Copenhagen-based venture capital firm Climentum Capital has launched the first €60 million close of its second fund, matching the size of its inaugural vehicle as it continues to invest in European climate hard tech startups. Targeting a final size of up to €100 million, Fund II will lead Seed and Series A investments in B2B companies developing technologies that strengthen Europe’s industrial resilience, energy security, supply chain stability, and industrial efficiency. Backed by returning investor EIFO alongside new commitments from the European Investment Fund (EIF), the Danish Society of Engineers (IDA), corporate investors, pension funds, and family offices, the fund builds on Climentum’s first exit after Studsvik acquired portfolio company KNXT. The firm says the new capital will support startups helping to modernize Europe’s industrial base while advancing decarbonization and long-term competitiveness.
Climentum Capital invests in early-stage climate hard tech companies developing technologies that support industrial decarbonization, energy systems, manufacturing efficiency, and supply chain resilience. The firm leads Seed and Series A funding rounds across Europe, with a particular focus on the Nordics and Germany.
The first close matches the full size of the firm’s inaugural €60 million fund launched in 2022, while Fund II has a target size of up to €100 million. The Copenhagen-based venture capital firm will continue leading Seed and Series A investments in B2B startups addressing industrial efficiency, energy security, supply chain resilience, and sustainable manufacturing across Europe.
The new fund is backed by returning investor Denmark’s state investment fund EIFO, alongside new commitments from the European Investment Fund (EIF), the Danish Society of Engineers (IDA), and a syndicate of corporate investors, pension trusts, and family offices with industrial expertise.
The launch follows Climentum’s first realized exit after Swedish engineering company Studsvik acquired portfolio company KNXT less than three years after the firm’s initial investment. Climentum said the transaction demonstrates growing demand from established industrial companies for technologies that enhance competitiveness and accelerate industrial transformation.
Climentum will invest from Fund II through a team based across the Nordic countries and Germany. The firm strengthened its investment team in 2025 with the appointment of General Partner Jennifer Dungs, who previously worked across the automotive and clean energy sectors and has completed more than 40 investments.
Read the orginal article: https://arcticstartup.com/climentum-capital-launches-e60m-first-close-of-fund-ii/
