The impact VCs actively fundraising – or closing funds – in 2026

After a bruising year that saw European VC fundraising sink to a decade-low €12bn, according to PitchBook, the venture industry is quietly gearing up for its next capital push.

While 2026 is still expected to be tough for new funds, PitchBook notes that many vehicles that were first closed in 2025 are now heading into final-close mode. There are also a growing number of managers that haven’t raised in two or three years and will be looking to pursue a new fund.

We’ve combed through the data and spoken to several impact and climate VCs to find out who is actively fundraising right now – and who might close fresh funds this year.

World Fund

World Fund has already started raising its second fund and those efforts will continue this year, Impact Loop understands.

The second fund has a target size of €500m, Danijel Višević, founding partner at World Fund, said at the IPEM conference in February last year, as first reported by New Private Markets.

The Berlin-based firm’s first €300m fund was one of Europe’s largest dedicated climate tech venture funds when it was announced in early 2024.

World Fund declined to comment or provide more information on its fundraising efforts for this story.

Rubio Impact Ventures

Netherlands-based Rubio Impact Ventures announced in November the first close of its third fund at €70m – and it will continue to fundraise this year, it confirmed to Impact Loop.

“Since November we raised an additional €17m, so currently we have €87m in committed capital for Fund III,” said a company spokesperson. “The fund is still open until the end of 2026 or earlier if we reach our target of €120m.”

Emerald Technology Ventures

Zurich, Switzerland-based VC Emerald closed the first portion of its Global Water Fund II at €60m in October, and now is actively fundraising, it confirmed to Impact Loop.

“We are actively fundraising,” the company said. “Some new big investors will be coming in soon, however we can not disclose them yet. We expect to reach the fund target soon, as demand is high.”

The fund has a target size of €150–180m, and follows Emerald's first Global Water Fund which closed at €100m in 2020.

SHIFT Invest

Netherlands-based SHIFT Invest announced the first close of our fourth fund at €92m in July.

The firm is currently fundraising toward its €150m target, investment partner Bram Ledeboer, told Impact Loop. Final close is anticipated in Q4 2026.

Ananda Impact Ventures

Munich-based Ananda Impact Ventures recently secured €73m in the first close of its fifth fund. The firm has a target of €108m which it looks to close this year.

“We are still fundraising and will stay open for another couple of months,” Johannes Weber, founding partner at Ananda Impact Ventures, tells Impact Loop.

The firm is mainly looking to attract capital from institutions, families, and foundations, Weber said, adding that 80% of existing investors follow up fund over fund.

LPs in the fourth fund included the European Investment Fund (EIF), KfW Capital, Investcorp/Tages, Candriam and several prominent family offices.

Climentum Capital

Climentum Capital is nearing the first close of its €100m climate 'hard tech' fund, Impact Loop revealed in December.

The Denmark, Copenhagen-based firm is actively seeking the last “single digit millions” from LPs to reach its €60m target.

Founding partner Stefan Mård told Impact Loop that the firm was targeting end of Q1 2026 for the first close.

Planet A Ventures

Berlin-based Planet A Ventures made headlines in March 2023 when it closed a €160m climate tech fund.

We suspect it’ll be fundraising for a new fund this year and have reached the firm for comment.

Clayton MacDougald (Emerald); Jennifer Dungs (Climentum); Machtelt Groothuis (Rubio); Daria Saharova (World Fund); Alina Bassi (Ananda Impact Ventures); Bram Ledeboer (SHIFT Invest).