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05/29/2024 /VC Firms

Clean Energy Ventures Closes Oversubscribed $305M Fund II for Climate Innovations

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AI-assisted, human-published

Clean Energy Ventures (CEV), a prominent global venture capital firm focusing on early-stage climate innovations, has successfully concluded the oversubscribed second flagship fund, securing a total of $305 million in capital commitments.


The fund's closure signifies an expansion of investment opportunities in North America, Europe, and Israel. The previous fund, Fund I, amounting to $110 million, backed 20 disruptive companies in the climate tech sector, collectively positioned to mitigate over 50 gigatons of greenhouse gas emissions.


CEV's investment strategy emphasizes the capability of each investment to mitigate at least 2.5 gigatons of CO2e emissions cumulatively by 2050, alongside financial performance. The firm actively engages in commercializing its portfolio companies through technical and commercial expertise, a network of industry executives, and a Strategic Advisory Board led by former U.S. Secretary of Energy, Ernest Moniz. 


CEV has established offices in London to support its operations in Europe, aiming to bridge the funding gap for early-stage companies in the thriving European climate tech sector. The fund has already been deployed into companies such as Noon Energy, Evari, Nitrofix, and OXCCU, with more investments on the horizon. CEV's dedication extends beyond standard venture capital, providing leadership coaching, strategic marketing, IP development, engineering support, and active board participation to its portfolio companies. Founded in 2017, CEV manages over $415 million in assets and has funded 26 companies to date.



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