Impact VCs off to strong start in 2026 with €1.5B in new funds

Europe's impact investors clearly had a busy closing month of 2025 based on the number of new funds closed or announced this January.

From seed-stage vehicles to early-growth funds, capital is still flowing – even as the sector continues to wrestle with what “impact” actually means in practice.

Voyager Ventures

US and Europe-based climate tech Voyager Ventures closed its second fund at $275m, and opened a new office in Munich.

The firm also dropped the ‘climate tech’ label from its branding, according to the Wall Street Journal article where the announcement was first published. However, shortly after that article was published, WSJ edited the title citing that it received “wrong information” and the term “climate technology” was added back to Voyager’s website.

Looks like branding is going to be another thorny issue in impact VC this year…

Ananda

Munich-based Ananda Impact Ventures recently announced the first close of its fifth fund at €73m, targeting €108m.

Unlike some firms, Ananda said it was doubling down on impact, targeting early-stage European founders building technologies it views as essential for long-term social and environmental sustainability.

In the wake of the announcement Ananda’s founding partner Johannes Weber said in a blunt criticism of the industry: “It’s time to stop camouflaging and get back to building things that truly matter.”

Eurazeo

Eurazeo, one of Europe’s largest investment groups, is preparing to announce a new €500m late-venture fund targeting 'future industries', news Impact Loop exclusively broke In January.

The so-called “future industries fund” is expected to open formal fundraising in the coming weeks, according to Alice Besomi, managing director for industrial climate tech at the firm. A first close of around €180–200 million is expected by around July.

2150

London-based venture firm 2150 has closed its second fund at €210m, making it one of the largest early-stage impact investment vehicles in Europe.

2150, which announced the first close of the fund in March last year, has attracted a global LP base of institutional investors and family offices including Viessmann Generations Group, Chr. Augustinus Fabrikker, Novo Holdings, and the Danish sovereign fund EIFO.

PureTerra

Water tech is a largely underserved area in impact investing, something PureTerra Ventures looks to change.

The Amsterdam-based firm launched a new €150m fund in January, anchored by a €10m commitment from Invest-NL to back water technologies.

Daphni

The largest impact fund close this month came from France.

Paris-based venture capital firm Daphni has sealed the deal on its Blue fund at €260m, which it plans to channel into startups emerging from Europe’s labs.

The firm will invest across deep tech, industrial tech and climate – and, as Impact Loop reported, is also considering treading into dual-use investments.

The Footprint Firm

Copenhagen-based The Footprint Firm – a part advisory, part VC – recently closed its debut fund at €76m.

The Footprint Firm started raising capital for the fund – an Article 9 vehicle – in 2024 and has already invested in 20 startups, including Reel Energy, Kvasir Technologies, Nordic Salt Cycle, FoodOp and Rock Flour Company – one of the only climate tech companies operating in Greenland.

Pictured above: Sierra Peterson (Voyager Ventures); Job van Schelven (PureTerra Ventures); Pierre-Eric Leibovici (Daphni);