Europe’s cleantech VC has been damaged by the weak investment cycle in 2025 with a decrease of 18% compared to 2024. Still, there are some very active investors who are not only backing sustainability—they’re on the frontline of technological revolutions in energy, materials, food, and urban design.
In this post, we present the most active and influential cleantech VC investors shaping Europe’s green transformation in 2025.
What Happened in 2024 and What is Happening in 2025?
Possibly mainly due to economic and political instability, in Q1 2025 the EU cleantech venture and growth investment decreased 18% compared to the previous quarter and fell below the 2024 average. Investments in Q1 2025 totalled €1.8 billion, while in Q1 2024 it totalled €2.8 billion.Germany led the race with 36 deals, followed by the Netherlands and France (20 each), and Spain (16). 53% of the investments fell within the vertical of energy and power.
Although 2025 is being a challenging year for investments, there are some leading VCs worth watching this year. Do you want to know who is boosting Europe’s green transition?
Top 7 European Cleantech VCs in 2025
According to Seedtable, the Climate Tech & Green Tech sector in Europe is growing at a fast pace. They analyzed +2,500 venture capital investors in Europe and selected 30 of them based on the size of their fund or the quality of the companies they invested in. Following those criteria, these are the top 10 VCs to watch this year:
Prima Materia
European venture capital fund based in Stockholm investing in Series A and Series B.
- Ticket size: from €100,000 to €1 billion.
- Verticals: manufacturing, climate tech, AI, health tech, and gaming.
- Industry: Climate Tech & Green Tech, Health Tech, Govtech.
- Portfolio: Helsing, Homa Games, H2 Green Steel.
- Link: https://primamateria.com/
Northzone
European venture capital firm investing in technology companies.
- Ticket size: from €100,000 to €1 billion.
- Industry: Climate Tech & Green Tech, Health Tech, Edtech.
- Portfolio: Homa Games, Hopin, TIER Mobility.
- Link: https://northzone.com/
General Catalyst
Venture capital firm that invests in early-stage startups in education, research, health care, and social work.
- Ticket size: from €100,000 to €1 billion.
- Industry: Climate Tech & Green Tech, Health Tech, Edtech.
- Portfolio: Mistral AI, Helsing, Monzo.
- Link: https://www.generalcatalyst.com/
Accel
Early and growth-stage venture capital firm that helps a global community of entrepreneurs.
- Ticket size: from €100,000 to €1 billion.
- Industry: Climate Tech & Green Tech, Health Tech, FinTech.
- Portfolio: Monzo, Algolia, Hopin.
- Link: https://www.accel.com/
Index Ventures
Venture capital firm that invests in start-ups with the potential to become global businesses.
- Ticket size: from €100,000 to €500 million.
- Industry: Climate Tech & Green Tech, Health Tech, Edtech.
- Portfolio: Algolia, GetHarley, Alan (company).
- Link: https://www.indexventures.com/
Ring Capital
Paris-based company investing in Pre Seed, Seed, Series A, Series B.
- Ticket size: from €100,000 to €30 million.
- Industry: Climate Tech & Green Tech, Edtech, FinTech.
- Portfolio: Yespark, WeeFin, Orus Energy.
- Link: https://www.ringcp.com/
Supernova Invest
Venture capital firm in France that focuses on the life sciences, energy and environment, industry, microelectronics and digital sectors.
- Ticket size: from €100,000 to €100 million.
- Industry: Climate Tech & Green Tech, Health Tech, FinTech.
- Portfolio: Adionics, Gleamer, Aledia.
- Link: https://supernovainvest.com/
Do you want to know who is at the head literally right now?
Top 3 European Cleantech VCs in July 2025
According to the study provided by Shizune, these are the most active investors as of July 2025:
Chalmers Ventures AB: Sweden.
- Industry: Software, Biotechnology, Information Technology.
- Focus: Pre-Seed, Seed, Funding Round
- Portfolio: Embedl AB, Adsorbi, Swedish Algae Factory.
MIG Capital: Germany.
- Industry: Biotechnology, Health Care, Medical.
- Focus: Series A, Funding Round, Series B.
- Portfolio: Inbolt, SciRhom, Look Up Space.
Par Equity: UK.
- Industry: Software, Information Technology, Health Care.
- Focus: Funding Round, Series A, Seed.
- Portfolio: CSignum, Partful, Watercycle Technologies.
Future perspectives: Emerging Trends in European Cleantech VCs
- Record deal flow: Germany, the Netherlands, France, and Spain are leading in deal counts, but nearly every major European market is seeing VC-backed climate innovation.
- Larger, sector-specific funds: Climentum, Forward.one, and Blue Earth are deploying hundred-million-euro funds targeting energy transition and heavy industry.
- Science-backed investment: Planet A’s use of life-cycle assessments as part of due diligence is increasingly the gold standard.
- Rising state and EU involvement: Funds like PFR Green Hub and EIF/European Investment Bank-backed initiatives are unlocking public capital for cleantech, especially for scaling promising startups.
