Largest first-time fund in European climate VC history: Berlin's World Fund closes World Fund I at €300M

Berlin-based World Fund, a Europe-focused climate venture capital fund, announced that it has closed its inaugural fund at World Fund I at €300M, marking the largest first-time fund in European climate VC history.

Who backed?

The fund was backed by experienced LPs such as the European Investment Fund (EIF), KfW Capital, and VP Capital.

Several pension funds also joined the fund, including the UK Environment Agency Pension Fund, Wiltshire Pension Fund, and Croatia’s Erste Plavi.

World Fund’s first investor Ecosia, Europe’s largest independent search engine, also committed capital.

Additionally, the team secured Bpifrance’s investment, marking the organisation’s first venture into first-time VC funds outside France. 

Fund utilisation

The latest capital will enable the VC to make 25-30 substantial investments into European startups, those building technologies with the potential to decarbonise entire industries.

With this capital, World Fund will back entrepreneurs focused on decarbonisation as a value driver and building technology for a regenerative world.

World Fund says it will help  promising companies to surpass Europe’s devastating climate tech ‘Series B Valley of Death.’

Danijel Višević, Managing Partner at World Fund, says, “We are proud that we have been able to attract numerous institutional investors who haven’t ever invested in VC or a first-time fund before, but did now with us. We will work to ensure that our fund demonstrates to the world that successful investments and positive climate impact go hand-in-hand. In this way, we hope to provide a service to the entire climate investment sector.

World Fund: What you need to know

Founded in 2021 by Daria Saharova, Danijel Višević, Tim Schumacher and Craig Douglas, World Fund has already backed 15 market-leading companies, including IQM Quantum Computers, Space Forge, Planet A Foods, Juicy Marbles, and ENOUGH Foods.

The company focuses on the sectors with the greatest need for decarbonisation technologies: energy, buildings, manufacturing, transport, food, agriculture, and land use.

“We are on a mission to ensure that the best of European climate techs do not fail due to the dearth of funding beyond the earliest stages – that infamous ‘Series B valley of death’ that has plagued European companies for too long,” adds Višević.

It has offices in Berlin, Munich, Cologne, and Amsterdam, and an investment team with both a scientific and entrepreneurial make-up.  

“Our planet is at a pivotal juncture, and we could not be prouder to spend every day working towards creating a regenerative world, backing European founders building world-changing companies. If you’re building something, please contact us – our doors and inboxes are always open,” he concludes. 

Lilian Schwich, Co-Founder and CEO at Cylib, says, “World Fund understands the mission we are on – the team believes that CAPEX projects are the lever for tackling the climate crisis. Their team is strong and always approachable and offers us a superior mix of technical experts as well as relevant networks. Since investing in us in early 2023, they have already connected us with political institutions and offered incredible support with ESG expertise, as well as finding synergies within the wider portfolio. We could not recommend World Fund more highly.”