What Inclimo Climate Tech Fund does

Inclimo Climate Tech Fund is a Barcelona-based venture capital fund launched in 2023 by The Climate Hub, SGEIC S.A., co-founded by Sorigué, Antai Ventures, and Fernando Casado Cañeque. The fund targets early-stage climate tech startups across Southern Europe, with an initial target of €40 million in committed capital to deploy across approximately 25 companies. It operates a high-conviction, concentrated portfolio model spanning EnergyTech, Circular Economy, Transport & Mobility, AgroTech, PropTech, Blue Economy, and Datatech verticals. The fund is among the first in Southern Europe classified under Article 9 of the EU Taxonomy and is a PRI signatory, positioning it as an institutional-grade sustainable investment vehicle.

The fund's core technology assets are proprietary impact management tools provided to portfolio companies: an SDG Alignment Tool, a Paris Agreement-aligned Decarbonisation Strategy Tool, an ESG Strategy Design Tool, and an Impact Metrics Platform that quantifies GHG emissions reduced/substituted, energy performance, water performance, and resource performance across the portfolio. These ESG and impact measurement tools distinguish Inclimo operationally from pure financial VCs, though the underlying methodology is impact accounting rather than artificial intelligence. Deal sourcing is reinforced by the Climate Dialogues community initiative co-organized with BStartup de Banco Sabadell, Zubi Labs, and Norrsken Barcelona.

The fund's revenue model follows standard VC economics: management fees on committed and deployed capital plus carried interest on portfolio exits. Customer segments are dual-sided—early-stage climate tech startups receive capital and operational tooling, while Limited Partners (Sorigué, Antai Ventures, AXIS, ICF/Institut Català de Finances, and a group of family offices) access a regulated, Article 9 EU Taxonomy-classified investment vehicle. Go-to-market is direct and relationship-driven, with limited public pricing disclosure as terms are negotiated privately with LPs.

Name

Inclimo Climate Tech Fund

Legal name

The Climate Hub, SGEIC S.A.

Website

https://inclimo.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

Inclimo Climate Tech Fund is a Barcelona-based venture capital fund investing in early-stage Southern European climate tech startups via a €40M target fund, Article 9 EU Taxonomy classified, offering portfolio companies proprietary ESG and impact measurement tools alongside capital.

Ownership category

akta.pro rank

Product category

Venture Capital / Climate Tech Investment Management

NAICS

Other Financial Vehicles (52599)

SIC

Investment Advice (6282)

akta.pro primary industry

Climate / Clean Tech & Decarbonization Funds (FSANAJAA)

akta.pro secondary industries

Sector-Specific Net-Zero Pathways & Benchmarking (hard-to-abate methodologies) (EUABAKAI), Accelerators & Incubators (Investor-Operated) (FSANAAAM)

Keywords

• Venture capital fund
• Climate tech investments
• Early-stage startups
• Impact investing
• Sustainable finance

Headquarters

HQ city

Barcelona

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Venture Capital Fund Management: Inclimo generates returns through a traditional VC model: management fees on committed capital during the fund's investment period and deployed capital, plus carried interest (performance fee) on profits generated from portfolio exits. Revenue is dependent on successful deployment and exit of portfolio investments.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Inclimo Climate Tech Fund is a venture capital fund managed by The Climate Hub, SGEIC S.A., that invests in early-stage climate tech startups across Southern Europe. The fund deploys equity capital into companies developing decarbonization solutions across sectors such as EnergyTech, Circular Economy, Transport & Mobility, AgroTech, PropTech, and Blue Economy. Portfolio companies also receive proprietary impact management tools covering SDG alignment, Paris Agreement-aligned decarbonization strategy, and ESG strategy design.

Product overview

Inclimo Climate Tech Fund is a single unified investment fund managed by The Climate Hub, SGEIC S.A. that provides venture capital investment services to climate tech startups. The fund offers portfolio companies access to proprietary management tools including the SDG Alignment Tool, Decarbonisation Strategy Tool, and ESG Strategy Tool, which are designed to help invested companies improve their economic growth and climate impact. Additionally, the fund publishes Impact Metrics including CO2 emissions reduced and substituted, and organizes Climate Dialogues events for ecosystem networking. The fund is classified under Article 9 of the European Union Taxonomy, aligning investments with measurable environmental goals.

Differentiator

Problem solved

Functional benefit

Products and services

• Inclimo Climate Tech I Fund Venture capital fund targeting early-stage climate tech startups in Southern Europe with a target size of €40 million. Available to institutional investors, family offices, and limited partners as a private fund investment vehicle classified under Article 9 of the EU Taxonomy.

Quantifiable outcome

• Over 250 plants across Europe and Latin America designed using Humara software, with customers reporting over 70% cost savings.
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered minor and core.

• SpainNABminorOthers · 23 October 2025Inclimo joined the SpainNAB Code of Good Practices, aligning its impact management with national standards for impact investing in Spain.
• BStartup de Banco SabadellcoreGTM or Marketing Partner · 1 November 2024BStartup de Banco Sabadell co-organizes the Climate Dialogues initiative with Inclimo, BStartup, Zubi Labs, and Norrsken Barcelona. The program brings together climate tech investors and entrepreneurs to foster innovation and decarbonization solutions in Barcelona.
• Zubi LabscoreGTM or Marketing Partner · 1 November 2024Zubi Labs co-organizes the Climate Dialogues initiative alongside Inclimo, BStartup de Banco Sabadell, and Norrsken Barcelona, promoting Barcelona as a climate tech innovation hub and supporting deal flow generation.
• Norrsken BarcelonacoreGTM or Marketing Partner · 1 November 2024Norrsken Barcelona, part of the Norrsken Foundation supporting impact entrepreneurs, co-organizes Climate Dialogues with Inclimo, BStartup de Banco Sabadell, and Zubi Labs to build a collaborative climate tech ecosystem.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Kibo Ventures: Spain-based venture capital firm investing in technology-enabled startups across Southern Europe. Comparable Spanish geographic focus and early-stage technology orientation, though broader sector mandate than Inclimo's climate-tech specialization.

Direct peers

• 2150: Copenhagen-based VC investing in technologies that reshape the built environment for climate impact. Comparable early-stage climate-tech thesis across European urban infrastructure sectors.
• Extantia Capital: Berlin-based climate-tech VC backing decarbonization and climate-adaptation startups across Europe. Similar fund size, stage, and pan-European early-stage climate-tech positioning make it a direct comparable.
• Ship2B Ventures: Barcelona-based impact VC fund investing in Spanish and European impact startups. Direct comparable given overlapping portfolio co-investments (Humara, Ocean Ecostructures), Spanish geography, and impact-mandate focus.
• Contrarian Ventures: Lithuania-based early-stage venture capital firm investing exclusively in climate-tech startups across Europe. Highly comparable to Inclimo in fund size, sector focus, and seed/Series A stage.
• Pale Blue Dot: Malmö-based climate-tech VC investing in seed and Series A startups tackling climate change. Comparable European footprint, early-stage thesis, and climate-only mandate align closely with Inclimo.
• Clean Energy Ventures: Belgium-based early-stage VC focused on bold, science-driven climate solutions. Comparable seed-stage climate-tech mandate and European geographic orientation.
• Zubi Capital: Spanish impact investment group focused on climate, sustainability, and social ventures. Comparable Spanish footprint, impact mandate, and recurring co-investment relationship with Inclimo in climate deals.

Broad incumbents

• Breakthrough Energy Ventures: Bill Gates–backed, multi-billion-dollar climate-tech VC fund investing globally at scale. Comparable climate-only thesis but vastly larger fund size, longer operating track record, and global deal sourcing capacity.
• Energy Impact Partners: US/global VC and private equity firm focused on the decarbonization of energy. Overlapping climate-tech mandate across the energy stack; substantially larger AUM and broader sector scope than Inclimo.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/InclimoFund
• LinkedInlinkedin.com/company/inclimo

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments18 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Inclimo Climate Tech Fund