360 Capital Launches New €140M Climate Tech Fund

VC firm 360 Capital has successfully closed its new climate tech fund, 360 LIFE II, with an initial raise of €140 million. The fund aims to support startups focused on innovative solutions to address climate challenges, marking a significant step in the firm’s commitment to sustainability and green technologies.Among the key contributors, CDP Venture Capital committed €44 million as an anchor investor. Additionally, De Nora, a global leader in clean technologies, joined as both an anchor investor and an industrial partner, contributing €10 million. Bpifrance also came on board as an institutional partner, further strengthening the fund’s backing.

The 360 LIFE II fund is poised to fuel the growth of companies developing cutting-edge solutions in sectors such as renewable energy, energy efficiency, and sustainable industrial practices. With the backing of such prominent investors, the fund is positioned to play a crucial role in the transition to a more sustainable and environmentally friendly future.At the helm of 360 LIFE II are partners Cesare Maifredi, Alexandre Mordacq, Alessandro Zaccaria, and Thomas Nivard, who bring extensive experience and expertise to the fund’s mission. As part of their investment strategy, they are focused on advancing innovative technologies within the circular economy and energy transition sectors.

360 LIFE II is poised to make strategic investments that foster innovation in these critical sectors, positioning it as a key player in the global push toward sustainability. Through this focused approach, the fund aims to contribute to the scaling of transformative solutions that can drive lasting environmental and societal impact across Europe.Cesare Maifredi, Partner at 360 Capital, emphasized the importance of investing in multidisciplinary deeptech startups to effectively tackle climate change. He explained, "Multidisciplinary deeptech startups offer the best chance to deliver truly transformative solutions to climate change. At 360, we’ve spent over a decade making bold investments in frontier technologies, never shying away from hardware or complex engineering challenges.

We’re proud to back visionary founders leading the ecological transition through breakthrough innovations."Maifredi also highlighted the value of collaborating with industrial partners such as A2A and De Nora to leverage their expertise in driving sustainable solutions. "Investing in these sectors requires solid expertise, which is why we collaborate with industrial partners like A2A and now De Nora. This new fund represents another opportunity to pair our pursuit of strong financial returns with a tangible commitment to building a sustainable and resilient future." This approach reflects 360 Capital’s dedication to fostering innovation while aligning financial success with positive environmental impact.

Renato Riservato, CEO of A2A, highlighted the significance of the company's Corporate Venture Capital (CVC) initiative in climate tech, stating, "With this initiative, A2A establishes itself as a leader in Italy in Corporate Venture Capital dedicated to climate tech. Our CVC program oversees approximately €80 million and six funds that have collectively invested in over 60 Italian and European startups." He emphasized that innovation is a key driver for business growth, referencing a report on European competitiveness by Mario Draghi. "Innovation is essential for business growth, as highlighted in the recent report on the future of European competitiveness presented by Mario Draghi to the European Commission," said Riservato.

For A2A, innovation plays a central role across its business areas, alongside its commitment to decarbonization and energy autonomy. "For our Group, it serves as a strategic pillar across all our business areas, alongside decarbonization and energy autonomy," he added. A2A’s Industrial Plan extends to 2035, and part of its strategy includes continuously investing in emerging technologies. "This new fund will provide further momentum for startups to develop projects that can make a tangible contribution to the ecological transition of the country—an effort that A2A is fully committed to supporting."

360 Capital, with its deeptech and climate tech focus, plays a complementary role in this mission. The firm’s portfolio includes high-growth companies such as Exotec (France’s first industrial unicorn), Preligens (acquired by Safran), and Alsid (acquired by Tenable), demonstrating its successful track record. Since 2018, the firm has completed 28 exits, underscoring its impact in fostering innovative startups in the deeptech and climate tech sectors.