UK's Vectr7 to invest $25M in European climatetech startups (tech.eu)
TLDR; Summary
- Vectr7 Investment Partners has secured a significant portion of initial commitments for its first fund to back early-stage climatetech startups.
- The UK-founded fund plans to raise a total of $25 million to invest in European companies focused on GHG capture or avoidance in real estate, infrastructure, transport, and utilities.
- The fund, Vectr7 Venture Series 2022 LP, has closed four initial investments, including follow-on financing.
- Vectr7's founders, Dominic Wilson and Mary Criebardis Singh, have over 10 years of investment experience together and have closed over 50 investments.
- The fund aims to provide strategic and operational support to early-stage companies and help them build scalable, global companies that address energy use and emissions.
- The fund is targeting investments of $1-3 million and plans to invest in approximately 15 ventures.
- It has already backed three companies, including measurable.energy, Kadence, and Patch.