The Climate Hub, a climate management company based in Barcelona, has launched a new investment fund aimed at supporting emerging companies dedicated to decarbonization.
This week the National Securities Market Commission granted approval for the launch of Inclimo Climate Tech I, a fresh investment vehicle established by Alejandro Pardo, Gerard Olivé, and Fernando Casado.
The primary objective of this venture is to advance technologies that contribute to the reduction of carbon emissions and the mitigation of climate change.
The fund’s initial round of financing, which took place in May, saw a commitment of approximately €20 million, with an additional €20 million being sought.
The ultimate goal of the fund is to mobilize a total investment of €40 million, supporting the development of around 25 early-stage startups (Series A) focused on climate-related technologies.
Inclimo, also headquartered in the Catalan city, will strategically allocate its capital across diverse sectors such as food technology, smart mobility, water management, and clean energy generation.
The fight for the climate
The co-founder and General Partner of Inclimo Climate Tech Fund I, Fernando Casado, has expressed his commitment to “investing in the upcoming leaders that will emerge from these sectors” and have the potential to become gigacorns, companies capable of reducing one gigaton of CO2 emissions annually.
Alejandro Pardo, the General Manager of Corporate Services and Venture Capital at Sorigué, and co-founder and General Partner of Inclimo Climate Tech Fund I, has emphasized their participation in Inclimo due to the emphasis on sustainability and the willingness to drive innovative solutions that decisively contribute to mitigating the impact of climate change.
Gerard Olivé, co-founder of Inclimo Climate Tech Fund I and Antai Ventures, has explained that investment and talent attraction trends in climate tech startups demonstrate an irreversible momentum that is expected to generate significant returns.
The team shared in a press release that, despite the crisis, 2022 saw unprecedented levels of investment in climate technology.
Last year investments surged by 19%, with climate technology receiving a substantial boost from 13 billion in 2018 to a staggering 82 billion in 2022.
Among the sectors, energy claimed the lion’s share with 42 billion, followed by mobility with 20 billion, circular economy with 13 billion, and food and agro tech with 8 billion.
Yet, early Q1 data from 2023 shows that the funding slowdown finally caught up with climate tech, and only the circular economy vertical grew, while carbon capture efforts took the biggest hit.