World Fund, a Europe-focused climate venture capital fund, announced that it has raised a further €50+ million from institutional LPs.  New investors joining the venture include KfW Capital as well as Ignitis Group.

Ignitis Group, committed to enhancing its net-zero strategy, views venture investments in climate tech as pivotal. Darius Maikštėnas, CEO of Ignitis Group, stated, “We clearly see that this asset class is crucial for the energy sector in order to meet EU climate and our strategy targets as well as maintain competitive advantage.”

Daria Saharova, one of the founders of World Fund, added, “We see this as a strong signal for climate tech in Europe, especially against the backdrop of the venture capital slowdown.”

Despite this positive momentum, investment levels in the climate tech sector still fall short of what is needed to meet Europe’s emissions goals. According to BloombergNEF data, funding volumes must increase urgently by 590% per annum to $4.35 trillion annually. World Fund remains dedicated to advocating for increased commitment from governments, LPs, and VCs to address this gap.

Founded by a team of experts spanning various scientific disciplines, World Fund focuses on investing in European tech with significant climate performance potential. The fund is committed to supporting entrepreneurs who are developing technologies for a regenerative world.