World Fund is Europe’s biggest climate tech venture capital fund.

World Fund, a new climate tech venture capital fund initiated by search engine Ecosia, announced the launch of a €350 million ($405 million) fund that will invest in climate tech startups targeting decarbonization in sectors such as energy, transport, food and agriculture, manufacturing and buildings. (EU-Startups)

The general partners of the World Fund are Tim Schumacher, Danijel Visevic, and Daria Saharova. The team also includes Craig Douglas as partner and Christian Kroll as a venture partner, the founder and CEO of Ecosia.

The decarbonization market for tackling climate change is estimated to be a €5 trillion opportunity given the crisis enfolding as evidenced by rising temperatures, rising sea levels and rampant wildfires.

Investment strategy

• The Fund’s mission is to save 2 gigatons of emissions by 2040 – the equivalent to 4% of all global emissions.
• Eligible companies will be in the early to growth stage
• Highest climate performance potential as measured by the CPP indicator
• A company must have the potential to reduce greenhouse gas emissions by at least 100 megatonnes CO2e every year.

About half of the €350 million funding has already been committed and a first closing is set for H1 2022.

“We’re launching the World Fund to be the ultimate partner to back the tech entrepreneurs of Europe that will create the most valuable companies of the next decade while tackling the climate crisis,” said Danijel Višević, General partner.

“From farming startups to battery technology, startups addressing climate change need more funds with deep pockets and a commitment to support dynamic companies, to ensure they can fulfil their potential,” said Daria Saharova, General Partner. “The World Fund will fill a need in Europe for larger pools of capital dedicated to achieving solutions to the climate crisis.”

Christian Kroll, CEO of Ecosia and venture partner, said: “We need to create a future where billionaires won’t be those who just accumulate money but those who actively build solutions that save billions of tonnes of CO2 emissions.

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