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AENU

DEATCHGBFRSEDKNOFINLClimateDeep TechAI/MLB2B SaaSEnterprise

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Investment thesis

AENU is an Article 9 climate tech VC fund backing disruptive hardware, software, and AI-native ventures across the energy transition, industrial decarbonization, and systemic resilience. Founded by serial entrepreneurs (DailyDeal, Forto) and institutional investors (Earlybird, Speedinvest), the firm invests at the seed sweet spot — with selective pre-seed and early Series A — across Europe, with a focus on DACH, France, the UK, and the Nordics. Initial tickets are EUR 1–5M with follow-on up to EUR 10M; AENU prefers to co-lead or lead with board representation. AENU's mission is to accelerate the systemic shift toward 'Impact Capitalism' — the conviction that markets, when shaped by purpose and accountability, are the most powerful engine for systemic change. Climate or social impact must be intentional, measurable, and net positive, interlocked with the business model and capable of reaching meaningful scope. The firm's proprietary B Corp-certified Systemic Impact Framework (SIF) embeds climate performance into operations, and approximately 70% of investments are sourced through a thesis-driven, outbound research approach.

Notable quotes

The strong demand for AENU's final closing demonstrates that climate impact investing has emerged from a niche to the mainstream of the Venture Capital market. We are proud to be drivers of the systemic transformation in our industry by open-sourcing our scientific impact-methodology to other managers and delivering unique Impact-as-a-Service to our portfolio companies.

Fabian Heilemann · AENU Fund Close Press Release, aenu.com · 2024-09-11

Our north star is to maximize our impact by finding companies that have the potential to reduce and remove 50 million tons of CO₂ at scale. Since we are committed to advancing the entire climate transition, our approach is collaborative within the VC ecosystem, and we are working alongside impactful NGOs like Leaders for Climate Action, Founder's Pledge, and Clean Air Task Force.

Ferry Heilemann · AENU Fund Close Press Release, aenu.com · 2024-09-11

From founding one of Germany's early unicorns to becoming a leading voice in impact VC, my journey has always been fueled by a sense of urgency. The climate crisis isn't a distant threat — it's a now problem. Building AENU was my answer to the question: How can capital serve the planet rather than just extract from it?

Fabian Heilemann · Impact VC Substack interview, impactvc.substack.com

Recent investments

CompanyRoundSizeDate
MontaSeed
AlcemySeed
AgreenaSeries B$51m
TrawaSeed$11m2024-05-02
ZeroAviaSeries B
GreenlyteSeed2025-09-01
HometreeSeed
UNDOSeed
VoltfangSeed
GalvanySeed2026-06-08

Frequent co-investors

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