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Climentum Capital

DEDKSENOGBFRATCHFIClimateDeep TechB2B SaaSEnterpriseAI/ML

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Investment thesis

Climentum Capital is an Article 9 climate tech venture fund leading Seed and Series A investments in European B2B hard tech companies that cut emissions at the core of industries. The firm focuses on hardware and deep-tech solutions — augmented by software — across six high-emission sectors: energy security and industrial electrification, industrial efficiency and decarbonisation, and supply chain sovereignty and circular manufacturing. With teams across the Nordics and Germany, Climentum writes €1–5M initial tickets targeting ~10% ownership and reserves 50% of each fund for follow-ons. The fund operates a dual-carry structure tied to both financial returns and verifiable CO₂ savings, deliberately avoiding hyped sub-sectors and green-premium business models in favour of solutions with fundamental industrial value propositions.

Notable quotes

The fundraising environment for early-stage climate HardTech has not been easy in recent years. Investors are more selective, timelines are longer, and the proof bar is higher. That is why the composition of the Fund II launch matters: our investor syndicate reflects informed conviction, not momentum investing.

Morten Halborg · EU-Startups / Climentum Capital Fund II announcement · 2026-07-03

With the exponential speed of technological advancements in the last decade, fusion is now moving from being a research project to an industrialization phase ambition. Hence, we should not only consider the possibility of continuous fusion taking place but also the competitiveness of the calculated cost of energy. The NOVATRON concept shows prospects of success in both areas.

Malin Carlström · EU-Startups — Novatron Fusion Group €5M seed round announcement · 2023-08-01

The world has moved toward that strategy faster than we expected: war in Ukraine, instability across the Middle East. Supply chains that no longer feel guaranteed and an unpredictable US policy environment. The priorities we built the fund around have become strategic and financial necessities.

Morten Halborg · Climentum Capital LinkedIn — Fund II first close announcement · 2026-07-03

Team

Dörte Hirschberg

General Partner

ClimateDeep TechEnterprise

Jennifer Dungs

General Partner

ClimateDeep TechB2B SaaS

Morten Halborg

General Partner

ClimateDeep TechEnterprise

Nathalie Öhlander

Principal

ClimateFintechEnterprise

Stefan Mård

General Partner

ClimateDeep Tech

Recent investments

CompanyRoundSizeDate
Nature RobotsSeed2026-03-05
one.fiveSeries A2026-01-19
Rail-FlowSeed2025-12-03
EnerinSeries A$16m2025-11-26
Scale EnergySeed$2m2025-02-21
Novatron Fusion GroupSeries A2025-03-20
QvantumSeries C$108m2025-01-08
Aegir InsightsSeries A$9m2024-11-01
Jolt (Specialty Chemicals)Series B2024-12-29
KNXT (Kärnfull Next)Seed2022-01-01

Frequent co-investors

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