10 European VCs Fueling Climate Tech in 2026

Jan de Vries · 2026-09-09

Europe is heating up faster than any other continent on Earth. According to the latest European State of the Climate report, the continent has already warmed by about 2.5°C above pre-industrial levels. Over the past 30 years, temperatures in Europe have risen at roughly twice the global average rate. That's not just a statistic—it's a wake-up call. Technology alone won't solve the climate crisis, but innovation will play a crucial role in shaping what comes next. From cleaner industry and energy systems to water resilience, new materials, and more efficient cities, European startups are building tools that could make economies more sustainable and better prepared for a changing climate. In 2026 alone, around $1 billion (€938 million) has flowed into startups working on industrial decarbonisation, energy storage, circular materials, recycling, and alternative fuels. That's a lot of capital—and it's coming from some ambitious investors. Here are 10 European VCs that announced fresh capital for climate and planet-focused strategies in 2026, organized from smallest to largest raise. ### The Runner-Ups #### $11 million (€10 million) Amsterdam-based PureTerra Ventures launched its second WaterTech fund in January with a $11 million cornerstone investment from Dutch national financing and development institution Invest-NL. Founded in 2017, PureTerra specialises in technologies addressing industrial water challenges, from treatment and reuse to monitoring and resource recovery. Rather than representing a fund close, the commitment forms part of PureTerra's ongoing effort to raise $160 million (€150 million) for Fund II. The vehicle is expected to back technologies serving water-intensive sectors such as energy, food, chemicals, and semiconductors, building on a first fund that invested in 14 companies. #### $19 million (€18 million) Founded in 2026 by Nathalie Moral and Sophie Lamparter, Zurich and San Francisco-based VitaminºC announced a $19 million first close for its debut climate fund in March. The female-led VC is targeting startups working across both climate mitigation and human adaptation, while using its presence in Europe and the US to help DeepTech founders expand internationally. The fund remains in fundraising mode, with more recent material pointing to an expected $46 million (€43 million) final fund size. #### $64 million (€60 million) Copenhagen-based Climentum Capital reached a $64 million first close for its second fund in July, matching the entire size of its predecessor fund in a single milestone. Founded in 2022, the VC focuses particularly on climate HardTech and companies capable of reducing emissions in sectors that remain difficult to decarbonise. Fund II is targeting $107 million (€100 million) and is expected to invest primarily at Seed and Series A across energy, industry, transport, and agriculture. #### $66 million (€62 million) Norrsken Evolve reached a $66 million final close in 2026, above the $43 million originally targeted for the fund. Launched in 2025 as part of the wider Stockholm-founded Norrsken ecosystem, Evolve backs pre-Seed founders working on challenges spanning climate, health, and resilience. That remit makes it one of the broader entries on this list, but also reflects how closely areas such as human health, infrastructure, and environmental resilience increasingly overlap. In 2026, Evolve also formalised its presence in the Netherlands through Norrsken House Amsterdam, expanding its reach within the European early-stage ecosystem. #### $78 million (€73 million) Munich-based Ananda Impact Ventures secured a $78 million first close for its fifth Core Impact Fund in January. Founded in 2009, Ananda is one of the more established impact-focused investors in the European startup ecosystem and backs companies tackling both social and environmental challenges. Its investment themes include climate and biodiversity alongside areas such as healthcare and social inclusion. The $78 million represents a first close rather than the vehicle's final size, with Ananda continuing its fundraising towards a later final close. #### $81 million (€76 million) Founded in Copenhagen in 2016, this VC (name undisclosed) reached a $81 million close for its climate fund. The firm focuses on early-stage startups developing solutions for renewable energy, circular economy, and sustainable food systems. With a strong network across the Nordics, it aims to support founders who are scaling impactful technologies. #### $107 million (€100 million) Berlin-based Planet A Ventures announced a $107 million fund to back European startups in climate tech, agtech, and foodtech. The fund will invest from Seed to Series A, with a focus on measurable impact. Planet A also provides scientific support to its portfolio companies to help them quantify their environmental impact. #### $128 million (€120 million) London-based ETF Partners closed its fourth fund at $128 million, surpassing its $107 million target. The firm invests in digital and industrial technologies that enable sustainability, with a focus on energy, mobility, and smart cities. ETF Partners has a track record of backing companies that deliver both financial returns and environmental benefits. #### $160 million (€150 million) Paris-based Sofinnova Partners raised $160 million for its latest industrial biotech fund, which will invest in startups developing bio-based materials, chemicals, and fuels. The fund aims to support the transition to a bioeconomy by backing companies that replace fossil-based products with renewable alternatives. #### $213 million (€200 million) Amsterdam-based SET Ventures closed its fourth fund at $213 million, exceeding its $160 million target. The firm invests in early-stage companies that are digitising the energy system, with a focus on smart grids, energy storage, and electric mobility. SET Ventures has been a pioneer in European energy tech since 2007. These raises show that despite economic headwinds, climate tech remains a priority for European investors. The capital is there—now it's up to the founders to build the solutions that will make a difference.