Inclimo Climate Tech Fund successfully closes its first fund at €33.6 million and consolidates a leading portfolio in climate innovation

Inclimo Climate Tech Fund announces the final closing of its first investment vehicle with a total volume of €33.6 million, exceeding initial expectations in a complex macroeconomic context. This milestone marks the consolidation of one of the most dynamic climate funds in Southern Europe, focused on accelerating high-impact technological solutions for decarbonization and climate adaptation.

The closing — backed by institutional investors, family offices, and public entities such as Fond-ICO and the Institut Català de Finances — consolidates the fund’s investment thesis and ensures the capacity to continue supporting high-impact climate solutions in the coming years. “Closing the fund with €33.6 million in such a volatile environment not only validates our thesis but also demonstrates that the Climate Tech ecosystem in Europe has enormous transformative potential,” says Fernando Casado, co-founder and General Partner of the fund. “Our goal now is to continue accelerating technological solutions that are not only profitable but also essential to achieving a fair and resilient transition.”

Since its launch in 2023, the fund has made 13 strategic investments in technology-based startups at the seed and Series A stages. The current portfolio includes leading companies in their verticals such as Ocean Ecostructures (marine regeneration); HEMAV (geospatial data-driven agrotech); GoTrendier (textile circular economy); Woodea (low-emission engineered timber construction); and more recently, Hamelyn (resale of retail surpluses and returns as a way to reduce waste) and BM2 Solar (optimizer of solar installations for self-consumption and energy communities), among others.

In addition, Inclimo plans to make 12 new investments during the remaining period of the fund, consolidating an estimated total of 25 portfolio companies. “From the beginning, Inclimo has been committed to a rigorous approach, close to entrepreneurs and aligned with the systemic challenges of climate change. This closing is not an endpoint but a starting point to consolidate a portfolio of transformative solutions with global potential.” — Gerard Olivé, another of the fund’s founders and also General Partner.

The fund is classified as Article 9 under the European Union’s Sustainable Finance Disclosure Regulation (SFDR), the most demanding sustainability category. This distinction means that the fund explicitly targets investments with a positive environmental or social impact and applies rigorous measurement, transparency, and alignment criteria with European climate goals. In line with this commitment, the portfolio companies are generating tangible results such as reducing emissions in the construction sector, improving water efficiency in agriculture, and promoting circular economy models in key industries. “We have built a solid, transparent financial structure aligned with the highest ESG standards. This closing not only reflects our investors’ trust but also our ability to manage responsibly and with long-term vision in a demanding environment.” — Alba Guillén, CFO of Inclimo Climate Tech Fund.

To date, the fund has mobilized over €7 million in direct investment and co-invested alongside international funds such as IDB Lab, IDC Ventures, FJ Labs, and Point 9 Capital, as well as prominent national funds, demonstrating its ability to attract capital and access high-quality strategic opportunities.

The international context reinforces Inclimo’s role: while the Climate Tech sector is entering a more selective, profitability-oriented phase, specialized funds like Inclimo are gaining relevance amid the pullback of generalist investors. Europe maintains its leadership in climate finance, concentrating 45% of global capital and consolidating a trend toward fewer but higher-quality and higher-impact transactions.

With the closing of this first fund, Inclimo strengthens its position as a catalyst for Europe’s new regenerative economy, driving technologies that not only address climate change but also reinforce resilience, industrial competitiveness, and the continent’s strategic autonomy. “The future of Europe depends on climate innovation. Our purpose is to prove that investing in resilience is not only urgent but also an unprecedented economic opportunity,” concludes Fernando Casado.

About Inclimo Climate Tech Fund
Inclimo Climate Tech Fund is a venture capital fund that invests in climate technology companies with the goal of reducing global greenhouse gas emissions. It focuses on startups developing technologies and innovations aimed at mitigating climate change, primarily in sectors such as Utility Tech (energy and water), Agro and Food Tech, PropTech, Mobility, Circular Economy, and DataTech.