The Institut Català de Finances (ICF) has approved an investment of €3 million in Inclimo Climate Tech Fund, a fund dedicated to promoting the development of technological solutions for decarbonisation. This investment reflects the commitment of the Generalitat's public promotion bank to sustainability and innovation, and aims to support companies in seed and series A stages that are at the forefront of the fight against climate change.

Inclimo Climate Tech Fund is a fund that focuses on identifying and financing start-ups that develop disruptive technologies for carbon emission reduction. With this investment, the ICF seeks to promote the creation and growth of startups that provide effective and scalable solutions to current environmental challenges.

"The approval of this investment is an important step to strengthen our commitment to sustainability and support for technological innovation in Catalonia," said Vanessa Servera, CEO of the ICF. "Support for sustainability is one of the strategic and priority lines of Catalan public banking. We strongly believe that by supporting companies that are in the early stages of development, we can foster a robust entrepreneurial ecosystem to contribute significantly to decarbonisation goals," he added.

In fact, recently, the ICF announced an investment of 6 million euros in the SC Net Zero Ventures fund to promote scale-up projects that develop technologies aimed at the decarbonisation of mobility, industry and the energy sector.

Inclimo Climate Tech Fund has demonstrated a strong focus on identifying startups with high potential for positive environmental impact. This fund has become a benchmark in the climate technology sector, attracting investors who share the vision of a more sustainable future.

"We are delighted to have the support of the Institut Català de Finances," said Fernando Casado, CEO of Inclimo Climate Tech Fund. "This investment not only allows us to continue supporting innovative startups, but also strengthens our mission to accelerate the transition to a low-carbon economy in Catalonia."

Inclimo Climate Tech Fund is registered as an Article 9 fund, according to the SFDR (Sustainable Finance Disclosure Regulation) regulation of the European Union. This means that it is categorized as a fund that has explicit sustainability goals, specifically dedicated to investments that promote sustainable activities, with a primary focus on decarbonization and the fight against climate change.

So far the fund has made five investments, three of them in Catalan, one German and one Norwegian companies.

The five investments made so far have been GoTrendier, the second-hand clothing marketplace that connects buyers and sellers of women's fashion in Latin America; Cardino, a German digital platform specialized in the purchase and sale of used electric cars, offering appraisal, financing and warranty services to facilitate transactions; Ocean Ecoestructures, a company that develops innovative solutions for sustainable marine infrastructure, focused on the conservation and restoration of ocean ecosystems; Tennders, a company that designs software for the digital management of freight transport to accelerate the transition to sustainable transport logistics; and Soren Hydrogen, a Norwegian company dedicated to the development and production of advanced digital solutions for the generation, storage and distribution of green hydrogen.

This contribution to the Inclimo Climate Tech Fund has also been complemented by the investment of an additional €3.2 million in private capital from Family Offices, which are committed to the transition to a more decarbonised and sustainable economy. The fund, which closed for the first time in May 2023 with €20 million, continues with its capital raising process with the expectation of closing definitively this year. 

The Inclimo Climate Tech Fund is promoted by The Climate Hub SGEIC, a capital fund manager based in Barcelona and participated by Antai Ventures, Sorigué and Fernando Casado. Its objective is the creation of venture capital vehicles that invest in exceptional teams that through technology create systemic changes to contribute to the decarbonization of society. 

For its part, the Institut Català de Finances remains committed to promoting initiatives that promote sustainability and economic development in Catalonia. Through this strategic investment, the ICF reaffirms its role as a catalyst for change towards a more sustainable and environmentally friendly economic model.