Venture capital firm World Fund said Friday it's closed a 300 million euro ($325 million) fund to back startups tackling climate change.
World Fund, a European climate technology investor incubated by the environment-conscious search engine Ecosia, said it had raised the cash despite a challenging environment for technology investing — and, in particular, climate technology investing.
Investors have reeled from riskier tech-related bets after a jump in inflation and interest rates, which has surged dramatically since the Russia-Ukraine war in 2022.
Central banks have hiked rates to stem inflation, which has in turn soured investor sentiment toward tech.
"They've been like, sorry this is too much, you can't raise 300 million plus," Višević told CNBC.
Persons:
Višević, They've
Organizations:
World, Silicon Valley Bank, CNBC, Private
Locations:
Russia, Ukraine, Central, Silicon