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Climate Tech Portfolio Fund IV

Companies
150+
Funds
7-10
Minimum
€100K
Target net return
12-15% IRR
Target size
€150m
Lifetime
12 years
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Our investment strategy

Fund IV will execute a similar strategy to Funds I-III, with more exposure to co-investments.

Balanced diversification
Fund IV allocates 80% to top-tier climate-focused funds and 20% to high-conviction co-investments—providing both diversification and direct exposure to standout companies.
Growth-stage opportunities
The majority of the portfolio (60–90%) targets early to late growth stages (Series B and beyond), where companies have strong traction and scaling potential.
Global outlook
Investments span North America (60%) and Europe (40%), tapping into innovation hubs while anchoring in the regions we know best.

Enable breakthrough climate solutions

Diversify with 150+ pioneering climate tech companies shaping the future. Explore those already part of Climate Tech Portfolio Fund IV by creating an account.

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    As a global leader in the green hydrogen space, Sunfire is on a mission to expand the impact of clean power by turning it into renewable gases and liquids.

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    Mainspring is developing a clean on-site power generation technology that enables affordable and reliable electricity while providing flexibility to the grid.

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    Luxwall's Net Zero Glass improves energy efficiency for existing buildings, reducing utility costs as well as carbon emissions.

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    Metafuels powers the future of aviation with sustainable aviation fuel (SAF), to help make affordable low carbon aviation a reality.

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    This US-based company was founded out of the Massachusetts Institute of Technology (MIT), which turned into a commercial mission to decarbonize cement.

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    Noon Energy is developing a low-cost battery for medium-duration electricity storage. It accelerates the energy transition by fixing the intermittency problem of renewable energy.

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    Ampd energy aims to enable a smart, fully automated, emissions-free and connected construction site by providing smart batteries to manage energy usage onsite.

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    Swap is bringing healthy and affordable plant-based meat alternatives for people who want to reduce their meat consumption without compromising taste or texture.

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    Koloma is a US company in stealth mode with a mission to extract naturally occurring hydrogen that is continuously generated underground.

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    Miraterra is a sustainable agriculture company pioneering the use of Raman Spectroscopy and machine learning to create a highly accurate, cost-effective soil measurement tool.

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    CF Pathways aims to help large companies navigate their net zero transitions by providing comprehensive sustainability services and energy solutions.

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    Disperse is on a mission to make the construction industry more efficient and sustainable through productivity systems, which can effectively track and help manage construction activities.

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    Twelve is on a mission is to eliminate global emissions and build a fossil-free future by making the world’s most critical chemicals, materials, and fuels from CO2.

Your expected cash flow

The amount you invest influences your cash flow. We require an initial transfer of 25% of your committed amount, with a minimum of €100,000.

Our track record

We’re the most specialised climate fund selector globally. Since 2021, we’ve committed more than €300 million to 25+ climate funds.

1250
+
Investors
300
m
Assets under management
200
+
Companies invested in
9
Carbon Equity funds

Our investment strategy

Balanced diversification across fund types

Fund IV allocates 80% to top-tier climate-focused funds and 20% to high-conviction co-investments—providing both diversification and direct exposure to standout companies.

Strong tilt toward growth-stage opportunities

The majority of the portfolio (60–90%) targets early to late growth stages (Series B and beyond), where companies have strong traction and scaling potential.

Global outlook with a European foundation

Investments span North America (60%) and Europe (40%), tapping into innovation hubs while anchoring in the regions we know best.

Target net return
12-15% IRR
Duration
12 years
Min. investment
€100K
Target size
Amount raised
Target size
€150m
Raised

Enable breakthrough climate solutions

Diversify with 150+ pioneering climate tech companies shaping the future. Explore those already part of Climate Tech Portfolio Fund IV by creating an account.
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How does it work?

Request key fund info

Start by requesting access to the fund documentation (i.e. fund deck and term sheet). Our investment team will reach out for a short intro call and answer any questions.

Request your allocation

Once you are ready to invest, click on the “Request your allocation” button here or in an email from us. Once your allocation is confirmed, your spot in the fund is officially reserved.

Formally onboard

All confirmed investors will then be contacted to identify themselves and get onboarded into our Investment Dashboard.

Terms, Conditions & Legal

Target fund size
Target size
Amount raised
€150m
Target Return
12-15% IRR
Minimum ticket size
€100K
Setup Fee (One-off)
Annual Management Fee
Start Raise
Next Close
Final Close
Investment Period
Fund Lifetime
12 years

Frequently asked questions

How does the typical Carbon Equity investment work?
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Carbon Equity only offers top-tier private market funds with a focus to decarbonize the planet. We pool investments through our Carbon Equity investment vehicles. This means that all cash transfers, fees and expenses are paid through our investment vehicles. Carbon Equity represents you as an investor towards the underlying funds. To ensure secure and efficient fund investment & management we work with best in class partners such as AssetCare, Finnius, Zuidbroek and Amstone.

What is the difference between Carbon Equity funds?
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Carbon Equity offers Portfolio Funds. Portfolio Funds provide access to a curated selection of 5–10 top-tier climate venture capital, private equity and infrastructure funds and companies. This structure offers broad diversification across sectors, geographies, and stages of company growth.

Climate Tech Portfolio Funds: Invests in 7-10 top-tier VC and PE funds, eventually gaining exposure to over 150 climate tech companies across early to late stages, primarily in the US and EU. Target net IRR: 10-15%

Climate Infrastructure Funds: Focuses on 40–50 infrastructure projects like battery storage and renewable energy, with 75% exposure in Europe. Target net return: 10-12%. 

Access to Climate Tech Funds: Aims to invest in 5–7 VC, PE, and infrastructure funds, covering a full suite of climate solutions. Target net IRR: 8–12%.

What types of companies does Carbon Equity invest in?
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Carbon Equity invests in high-growth climate tech companies. These are companies developing products and/or services that are part of the solution to reaching net-zero CO2 emissions. Like next-generation solar panels, fermented proteins, zero-carbon fuel for aviation, and geothermal energy generation. You can find all our portfolio companies here.

There are seven sectors that Carbon Equity invests in: energy, industry, agrifood, transportation, buildings, carbon control and enablers. Each of these sectors have a critical role to play to get to net-zero CO2 emissions.

How is this different from stock market investing?
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When you invest in the stock market, you are investing public companies. A public company is one that has held an initial public offering (first sale of stock to the public) and whose shares can be bought, sold or traded on a stock exchange.

Carbon Equity focuses on private equity, which is an asset class focused on acquiring ownership stakes (equity) in privately held companies (i.e. not listed on a stock exchange). The investment horizon, cash flows and other investing dynamics are different within private equity compared to stock marketing investing. You can read more about that in the how it works section below.

How do you measure impact?
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First, we assess how committed a fund is to impact. Funds can prove their impact commitment to investors in several ways, including its impact mandate, impact goal, impact thresholds, impact sourcing and impact incentives. Then, we thoroughly vet a fund on its climate impact. We do so using our proprietary climate impact scorecard that requires input on 40+ questions across 12 topics.

Climate Tech Portfolio Fund IV

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The information on this website is not an official offer to buy or invest in the funds of Carbon Equity B.V. nor does it function as a prospectus for such investment. The information on this website should not be used or relied on for purposes of any contract with, commitment to or investment into funds managed by Carbon Equity B.V. or its affiliates. The information on this website might have legal, regulatory or other limitations in certain jurisdictions. Carbon Equity B.V. asks visitors who view this information to become familiar with and obey rules applicable to them. Carbon Equity B.V. does not accept liability for violation of such rules by anyone browsing this website, even if that person is considering investing.

Offering of funds managed by Carbon Equity B.V. will be available to potential investors via a separate and dedicated account environment, which is clearly indicated as such. Investors should take note that investments are offered in a limited number of accepted jurisdictions and only to certain types of (primarily professional or semi-professional) investors. Investors will be required to commit to an initial investment of at least EUR 100,000 (or higher, as the case may be), unless an exemption applies.

Carbon Equity B.V. will act as the Alternative Investment Fund Manager (AIFM) of its funds and it is fully licensed pursuant to article 2:65 of the Dutch Financial Supervision Act (Wet op het financieel toezicht). Carbon Equity B.V. and the funds it manages are subject to supervision by the Authority for the Financial Markets (Autoriteit Financiële Markten) in the Netherlands. Carbon Equity B.V. is registered with the Authority for the Financial Markets with registration number 15005329. The license allows Carbon Equity B.V. to manage investment funds which invest in one or more funds. Neither Carbon Equity B.V. nor the funds it manages are subject to regulatory supervision by any other regulatory authority than the Dutch Authority for the Financial Markets.

Carbon Equity B.V. does not offer investment advice. Nothing here or elsewhere should be seen as a recommendation for any investment in any security. The fund documents, available via our dedicated account environment, outline potential risks, charges, and expenses. Please review these risk warnings and disclosures carefully. Investments into private equity are speculative and risky. The value of investments can vary over time. Investments into private equity have a long horizon (exceeding 10 years) with no or limited liquidity. If you cannot afford to potentially lose your full investment, it is best not to invest. Past performance does not guarantee future returns. Investing in a private equity fund is not comparable to a deposit with a bank."