World Fund Secures €300M for Climate Tech Investments

The European-based World Fund has successfully closed its first fund at €300 million, aiming to support startups focused on reducing carbon emissions.

• World Fund, a European climate tech investor, has closed its fund at €300 million ($320 million) to invest in startups that can significantly reduce carbon emissions.
• Despite being €50 million short of its initial target, the fund marks the largest first-time fund raised by a climate tech VC in European history.
• Investments will focus on seed and Series A stages, with a significant portion reserved for follow-on investments to address the 'Series B valley of death'.
• The fund has already backed several companies, including in the food and quantum computing sectors, with plans to make 25 to 30 investments during its lifespan.
• World Fund managed to raise the fund amidst challenging conditions, including a broader downturn in tech, the war in Ukraine, and rising interest rates.

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