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Europe's startup ecosystem has been battered this year but climate tech founders have managed to avoid the brunt of the immense downturn so far. PwC's global analysis of the sector also points to climate tech outperforming the norm, accounting for a tenth of private market investments in 2023. Venture capital investment into European startups more broadly is primed to slump by around 46% to 58.1 billion euros in 2023. These obligations have helped make climate tech startups "catnip to investors," Sustainable Ventures' Stuart Ferguson said. Last year, European companies like electric vehicle manufacturer Polestar and batter-maker Northvolt raised 1.6 billion euros and 1 billion euros respectively.
Persons: They've, Stuart Ferguson, Fabian Heilemann, Heilemann, Biden's, Warner, Namratha, Mark Bula, Northvolt, Lisa Barclay, Ferguson, Aenu's Organizations: Steel, Venture, Sustainable Ventures, Warner, Ada Ventures, Elyos Energy, Green Steel, Nesta, Investments Locations: Swedish, British, Norwegian, London, Norway
The VC arm of the UK's social innovation agency Nesta just launched a £50 million ($60 million) fund. We got an exclusive look at the 13-slide pitch deck used to convince Nesta's board to launch the fund. While UK-focused, Nesta Impact Investments can invest in any geography as long as the company could have a positive impact on the UK market. In this portfolio, Nesta Impact Investments is running at 71% from minoritized or disadvantaged groups, according to Barclay. We got an exclusive look at the 13-slide pitch deck Nesta Impact Investments used to sell Nesta's board on the new fund.
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