More money, fewer problems: European venture capitalists aim to inject millions of euros into climate, clean, and green tech industries
2022 proved to be a fruitful year for European venture capital funds, according to an article by Amy Lewin and Sadia Nowshin of Sifted.eu. Last year, more than €23.3 billion was raised by both established and up-and-coming venture capitalists. Unsurprisingly (but nonetheless encouraging), funds and firms are eyeing climate tech projects and start-ups as promising and politically prioritized investments. The European Union has committed to reducing emissions by 55% from 1990 levels by the end of the decade, and becoming the world’s first net-zero continent by 2050. Other European nations outside the EU have their own climate goals, including the United Kingdom, Turkey, Switzerland, and Norway. These commitments spell more than just positive change for the environment. For venture capitalists, they signal the start of a new global industry in need of financing now, with the potential for exponential returns in the future.
