French climate investor SlateVC raises €132 million first close for inaugural growth fund
French climate investor Slate Venture Capital (SlateVC) has achieved a significant first close for its inaugural growth fund, raising €132 million. This capital injection, supported by institutional investors including the European Investment Fund (EIF), Bpifrance, and BNP Paribas, signifies a strong commitment to backing European B2B companies focused on the energy transition and circular economy. The fund aims to invest in businesses where environmental performance directly correlates with superior economic performance, highlighting a growing trend in impact-driven investment. The fund's strategy centers on scaling European technological solutions that contribute to climate transition, particularly within energy, low-carbon industrial processes, and circularity. This move by SlateVC reflects a broader pattern observed across Northern Europe, with other venture capital firms like Footprint Fund I, Ananda Impact Ventures, 2150 Fund II, and SC Net Zero Ventures also announcing substantial raises for climate-focused strategies. These combined efforts represent an estimated €900 million to €1 billion committed to climate and transition-focused ventures, underscoring sustained institutional interest in the sector. SlateVC’s fundraising success, despite a reported slowdown in the wider venture capital market, demonstrates a market signal that climate impact necessitates scale and industry-leading competitiveness. The firm’s focus on B2B companies indicates a strategic approach to driving tangible environmental and economic returns. This influx of capital is expected to foster the growth of innovative European enterprises contributing to sustainability goals and bolstering the continent's digital and green sovereignty.
Curated and translated by Europe Digital for our multilingual European audience.
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