Venture Capital: BASF Invests In VC Climentum Capital To Develop CO2 Reducing Technology

Climentum Capital is a VC fund investing in Seed+ & Series A startups that can cut down megatons of CO2 emissions.

BASF Venture Capital GmbH, the corporate venture arm of BASF (ETR: BAS), has invested in Climentum Capital’s first €150 million venture fund focusing on CO2 emission reductions. Other investors in the fund include Danish growth fund Vaekstfonden and Arbejdernes Landsbank, corporate investors, banks, industrial conglomerates as well as prominent family offices and successful tech entrepreneurs. (WebWire)

The investment by BASF Venture Capital GmbH will support BASF’s climate protection goals.

“The diverse and experienced team of Climentum is dedicating full-time resources to carbon accounting and impact advisory for portfolio companies right from the start,” said Markus Solibieda, Managing Director BASF Venture Capital GmbH, and added: “Joint efforts by corporates, investors and start-ups are necessary to achieve our ambitious climate goals.”

Climentum Capital

  • Founded in 2020
  • Among the first Article 9 funds in Europe with a dedicated focus on CO2 emission reductions from day one
  • Investing in late seed (Seed+) and Series A rounds
  • €1-5m EUR initial investment
  • 50% of capital reserved for follow-on investments
  • Leads 50% of its deals and follows 50% of the rest
  • Leads investments where it can obtain a 10-25% entry stake
  • Target for reducing CO2 will be next-gen renewables; food and agriculture; industry and manufacturing; buildings and architecture; transportation and mobility; and waste and materials

BASF Venture Capital

Founded in 2001, BASF Venture Capital has offices in Europe, the U.S., Canada, China, India, Brazil, and Israel. Its goal is to generate new growth potential for current and future business areas of BASF by investing in young companies and funds.

The focus of its venture investments include Decarbonization, Circular Economy, AgTech, New Materials, Digitization, and New, Disruptive Business Models.

Related Story: Volvo’s Venture Arm Invests In Optibus, Which Optimizes Public Transportation

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