European Investment Fund commits €40 million to Climentum Capital Fund II

EUROPEAN INVESTMENT FUND/CLIMENTUM:

• The European Investment Fund (EIF) has committed €40 million ($45.81 million) to Climentum Capital Fund II, a Danish venture capital fund investing in early-stage climate technologies across Europe, the parties involved said on Friday.

• Founded in Copenhagen in 2022, Climentum Capital specialises in early-stage investments in businesses developing technologies that can reduce the carbon footprint of sectors responsible for a large share of Europe's emissions of greenhouse gases.

• "Climentum Capital Fund II addresses an important financing gap by supporting entrepreneurs building climate solutions for the real economy," said EIF Deputy Chief Executive Merete Clause in a statement.

• Europe's recent heatwave has highlighted persistent concerns over climate change and extreme temperatures.

• The EIF is a subsidiary of the EU's European Investment Bank.

• ($1 = 0.8731 euros)