Algebris Climatech Launches €60M Fund For Green Tech

Algebris Investments, a renowned global asset management firm, has announced the launch of its inaugural venture capital fund, Algebris Climatech, marking a significant step in its commitment to sustainability and innovation. The fund has secured the support of major institutional investors, including Italian pension funds and CDP Venture Capital, through allocations from the European Union's NextGenerationEU program, with an initial close of around €60 million. This milestone fits into Algebris' broader green transition initiative, established in 2021 under the leadership of Valerio Camerano, as the firm continues to champion transformative climate and deep tech solutions.

The primary focus of Algebris Climatech is to target high-growth companies in climate tech and deep tech sectors that are critical to Europe’s green transition. The fund’s thematic investment strategy emphasizes industries such as energy, materials, industrials, and food—key pillars of a sustainable future. By investing in innovative projects, often rooted in university research, Algebris Climatech aims to provide companies with the necessary resources and expertise to expand and thrive in competitive markets.

Marco Turchini, Managing Partner at Algebris Climatech, expressed his enthusiasm for the venture, emphasizing the fund’s unique position to harness opportunities in Europe’s burgeoning climate and deep tech sectors. “Our aim is to build an international venture capital platform that is founder-friendly and supports Italy’s small business growth,” Turchini stated. Highlighting the fund’s objectives, he noted its ambition to assemble a portfolio of 15-20 transformative companies with the potential to lead their respective categories.

To achieve this vision, Algebris Climatech plans to collaborate with international co-investors, with the ultimate goal of raising €100 million. The fund also emphasizes a hands-on approach to guiding its portfolio companies, leveraging the extensive expertise of its leadership team. Comprising industry veterans Alessandro Santo, Stefano Ferrari, and Marco Turchini, the team brings over 40 years of combined experience as technology investors, founders, and managers. Together, they have invested in over 50 startups, supplying them with the insights and networks in order to identify these opportunities and nurture their growth trajectories.

Algebris Climatech is an Article 9 fund under the EU Sustainable Finance Disclosures Regulation (SFDR), which validates its commitment to sustainability. This classification is reserved for funds with explicit environmental, social, or governance (ESG) objectives, reflecting Algebris’ dedication to driving meaningful impact in the climate tech and deep tech sectors. Incorporated under Luxembourg law, the fund is exclusively available to professional investors, further reinforcing its focus on fostering impactful collaborations within a highly specialized investment community.

The launch of Algebris Climatech represents a natural extension of Algebris Investments’ broader mission. Founded in 2006 by Davide Serra, Algebris has established itself as a global leader in financial sector equity and credit, managing approximately €28 billion in assets as of November 2024. Over the years, the firm has expanded its expertise to include sustainable investments and private strategies, operating offices in major financial hubs worldwide. This diversification highlights Algebris’ proactive approach to addressing evolving market dynamics and investor priorities.

Commenting on the fund’s broader vision, Turchini underscored Algebris Climatech’s potential to catalyze sustainable growth across Europe. “We are proud to launch the first venture capital initiative of Algebris Investments. Thanks to our extensive experience and synergies within the wider Algebris group, we are well-positioned to make a significant impact,” he remarked. The fund’s emphasis on supporting Italy’s small business sector while contributing to Europe’s sustainability goals reflects a dual focus on economic development and environmental stewardship.

Indeed, against the backdrop of further emphasis on the green transition in Europe, funds like Algebris Climatech are going to be critical levers for accelerating innovation that addresses some of the most critical challenges in climate and deep tech sectors. It is looking to create such founder-friendly conditions, partner with international stakeholders, and leverage them to drive meaningful change while delivering strong returns for its investors.

The fund’s strategic approach, combined with its experienced leadership and robust institutional backing, positions it as a key player in the pursuit of a sustainable future. With the initial success of its €60 million close and plans to expand further, Algebris Climatech represents not only a significant milestone for Algebris Investments but also a testament to the transformative potential of venture capital in addressing some of the most pressing challenges of our time.