ETF Partners Announces Oversubscribed Green Tech Fund, Raising €284 Million

A specialist sustainable venture capital fund has not only met but exceeded expectations, raising an impressive €284 million, surpassing its initial target of €250 million.

The growing interest in the booming clean tech sector was highlighted today as ETF Partners, a venture capital firm focused on environmental technologies, announced the successful closure of its fourth fundraising round.

Originally aiming for €250 million, the round concluded with a substantial oversubscription, reaching €284 million. ETF Partners is now set to invest in rapidly expanding, innovative European companies that promise a positive environmental impact.

Patrick Sheehan, co-founder and managing partner at ETF Partners, said: "Climate change is threatening life as we know it, as massive problems arise around the world. There is a clear need to back entrepreneurial businesses developing innovative solutions that can address these challenges.

"Fortunately, we see many fantastic teams across the European continent delivering exciting innovations that can make a difference today. We want to support these teams to rapidly scale their companies, so they can be both commercially successful and become leaders in changing our world for the better."

The new fund has already made notable investments in several exciting ventures, including Dexter, an AI-driven platform for power generation forecasting and trade optimization; Net Purpose, a sustainable investment data platform; Fairly Made, a supply chain mapping specialist; and Open Cosmos, a space tech and satellite data firm.

Several high-profile financial institutions, such as the European Investment Fund and British Patient Capital, support the fund.

Christine Hockley, managing director for funds at British Patient Capital, said, "We are delighted to be investing in ETF Partners' Fourth Fund as they look to support the new wave of innovative digital businesses tackling sustainability and climate-related challenges. The ETF team brings the experience and sectoral expertise required to support climate tech companies as they scale up."

ETF said the fund-raising success was "notably impressive against the backdrop of a challenging fundraising environment for many asset managers" and underscored the growing institutional interest in funding climate solutions.

Rob Genieser, managing partner at ETF Partners, said there was evidence the fund's strategy was working. "We have had success, as measured by the strong growth of our existing portfolio, such as demonstrated by The Modern Milkman, Zeelo and Hellas Direct, who were all named in the FT1000," he said. "We have also posted a number of recent exits, including DeepSea Technologies' sale to the Japanese technology leader Nabtesco and Greenbird Integration Technology's acquisition by GE Vernova. What all these companies share is that they are using digital technology to make a positive environmental impact quickly."