Venture capital firm Energy Impact Partners has launched its European fund with €390m (£337m) from backers including Microsoft’s Climate Innovation Fund.
The Energy Impact Partners fund is the firm’s first of its kind in the region and will invest in energy startups that are working towards a net zero carbon economy.
Hans Kobler, Founder and CEO, Energy Impact Partners said: “Europe is leading in the energy transition and is a key market on the road to net zero where we are seeing thousands of investable opportunities.”
Energy Impact Partners also wants to provide support in helping European startups grow into North America.
Headquartered in New York, Energy Impact Partners has further offices in San Francisco, Palm Beach, London, Cologne and Washington DC.
“Microsoft is committed to become carbon negative by 2030. As part of the company-wide efforts, the Microsoft Climate Innovation Fund selected EIP as its first fund investment in climate tech,” said Brandon Middaugh, director, Microsoft Climate Innovation Fund.
Investors alongside Microsoft include the Abu Dhabi Investment Authority, Électricité de France, EWE AG, Fortum, Galp, Mainova AG, the Norwegian Ministry of Trade, Industry & Fisheries and TrønderEnergi AS.
Prior backings include London-based EV charging provider ev.energy and ESG data platform ESG Book.
According to Energy Impact Partners, it holds more than $2.5bn of assets under management and has over 70 staff.
Dr. Urban Keussen, chief technical officer, EWE AG said: “These days the energy transition is becoming even more important not only to reduce CO2 emissions but to replace fossil molecules with green ones and to reduce energy dependency on individual countries.”
Ocean 14 Capital impact fund that recently secured £8.6m to invest in sustainable projects relating to ocean preservation.