Munich-based VC Ananda Impact Ventures has secured €73 million in the first close of its fifth Core Impact Fund, well above its €50 million target and securing the largest first close in the firm’s 16-year history in order to invest in frontier tech from the next-generation of European impact unicorns.
Returning and new investors include the European Investment Fund (EIF), NRW.BANK, Investcorp-Tages, Mercator Foundation, and over 40 family offices across Europe.
Co-founder Johannes Weber says: “We went out with the thesis that we should reflect the values of our founders – anti-consensus, anti-group think. We have seen venture capital follow the geopolitical zeitgeist into isolationism, division, and defence – simply by staying true to our core values, we become differentiated in the market. We become outliers. This is Impact Investing 3.0 – the era when impact ceases to be a word of convenience, and starts to be a word of conviction.”
In the context of recent European impact and DeepTech fund activity in 2025 and early 2026, Ananda Impact Ventures’ €73 million close sits alongside several sizeable raises in adjacent segments of the market.
Amsterdam-based Rubio Impact Ventures secured a €70 million close for its third fund to back startups addressing climate and social inequality, while fellow Dutch firm PureTerra Ventures launched Fund II targeting €150 million for water-focused technologies.
In adjacent DeepTech and energy segments, Armilar raised €120 million for its fourth fund focused on DeepTech and digital transformation, and Germany-based Future Energy Ventures closed a €205 million second fund to scale energy transition technologies.
Taken together, these announcements represent approximately €548 million committed or targeted for impact-led, climate and frontier technology investing, indicating that despite broader market caution, significant capital continues to be allocated to purpose-driven and technically specialised European venture strategies during 2025–2026.
Florian Erber, Founding Partner at Ananda, adds, “To change systems, you need a team that thinks in systems. We have built Ananda around biologists, engineers, chemists and entrepreneurs – people who think in molecules, ecosystems and lines of code. We are full of builders, and that is how you go truly deep. That is why we can tell founders to skip the problem slide.”
At a time when many investors are retreating from impact, Ananda claims to be doing the opposite: doubling down on European founders building companies indispensable for the future of people and planet, such as OroraTech (global wildfire intelligence), IESO (AI-driven mental health technology) and NatureMetrics (biodiversity data).
Just this year, OroraTech extended their Series B to over €37 million and NatureMetrics raised a $25 million Series B.
Zoe Peden, Partner at Ananda, says: “When we first backed NatureMetrics, biodiversity wasn’t a VC category – it was a regulatory footnote. We saw that nature risk would become financial risk, and that the companies building the data infrastructure would become inevitable. Three years later, Just Climate is leading their Series B, and the company has become the world leader in biodiversity data. That’s what research-driven investing looks like.”
Founded in 2009, Ananda Impact Ventures backs early-stage, tech-driven startups across Europe that tackle urgent social and environmental challenges. With €270 million under management across five funds, Ananda supports visionary founders building scalable solutions in areas such as climate, healthcare, biodiversity, and social inclusion.
Their investment strategy has been built over four fund generations:
- Thesis-centric sourcing
- A deeply technical team
- The patience to act as catalytic capital in sectors others have not yet discovered
Christian Mueller, Member of the Board of the Mercator Foundation Switzerland adds: “The Mercator Foundation Switzerland supports democracy, education, diversity, and climate. We were looking for established VC impact funds that are deeply committed to driving systemic change within our areas of work, realising both financial returns and real social and ecological impact. Ananda was a perfect match. We were especially impressed by the team’s ability to spot emerging trends and their balance of rigorous analysis with a deep investment in the people behind the companies.”
EU-Startups has previously covered Ananda Impact Ventures on several occasions. This includes an interview with co-founder Johannes Weber, published in 2023, which explored Ananda’s thesis-driven approach to impact investing and its focus on technically complex, mission-led founders. Earlier coverage dates back to 2018, when EU-Startups reported on Ananda’s €50 million fundraise to back around 20 European impact startups, highlighting the firm’s early commitment to the sector.
Read the orginal article: https://www.eu-startups.com/2026/01/german-vc-ananda-impact-ventures-completes-e73-million-first-close-to-back-european-impact-startups/
