Meet Europe’s 30 most active impact VCs in 2025

1. EIC Fund 🇪🇺

The top entry on this list will come as little surprise: the venture arm of the European Innovation Council is the most active early stage investor in Europe, with a large proportion of those investments covering impact verticals such as energy, transportation, and food.

• Investments this year: 77
• Participated in deals totalling: $4.1bn
• Recent / notable investments: IQM, Proxima Fusion, BIOWEG, and Melt&Marble

‎‎ㅤ

2. Industrifonden 🇸🇪

An evergreen Nordic venture capital firm focused on clean tech, deep tech and life sciences, with a long track record of backing companies from early stage through to IPO.

• Investments this year: 17
• Participated in deals totalling: $1.8bn
• Recent / notable investments: Seapattern, Novatron Fusion, Oatly

ㅤ

3. Giant Ventures 🇬🇧

A purpose-driven venture fund backing companies it argues are addressing global challenges across climate, health, and economic inclusion, typically from seed stage.

• Investments this year: 17
• Participated in deals totalling: $1.1bn
• Recent / notable investments: CuspAI, Agreena, Evroc

ㅤ

4. Chalmers Ventures 🇸🇪

Sweden’s most active tech investor in science-based companies, mostly climate and deep tech university spinouts. Focused on early-stage support for research-driven startups.

• Investments this year: 14
• Participated in deals totalling: $198m
• Recent / notable investments: Modvion, Epishine, Minesto

ㅤ

5. Norrsken VC 🇸🇪

The venture arm of the Norrsken Foundation, investing in startups solving the world’s biggest problems while building scalable businesses, with a focus on climate, health, and tech innovation, and more recently, AI.

• Investments this year: 13
• Participated in deals totalling: $4.9bn
• Recent / notable investments: 1KOMMA5°, Einride, BeZero Carbon

ㅤ

6. LUMO Labs 🇳🇱

Impact-driven Article 9 venture fund investing across AI, climate, heavy industry, and software.

• Investments this year: 13
• Participated in deals totalling: $49.8m
• Recent investments: Nuclivision, Skyfora, HULO.ai

ㅤ

7. FoodLabs 🇩🇪

Globally active early-stage VC investor and venture studio backing entrepreneurs committed to planetary and human health – but mainly related to agrifood tech.

• Investments this year: 11
• Participated in deals totalling: $1.7bn
• Recent / notable investments: Gorillas, Formo, Meatable

ㅤ

8. World Fund 🇩🇪

Berlin-based fund focused on Series B funding for climate tech startups and scaleups across energy, mobility, food, and industrial sectors.

• Investments this year: 11
• Participated in deals totalling: $931m
• Recent / notable investments: IQM, CustomCells, Planet A Foods

ㅤ

9. Voima Ventures 🇫🇮

Helps founders scale deep technology ventures to global markets, with focus on industrial tech, sustainability, and advanced materials.

• Investments this year: 11
• Participated in deals totalling: $160m
• Recent / notable investments: TactoTek, Infinited Fiber, Paptic

ㅤ

10. Ananda Impact Ventures 🇩🇪

European impact VC backing companies to achieve social and environmental impact at scale, with focus on climate, health, and digital innovation.

• Investments this year: 10
• Participated in deals totalling: $410m
• Recent / notable investments: Ieso Digital Health, OroraTech, NatureMetrics

ㅤ

11. Extantia Capital 🇩🇪

VC fund investing in breakthrough technology solutions that significantly reduce carbon emissions, spanning energy, industrial processes, and climate tech.

• Investments this year: 10
• Participated in deals totalling: $336m
• Recent / notable investments: BeZero Carbon, INERATEC, Reverion

ㅤ

12. Ada Ventures 🇬🇧

A VC that finds and funds diverse teams building breakthrough ideas for the hardest problems, often in AI, healthtech, and deeptech.

• Investments this year: 10
• Participated in deals totaling: $279m
• Recent / notable investments: Huboo, Papier, Trouva

ㅤ

13. Vireo Ventures 🇩🇪

Early-stage investor focusing on energy, mobility, smart city, and climate technology solutions, supporting founders to scale in Europe and globally.

• Investments this year: 10
• Participated in deals totaling: $90.0m
• Recent / notable investments: Green Fusion, Liefergrün, e-mobilio

ㅤ

14. Emerald Technology Ventures 🇨🇭

Invests in sustainable industrial innovation, focusing on technologies that improve energy, materials, and industrial processes.

• Investments this year: 9
• Participated in deals totaling: $1.2bn
• Recent / notable investments: Believer Meats, INERATEC, NanoGraf

ㅤ

15. AENU 🇩🇪

Evergreen impact fund investing in multi-stage climate-tech and social impact companies across Europe and the US, emphasising long-term returns.

• Investments this year: 9
• Participated in deals totaling: $560m
• Recent / notable investments: Heirloom Carbon, ZeroAvia, Next Gen Foods

ㅤ

16. Ponderosa Ventures 🇬🇧

VC focused on early-stage companies in food, agriculture, and ocean sectors, emphasising sustainability and innovation.

• Investments this year: 9
• Participated in deals totaling: $221m
• Recent / notable investments: Terradot, Klim, Wootzano

ㅤ

17. Inclimo Climate Tech Fund 🇪🇸

Invests in early-stage teams creating systemic change through technology for a more sustainable world, focusing on climate tech.

• Investments this year: 9
• Participated in deals totalling: $36.0m
• Recent / notable investments: LAYERS, ScrapAd, BOLDR

ㅤ

18. Planet A Ventures 🇩🇪

Early-stage tech VC backing founders solving systemic challenges in energy, resource efficiency, sustainable production, and critical infrastructure.

• Investments this year: 8
• Participated in deals totalling: $474m
• Recent / notable investments: INERATEC, Makersite, 44.01

ㅤ

19. Ship2B Ventures 🇪🇸

VC investing in impact startups with social and environmental missions, supporting companies in early stages across Europe.

• Investments this year: 8
• Participated in deals totalling: $134m
• Recent / notable investments: Qida, 011h, Aortyx

ㅤ

20. Katapult Ocean 🇳🇴

The world’s most active ocean impact fund, investing in startups creating sustainable solutions for ocean industries and maritime ecosystems.

• Investments this year: 8
• Participated in deals totalling: $193m
• Recent / notable investments: bound4blue, Bedrock Ocean Exploration, CHOOOSE

ㅤ

21. Astanor Ventures 🇱🇺

Invests across the food and agriculture value chain to seed a "regenerative, nourishing, ultra-fresh, and trusted food system."

• Investments this year: 7
• Participated in deals totaling: $1.6bn
• Recent / notable investments: Apeel Sciences, Monarch Tractor, Modern Meadow

ㅤ

22. Future Energy Ventures 🇩🇪

Venture capital platform funding digital technologies and business models transforming energy, with a focus on climate tech and sustainable energy solutions.

• Investments this year: 7
• Participated in deals totalling: $615m
• Recent / notable investments: Tado, Autogrid, Buildots

ㅤ

23. Nysnø Climate Investments 🇳🇴

Norwegian fund making profitable long-term investments aimed at reducing greenhouse gas emissions and creating positive societal impact.

• Investments this year: 7
• Participated in deals totalling: $566m
• Recent / notable investments: Morrow, 44.01, Nofence

ㅤ

24. Pale Blue Dot 🇸🇪

Seed-stage climate-tech VC investing in startups that reduce or reverse climate change impacts.

• Investments this year: 6
• Participated in deals totalling: $295m
• Recent / notable investments: Monta, Patch, Overstory

ㅤ

25. Contrarian Ventures 🇱🇹

Hands-on, community-focused early-stage investor committed to net-zero and supporting founders in industrial and climate technologies.

• Investments this year: 6
• Participated in deals totalling: $285m
• Recent / notable investments: BeZero Carbon, PVcase, H2Pro

ㅤ

26. Faber 🇵🇹

Invests in entrepreneurs innovating at the intersection of science and technology, with a focus on digital transformation and climate action.

• Investments this year: 6
• Participated in deals totalling: $268m
• Recent / notable investments: Subdron, Ponda, Sword Health

ㅤ

27. The Footprint Firm 🇩🇰

Sustainability advisory and impact investment firm supporting impact startups striving for measurable environmental and societal benefits.

• Investments this year: 6
• Participated in deals totalling: $77.7m
• Recent / notable investments: ENERIN AS, Dynelectro, Rock Flour Company

ㅤ

28. Identity Ventures 🇩🇪

Impact-focused VC targeting early-stage startups with LGBTQ+ representation at founder or C-level, investing from pre-seed to Series A.

• Investments this year: 6
• Participated in deals totalling: $34.6m
• Recent / notable investments: Paxton AI, Peec AI, Shuttle

ㅤ

29. SHIFT Invest 🇳🇱

Early-stage VC focused on healthy food, clean technology, and agriculture, supporting founders with sector-specific expertise.

• Investments this year: 6
• Participated in deals totalling: $184m
• Recent / notable investments: Protix, BYBORRE, E-magy

ㅤ

30. Climentum Capital 🇩🇰

Copenhagen-based VC backing climate 'hard tech' startups – about to close its second fund.

• Investments this year: 5
• Participated in deals totalling: $110m
• Recent / notable investments: Qvantum, ENERIN AS, Rail-Flow

ㅤ

Pictured: Mala Valroy (Industrifonden); Cameron McLain (Giant Ventures); Jenny Engerfelt (Voima Ventures); Daria Saharova (World Fund); Fabian Heilemann (AENU); Evi Steyer (Ponderosa Ventures); Yair Reem (Extantia); Bram Ledeboer (SHIFT Invest); Felix Krause (Vireo Ventures); Michael Tefula (Ada Ventures)