Global asset manager Algebris Investments has announced the launch of Algebris Climatech, a new €100 million venture fund that aims to invest in climate and deep tech startups across various sectors, including energy, materials, industrials, and food. This marks Algebris’ first venture fund and comes on the heels of the firm’s successful Algebris Green Transition private equity fund, which raised €380 million in commitments by September 2024.
As of the initial close, Algebris Climatech has already secured approximately €60 million, with the goal of reaching €100 million. Notably, CDP Venture Capital is a significant investor, contributing through its Technology Transfer Fund and the Green Transition Fund-PNRR, which utilize assets allocated by the EU under the NextGenerationEU initiative.
Classified as Article 9 under the EU’s Sustainable Finance Disclosure Regulation (SFDR), the fund plans to establish a diverse portfolio of 15-20 companies that demonstrate strong growth potential and the ability to become leaders in their respective fields. Algebris aims to identify promising projects that emerge from university research and provide support for these companies as they expand into the market.
The management team for Algebris Climatech will be led by Marco Turchini, Algebris’ Investment Director, alongside Managing Partner Alessandro Santo and Partner Stefano Ferrari. Turchini expressed pride in the launch of the fund, highlighting Algebris’ capability to leverage its experience and connections within the climate and deep tech sectors of Europe, and emphasizing the firm’s commitment to fostering growth within Italy’s small business landscape.
Source: https://www.esgtoday.com/algebris-launches-e100-million-climate-tech-venture-fund/