Climentum Capital Fund II

Climentum Capital

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Status

ACTIVE

Global HQ

Copenhagen, Denmark

Countries of investment

Denmark
Sweden
Norway
Finland
Germany
Netherlands
France
United Kingdom
Spain
Italy
Poland
Switzerland

Investment stages

Seed
Series A

Industries

ClimateTech
Hard Tech
Energy
Industrial Efficiency
Supply Chain
Advanced Materials
Robotics
AgTech
Circular Economy
Decarbonization

About
Climentum Capital is a Copenhagen-based venture capital firm focused on backing European hard tech founders strengthening industrial resilience. Their focus spans ClimateTech, hard tech, energy, and industrial efficiency across Denmark, Sweden, Norway, Finland, Germany, Netherlands, France, United Kingdom, Spain, Italy, Poland, and Switzerland. The firm supports climate founders from seed through Series A stages.

Min check size: $1M
Max check size: $5.4M
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Investment Thesis

Climentum Capital is a seed and Series A stage venture capital firm deploying capital across ClimateTech, hard tech, energy security, industrial efficiency, and supply chain sovereignty sectors. They lead seed and Series A rounds in European hard tech companies that strengthen industrial resilience and competitiveness. The firm differentiates itself through Nordic and pan-European operator networks, backing companies addressing structural challenges in energy transition, food systems, and industrial decarbonization.

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Manager's Experience

Co-founded in 2020-2022 by Morten Halborg (Managing Partner, Copenhagen), Stefan Mård (Impact Partner, Copenhagen), and Dörte Hirschberg (Investment Partner, Berlin). Additional General Partners include Yoann Berno (Investment Partner, Berlin) and Malin Carlstrom (GP, Stockholm). One of the most gender-balanced VC organizations in Europe (40% female partnership). Backed by BASF Venture Capital, Vaekstfonden, Arbejdernes Landsbank, and Nordic pension funds. First fund closed at €157M in 2022, targeting €150M. Operates from offices in Copenhagen, Berlin, Stockholm, and Oslo. Structured as an Article 9 fund under EU Sustainable Finance Disclosure Regulation with dual carry model requiring both financial returns (3x fund lifetime target) and measurable CO2 emissions reduction. Fund II targeting €100M expected launch in 2026.