments.

The investor's climate opportunities program, which raised raised £1.4 billion in 2022, has raised an additional £1.2 billion in commitments.

The fund attracted 50 investors, including Folksam, Första AP-fonden (AP1), European Investment Fund (EIF), Otto Group, KfW Capital, BMW Group, Saminvest AB, SEB, Credit Suisse, Nordea, Investcorp-Tages and the National Treasury Management Agency.

A dozen climate-focused venture funds have raised a combined $3.5bn this year, according to Venture Capital Journal research.

Investors include BlackRock, Temasek, Allstate, BBVA, KIRKBI, Mizuho Bank Ltd, MUFG Bank Ltd and TotalEnergies.

To address Europe's 'Series B Death Valley' for climate tech companies, World Fund has set aside €200m of its new €300m fund for follow-on investments in its best-performing companies.

Chevron Technology Ventures, SOSV and Wellington Management closed on new climate-focused venture capital funds this week.

Toyota Ventures Frontier Fund II closed on $150 million, while Toyota Ventures Climate Fund II also raised $150 million.

In just 12 months, Venture Capital Journal's list of climate-focused funds has grown to 44 funds that have raised a combined $9.5bn.

World Fund's debut vehicle closed on €300m, with backing from the European Investment Fund, KfW Capital and BPI France, among others.