In its first year of activity, the venture capital fund plans to invest 10 million pounds in climate tech startups, the overall sumgrowind to 35 million pounds by 2025.

Climate VC is a UK-based EIS fund that will invest in over 100 climate tech companies within the next 3 years, across pre-seed and seed. According to the official website of Climate VC, the ticket sizes will vary on a deal by deal basis, usually £25k - £350k.

“We need to look at how to decarbonise every aspect of our day-to-day life and the economy. That means changing the way we; grow food and what we eat, move around, generate electricity & make things. The solutions, some established, some crazy, are being dreamt up by bold founders. We want to help ignite that early spark”, say the founders and partners of Climate VC.

According to Tech.eu, the investors aim to see at least 10 of these investments become full-scale successes, each removing 10 megatonnes of CO2e a year for a decade, cumulatively creating a gigatonne impact on the climate change mission by the mid-2030s.

The VC has announced two investments. One of the startups chosen is Global OTEC, a project that uses the temperature difference between surface sea-water and deep water surrounding tropical islands to generate continuously renewable energy. Another one is Tierra Foods, a startup that uses ancient techniques in order to produce carbon-negative ingredients while protecting the forests.