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Picture credit: Contrarian Ventures
Vilnius-based Contrarian Ventures, an early-stage local weather know-how investor, introduced on Wednesday that it has launched a €100M climate-tech fund to unravel the funding hole for seed-stage local weather founders in Europe.
The Lithuanian firm additionally introduced its intention to increase throughout Europe, with bases in London and Berlin.
Contrarian Ventures co-founder Rokas Peciulatis says, “We’re the local weather era. We’ve by no means recognized a world the place international warming hasn’t been a spectre, but we’re the primary to have the information, experience, and tech to drive actual change. However we should deal with the world in 2050, not simply 2030. Local weather tech can be some of the profitable and vital funding alternatives for the following 30 years, however European entrepreneurs are nonetheless closely underfunded and underrepresented on the Seed stage. That’s why we’re launching right now’s fund to shut this funding hole for future climate-tech founders and mobilise the sources wanted for local weather motion whereas persevering with to construct a agency that turns into the best choice for local weather tech entrepreneurs.”
The VC goals to turn into an impactful participant within the local weather tech sector and is seeking to triple the dimensions of its workforce by increasing its funding workforce and including roles, together with market analysis and platform administration.
It has additionally made its first rent in Berlin, with one other deliberate in London by the top of the 12 months.
Contrarian Ventures: What it’s essential to know
Based by Rokas Peciulaitis in 2017 and later joined by Tomas Kemtys, Contrarian Ventures takes a collaborative, hands-on, founders-first method targeted on backing essentially the most formidable local weather entrepreneurs throughout Europe and Israel.
With its first fund, Contrarian Ventures has invested in 21 offers, together with three exits, and co-invested with greater than 100 traders – from massive generalist VCs to smaller, sector-specific ones.
“Contrarian’s first fund is at present acting at high decile in 2017 classic with 4 ‘soonicorns’ (privately held corporations with a €100M valuation) of their portfolio already,” says a press launch.
The highest-tier LPs already investing in Contrarian Ventures’s fund embody Korys Investments, Molten Ventures, and the Grantham Basis.
At present, Contrarian Ventures has a pan-European portfolio of 18 category-winning corporations, from Zoomo (gentle electrical automobile platform) to H2Pro (commercialising a novel electrolysis know-how).
Mohadeseh Abdullahi, an investor at Molten Ventures, says, “With a direct deal with the local weather sector on the seed stage, coupled with its spectacular workforce in an thrilling territory, Contrarian enjoys a singular perspective in the marketplace and its alternatives. It has constructed a powerful fame on this house and has developed a superb and deep-knitted community of technical consultants and advisors. We’re delighted to welcome Contrarian to our Fund of Funds programme.”
Brieuc de Hults, Funding Director at Korys Investments, says, “We have been very impressed by the Contrarian workforce and what they’ve achieved with their first fund already. They invested in nice founders and managed to develop nice networking alternatives such because the Vitality Tech Summits to place themselves as leaders in seed investments inside the power transition. The power transition is on the core of our DNA, and their funding scope aligns with ours. We’re thrilled to see what they may obtain with their second fund and are very happy to assist them reaching their sustainability targets with a dedication at their first closing.”
Catch our interview with Paul Down, Head of Gross sales at Intigriti.
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