Climate Venture Capital Fund

Name

Climate Venture Capital Fund

Legal name

2040 Ventures Limited

Website

https://climatevcfund.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Venture Capital Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Climate / Clean Tech & Decarbonization Funds (FSANAJAA)

akta.pro secondary industries

Renewable Energy & Energy Transition Funds (FSANAJAB), Water & Waste / Circular Economy Funds (FSANAJAF), Early-Stage Venture Capital (Series A/B) (FSANAAAB), SDG / Thematic Sustainable Investment Funds (FSANAJAN)

Keywords

• Climate venture capital
• Wholesale investor funds
• Impact investing
• Venture fund management
• Climate-tech investment

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Venture Capital Fund Management: Closed-end climate venture fund series. Climate Fund 2 is a closed-end fund with 8 to 10 year term. Revenue generated from management fees and carried interest on fund returns. Targeting ≥25% IRR for investors. Fund mechanics, terms, and minimum investment disclosed in Information Memorandum (email-delivered after wholesale self-certification).

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Climate Venture Capital Fund is a series of closed-end climate-tech venture capital funds (Climate Fund 1 launched 2021, Climate Fund 2 launched 2025) managed by 2040 Ventures Limited. The funds invest pre-seed to Series B capital in Australasian companies across water, energy, waste, agri-food, industrial process, and marine decarbonisation sectors, targeting ≥25% IRR. Distribution is restricted to wholesale (eligible) investors under New Zealand's Financial Markets Conduct Act 2013 with a NZ$750,000 minimum investment threshold.

Product overview

Climate Venture Capital Fund is a series of closed-end climate-tech venture funds managed by 2040 Ventures. The core offering consists of Climate Fund 1 (2021, NZ's first climate-focused venture fund) and Climate Fund 2 (currently raising, 2025), both targeting ≥25% IRR in pre-seed to Series B companies where decarbonisation is the consequence of commercial advantage. Fund 1 has backed ten active companies across six climate sectors; Fund 2 holds exclusive follow-on rights into the strongest Fund 1 companies plus new deal flow. The Active Investor Plus Visa sub-brand channels international investor capital into the funds. The FY2025 Impact Report provides annual ESG and emissions reporting across the portfolio using IRIS+, ESG_VC, UN SDGs, and Planetary Boundaries frameworks. All investments are governed by an independent Climate Impact Committee of seven experts with veto power over capital deployment.

Differentiator

Problem solved

Functional benefit

Products and services

• Climate Fund 1 New Zealand's first climate-focused venture fund (2021 vintage), investing at pre-seed to Series B in climate-tech companies across water, energy, waste, agri-food, industrial, and marine decarbonisation in New Zealand and Australia. Ten active portfolio companies including Liquium, MGA Thermal, NovoLabs, Cleanery, Zincovery, Aplenty, Teiny, Dot Ingredients, Mara Bio, and Ocean Balance. The fund proved the investment thesis that decarbonisation results from commercial advantage.

Quantifiable outcome

• ≥25% IRR targeted for Climate Fund 2
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Ammonia industry partners (Europe, Australia, North America)coreStrategic or Co-development PartnerLiquium is working with a number of large-scale industrial partners across Europe, Australia and North America under structured validation agreements to validate catalyst performance in real-world production environments. These partners include engineering companies, fertiliser producers, shipping lines, and mining companies. Combined market capitalisation of partners exceeds US$20 billion.
• MacDiarmid InstituteminorStrategic or Co-development PartnerCVCF partner Jez Weston is a co-author of the New Zealand Cleantech Impact Report 2026, sponsored by the MacDiarmid Institute, with contributors from across the ecosystem including CVCF, Ara Ake, Earth Sciences NZ, and Vector.
• Industrial customers (Australia, Europe, North America)coreStrategic or Co-development PartnerMGA Thermal is engaging industrial customers across Australia, Europe, and North America for early commercial deployments of its Electric Thermal Energy Storage blocks. April 2025: first demonstration plant opened, validating block performance at commercial scale.
• Industrial water-treatment customers (Australasia)coreChannel Partner/ Reseller/ DistributorNovoLabs has commercial pilots underway with industrial water-treatment customers across Australasia in food, beverage, and pharmaceutical sectors. Containerised modular units integrate with existing plant infrastructure.

Scale indicators12 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Icehouse Ventures: New Zealand venture platform and co-investor in Zincovery alongside CVCF. Operates early-stage funds targeting NZ tech companies, including climate and deep-tech, with similar wholesale and accelerator-driven distribution.
• Motion Capital: NZ venture firm focused on climate and sustainability. Co-investor in Dot Ingredients alongside CVCF. Closest direct peer given shared climate thesis and seed/Series A cheque size in NZ companies.
• Punakaiki Fund: Sister fund under the same manager (2040 Ventures). Evergreen NZ tech venture fund founded 2014 with 1,000+ shareholders and 18 active investments. Shares the platform, governance and team with CVCF.
• Outset Ventures: NZ deep-tech venture fund and co-investor in Zincovery. Targets pre-seed to Series A deep-tech and science-based companies in NZ — directly overlapping with CVCF's industrial decarbonisation and hardware thesis.
• K1W1 (Tindall Fund): Stephen Tindall-founded NZ impact investment fund. Co-invested in Mara Bio alongside CVCF. Focuses on impact-driven Kiwi companies, providing a comparable LP profile and NZ impact-investor mandate.
• Pacific Channel: NZ deep-tech and climate-tech venture fund. Overlaps with CVCF on hardware-heavy climate investments and similar stage (seed to Series A) in NZ companies.
• Aera VC: NZ early-stage venture fund with climate and impact focus. Comparable cheque size and stage, targeting similar Australasian founders in sustainability and deep-tech.

Broad incumbents

• Blackbird Ventures: Large Australian venture firm with growing climate/sustainability allocation across its later funds. Broader portfolio but overlapping Australasian deal flow and wholesale LP base.
• Breakthrough Energy Ventures: Global climate-tech venture fund backed by Bill Gates and others. Targets companies exactly like Liquium and MGA Thermal. Operates at much larger cheque sizes but sets the bar for institutional climate-venture LP capital.

Regional players

• Climate Capital Syndicate: Australasian climate-venture syndicate/fund. Direct competitor for the same Australasian climate deal flow and impact-aligned LP audience, though operating primarily outside NZ.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/climatevcfund
• LinkedInlinkedin.com/company/punakaiki-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments10 records

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

Frequently asked questions about Climate Venture Capital Fund