Contrarian Ventures launches €100M to invest in climate tech startups

Contrarian Ventures
Image credits: Contrarian Ventures

Contrarian Ventures, a Lithuanian climate tech VC, announced that it has launched its second fund, targeting €100M, to close the funding gap for future climate-tech founders in Europe.

The VC is in the process of fundraising for the new fund and has already completed a significant first closing. The company also announced its intentions to expand across Europe – with bases in London and Berlin.

The top-tier LPs already investing in Contrarian’s second fund include Korys Investments, Molten Ventures, and the Grantham Foundation.

Climate tech investor

Founded in 2017 by Rokas Peculiatis and Tomas Kemtys, Contrarian has invested in 21 deals with its first fund, including three exits, and co-invested with more than 100 investors from large generalist VCs to smaller, sector-specific ones.

With the new fund, Contrarian Ventures aims to support an entire generation of founders in the climate sector who are often left out by generalist VCs too focused on investing in established technologies in the short term.

Contrarian is looking to become one of the most impactful players in the climate tech sector and is looking to triple the size of its team by expanding its investment team and adding roles in market research and platform management.

David Trainavicius, PVcase Founder and CEO, says, “Our continued partnership with Contrarian Ventures has been crucial to PVcase’s sustained growth success. Their experience in scaling climate tech startups has made them the ideal partner to work with from our beginning early stages. It’s a breath of fresh air to work with like-minded investors as dedicated to fighting climate change as we are and treat us as a true partner. “

Contrarian Ventures co-founder Rokas Peciulaitis says, “We are the climate generation. We’ve never known a world where global warming hasn’t been a spectre, yet we’re the first to have the knowledge, expertise, and tech to drive real change. But we must focus on the world in 2050, not just 2030. Climate tech will be one of the most lucrative and important investment opportunities for the next 30 years. However, European entrepreneurs are still heavily underfunded and underrepresented at the Seed stage. That’s why we’re launching today’s fund to close this funding gap for future climate-tech founders and mobilise the resources needed for climate action while continuing to build a firm that becomes the top choice for climate tech entrepreneurs.”

Mohadeseh Abdullahi, an investor at Molten Ventures, says, “With a direct focus on the climate sector at the seed stage, coupled with its impressive team in an exciting territory, Contrarian enjoys a unique perspective on the market and its opportunities. It has built a strong reputation in this space and has developed a brilliant and deep-knitted network of technical experts and advisors. We are delighted to welcome Contrarian to our Fund of Funds programme.”

Brieuc de Hults, Investment Director at Korys Investments, says, “We were very impressed by the Contrarian team and what they have already achieved with their first fund. They invested in great founders and managed to develop great networking opportunities such as the Energy Tech Summits to position themselves as leaders in seed investments within the energy transition. The energy transition is at the core of our DNA, and their investment scope aligns with ours. We are thrilled to see what they will achieve with their second fund and are very pleased to support them achieving their sustainability goals with a commitment at their first closing.”

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