In brief: EIF hands €25m to seed-stage climate VC Contrarian Ventures

The European Investment Fund is ramping up its climate-focused investments, aiming for it to comprise 25% of the fund's activities by 2024.

The European Investment Fund has committed €25 million to seed-stage climate technologies via Contrarian Ventures. The capital will form a large part of climate tech-focused venture capital firm Contrarian’s second fund, which has a €75 million target and €100 million hard-cap.

EIF is ramping up its support of climate and environment-related projects: it aims for this sector to comprise 25 percent of its activities by 2024 – up from its 16 percent target for 2022, according to an emailed press release. “Investing in clean tech is a key area of EU policy focus and Contrarian Ventures is a highly promising player in this burgeoning space,” EIF chief executive Marjut Falkstedt said in the press release.