Investor profile
Icos Capital
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Icos Capital is a Dutch-based Climate Tech venture capital fund manager that accelerates sustainability by investing in breakthrough technologies capable of delivering reduction and/or avoidance of 1 gigaton of CO2e by 2050. The firm specialises in four verticals: sustainable food systems, chemicals & materials, industry digitization, and carbon technology. Since 2005, Icos has operated a Collaborative Venturing Platform (CVP) that brings fast-growth innovators together with sector-leading corporations — including Bühler Group, Nouryon and Royal Cosun — to provide portfolio companies with growth financing, engineering and production expertise, infrastructure, and market access. Icos IV, the firm's fourth consecutive pure-play Climate Tech fund, targets €100M (hard cap €150M) and is structured as an SFDR Article 9 fund, reflecting the highest level of sustainable investment commitment.
Notable quotes
“Decarbonising to Net Zero is an urgent and complex challenge. By bringing fast growth innovators together with sector leading corporations in our Collaborative Venturing Platform, we are able to facilitate growth financing, engineering and production expertise, infrastructure and market access. We're looking forward to continuing this proven model in Icos IV.”
“The fourth Icos fund continues our proven strategy, targeting Climate Tech winners in hot market segments within decarbonization, food tech, sustainable chemicals & materials, and industry digitization. The fund focuses on decarbonizing industries that account for about 30% of total global emissions. Icos IV is launched as an SFDR Article 9 Fund, noting the highest level of sustainable investment.”
“We are proud to become part of the international investor base of CCSL and to invest in and support the roll-out of its carbon capture and utilisation solution in multiple application markets. For ICOS, carbon capture and utilisation is not only an urgent necessity from a climate change perspective, but it also has huge business potential now and in the near future.”
Team
Eszter Mádai
Investment Analyst
John van Grootel
Chair, Investment Committee
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| Foamlab | Seed | $4m | 2026-04-23 |
| TRACT | Series A | $22m | 2025-10-23 |
| eAgronom | Series A | $10m | 2024-07-02 |
| NapiFeryn BioTech | Seed | $3m | 2023-01-24 |
| Carbon Clean | Series B | $22m | 2020-07-01 |
| Holiferm | Growth | — | — |
| InnovoPro | Growth | — | — |
| NutriLeads | Seed | — | — |
| Squirro | Growth | — | — |
| WholeFiber | Seed | — | — |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| SHIFT Invest | 3 |
| Equinor Ventures | 2 |
| Soulmates Ventures | 2 |
| SmartCap | 2 |
| Capricorn Partners | 2 |
| DOEN Participates | 2 |
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