How many investments has Carbon made?

Carbon has 56 tracked investments, 1 of which have exited via acquisition or IPO.

What stage does Carbon invest at?

Carbon invests at the Seed, Series A, Series B, Growth, Late Stage stages.

What is Carbon's typical check size?

Carbon typically writes checks of $100K.

Where is Carbon located?

Carbon is headquartered in Amsterdam, NL.

Does Carbon lead rounds?

Carbon has led 3 of the 5 rounds where its role is on record.

Who does Carbon co-invest with?

Carbon most often shares deals with 2150, Energy Impact Partners, ACTIVATE CAPITAL PARTNERS, among 200 tracked co-investors.

Carbon

Fund of fundsoperating company · company profile

Amsterdam · Seed–Late Stage · 36 people tracked

Also known as Carbon Direct Capital Management Llc

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Find your way into Carbon

2,497 people in our graph share verified history with the Carbon team — schools, employers, funds. One of them is your warm intro.

Iris Wiggersunlockedknows Bas van Beijeren · together at ABN AMRO Bank N.V. (overlapped)

×4knows the team · via PwC

knows the team · via University of Amsterdam

knows the team · via YPO

knows the team · via World Economic Forum

knows the team · via McKinsey & Company

✨ Fox Verdict

Investment thesis

Carbon Equity builds fund-of-funds portfolios that let investors gain diversified exposure to breakthrough climate technologies through a single commitment. Its Climate Tech Portfolio Fund IV allocates capital across 6-8 top-tier VC and PE funds plus 8-12 co-investments, reaching 150+ companies across clean power, electrification, AI and data centers, critical minerals, robotics, and resilience. The strategy spans venture capital, growth equity, and buy-out, backing both early-stage and mature cash-generating companies, with roughly 60% exposure to North America and 40% to Europe. Funds are chosen through a rigorous multi-stage due diligence process assessing both climate impact and financial returns, with less than 5% of reviewed funds approved.

Invests inAI & Machine Learning Cleantech Climate Tech Energy Impact & Social Good New Materials Robotics Amsterdam Europe New York North America

Source: firm website, verified Aug 16, 2026.

Stage

Seed–Late Stage

Check

$100K

Amsterdam, NY, NL

Instruments

Equity · Debt

Tracked investments

Team · 36 people

from the firm's website

Jacqueline van den Ende· Co-Founder & CEO

Lara Koole· Co-Founder & CFO/COO· Amsterdam, North Holland, Netherlandsin

Lara Koole is Co-Founder and Chief Financial and Operating Officer at Carbon Equity, a European climate investment platform that connects private investors to venture capital, growth equity, and infrastructure funds. She has over 15 years of experience across corporate finance, venture capital, private equity, and entrepreneurship. Previously, she established and led Philips Ventures' European investment activities, managing a portfolio of health-tech startups and serving on multiple boards.

Liza Rubinstein· Co-Founder & Chief Climate Impact· Cincinnati Metropolitan Areain

Saskia Bruysten· Co-Founder International· Germanyin

Co-founded Yunus Social Business in Germany in 2011 to expand the social business model globally.

Bas van Beijeren· Managing Director· Netherlandsin

Paul de Raad· Chief Commercial Officer· Amsterdam, North Holland, Netherlandsin

Paul de Raad is Co-Founder and Chief Financial and Operating Officer at Carbon Equity, a climate investment platform that connects private investors to venture capital, growth equity, and infrastructure funds. Previously, de Raad established and led Philips Ventures' European investment activities, overseeing a portfolio of health-tech start-ups and serving on several boards. De Raad has over 15 years of experience across corporate finance, venture capital, private equity, and entrepreneurship.

Pieter Peletier· Partner

Partner at Navis Private Office, appearing as a speaker on this Carbon Equity webinar.

Wiebe Visser· Chief Investment Officer· Berlin, Berlin, Germanyin

Carolina Echecopar· Investment Manager· New York, New York, United Statesin

Carolina Echecopar is Head of Marketing at Carbon Equity. She has more than 13 years of experience in marketing and over 10 years in strategic management, having worked in the technology sector since 2011 across the fintech, shared mobility, and e-commerce industries. She has co-founded three online businesses and has advised more than 25 startups and several NGOs.

Adriaan Schiphorst· Head of Product & AI· Amsterdam, North Holland, Netherlandsin

Adriaan Schiphorst is Head of Product & AI at Carbon Equity. He holds an MSc in Advanced Matter & Energy Physics from the University of Amsterdam and the California Institute of Technology.

Almer Staal· Full Stack Engineer· The Randstad, Netherlandsin

Almer Staal is a Product Marketing Manager at Carbon Equity, a firm focused on mobilizing capital to address climate change. His experience spans both corporate environments and startups, with skills including team leadership, marketing strategy and communication, digital content creation, stakeholder management, data analytics, and AI tools and applications.

Berend Braam· Senior Investor Relations Manager· Amsterdam, North Holland, Netherlandsin

Berend Braam is Head of Private Solutions at Carbon Equity, where he leads the team focused on providing investor access to venture capital and private equity funds in the climate technology sector. He has a background in venture capital and entrepreneurship.

Catalina Rete· Full Stack Engineer· Netherlandsin

Dennis Schäfer· Chief Legal & Risk Officer· Amsterdam, North Holland, Netherlandsin

Dennis Schäfer is Chief Legal & Risk Officer at Carbon Equity. He previously worked as a tax advisor in the Investment Management team at Loyens & Loeff, focusing on real estate funds, real estate transactions, and international tax.

Dirk Gerritsen· Marketing Managerin

Diya Dilan· Legal Associate· Berlin, Berlin, Germanyin

Eva van Hilten· Senior Investment Associate· Palo Alto, California, United Statesin

Eva van Hilten is a Senior Investment Associate at Carbon Equity, a climate technology LP that invests in venture capital and private equity funds and in growth-stage companies. She co-founded You Got This with Tessel Majtlis, an initiative focused on women's financial education and investing.

Femke Does· Office and Operations Manager

Gijs Hoonhout· Head of Marketing· Amsterdam, North Holland, Netherlandsin

Gijs Hoonhout is Head of Marketing at Carbon Equity. He has more than 13 years of experience in marketing and over 10 years in strategic management, with work in the fintech, shared mobility, and e-commerce sectors since 2011. He has co-founded three online businesses and provided support to over 25 startups and several NGOs.

Gioia Proto· Investor Relations Associate· Netherlandsin

Gioia Proto is an Investor Solutions Associate at Carbon Equity. She previously interned at the Dutch Consulate General in Milan, where she identified trade opportunities for Dutch companies in Italy with a focus on the circular economy, and completed a thesis on institutional pressure and the circular economy transition in the textile industry in the Netherlands and Italy. She also serves as a board member at Graduate Entrepreneur, where she evaluates and supports startups.

Gökçesu Üstüner· Investor Operations Analyst

Idse Luirink· Senior Investment Associate

Joosje Kuijpers· Investor Relations Associate· Amsterdam, North Holland, Netherlandsin

Investor Relations Associate at Carbon Equity.

Keshava Mohamed Burrell· Full Stack Engineer

Liz Engelberts· Investor Relations Manager· Netherlandsin

Nick Sluiter· Head of Compliance· Netherlandsin

Patricia Nobrega· CRM Marketer· Amsterdam, North Holland, Netherlandsin

Patricia Nobrega is Head of Private Solutions at Carbon Equity, where she leads the team that provides investors access to venture capital and private equity funds focused on climate technology. She has a background in venture capital and entrepreneurship.

Ruben Straver· Operations Architect

Sam van der Linden· Investment Associate· Amsterdam, North Holland, Netherlandsin

Investment Associate at Carbon Equity.

Saskia van den Ende· People & Culture Director· Amsterdam, North Holland, Netherlandsin

Saskia van den Ende is People & Culture Director at Carbon Equity, with background spanning venture capital investment as well as HR and talent acquisition roles. She has held leadership positions building and managing international teams of up to 25 people across corporates, scale-ups, and start-ups in Europe, the Middle East, and Africa. Her areas of experience include recruitment, compensation and benefits, diversity and inclusion, talent management, executive search, and payroll, and she is bilingual in English and Dutch.

Seowoo Nam· Product Designer

Stijn Naber· Investor Operations Analyst

Tessel Majtlis· Senior Investor Relations Associate

Thom de Bokx· Finance Manager· Amsterdam, North Holland, Netherlandsin

Thorsten Kud· Country Manager Germany· Berlin, Berlin, Germanyin

Tom Carrick· Head of Engineering· Amsterdam, North Holland, Netherlandsin

Founder mafia

4 people who came through Carbon went on to found or lead other companies.

Saskia BruystenCo-Founder InternationalFounded Carbon Equity Lara KooleCo-Founder & CFO/COOFounded Carbon Equity Liza RubinsteinCo-Founder & Chief Climate ImpactFounded Carbon Equity Paul de RaadChief Commercial OfficerFounded Vandebron

What they invest in

from 56 of 62 portfolio companies

Cleantech ×41Energy ×34Climate Tech ×25Deep Tech ×9Hardware ×8New Materials ×8Advanced Manufacturing ×7AI & Machine Learning ×7

HQs:United States×21United Kingdom×7Germany×3France×3Belgium×1Bulgaria×1

Who they back

founder profiles across 34 portfolio companies

50%

solo founders

17 of 34 mapped founding teams

38%

repeat founders

of 52 founders with career history

Founding team size:solo founder×172 founders×113 founders×44+ founders×2

Where their founders studiedfrom 51 founders with education data

Stanford University ×6University of Waterloo ×4Massachusetts Institute of Technology ×3Cornell ×2ETH Zürich ×2Imperial College London ×2Latvijas Universitate ×2McGill University ×2

Where their founders worked beforefrom 52 founders with career history

Tum ×3Australian Army ×2Creative Destruction Lab ×2Ember ×2Faraday Future ×2Lyft ×2Massachusetts Institute of Technology ×2Sandbag Climate Campaign ×2

Accelerator rootsportfolio companies that came through a program

Entrepreneur First ×3

11 founders hold a PhD · 7 hold an MBA (of 52 with degree data)

Investments · 62 tracked

founders shown can be your intro path

By year:2024 · 3 2023 · 1 2022 · 3 2021 · 18 dated

Fervo Energyfervoenergy.com inNASDAQ: FRVO

Fervo Energy develops next-generation geothermal technology using advanced drilling and sensing techniques to unlock carbon-free, 24/7 power generation in previously uneconomic locations.

CleantechClimate TechEnergyHouston, US

Tim Latimer(Founder & CEO)inJack Norbeck(Founder)in

BoardDavid Thomas Danielson(Director)inNicholas Walrod(Director)Ion Yadigaroglu(Director)

Co-investorsB Capital Group B4 Capital Baruch Future Ventures Beast Ventures Breakthrough Energy Ventures Congruent Ventures +13 more

Sage Geo Systemssagegeosystems.com in✓ verified

Sage Geosystems develops pressure geothermal technology to generate energy from the earth's subsurface heat, drawing on decades of experience drilling wells worldwide.

CleantechClimate TechDeep TechEnergyHouston, US

Cynthia Taff(Executive Officer, Director)Lev Ring(Executive Officer, Director)in

BoardWilliam Restrepo(Director)Clay Shamblin(Director)Staffan Qvist(Director)

Co-investorsCubit Capital Helium-3 Ventures All Aboard

1KOMMA5°1komma5grad.com in 𝕏

1KOMMA5° provides home energy systems that combine solar panels, heat pumps, battery storage, and EV wallboxes, coordinated by its Heartbeat AI software to optimize electricity use and offer dynamic pricing.

CleantechClimate TechEnergy

Co-investorsCoastCap eCAPITAL ENTREPRENEURIAL PARTNERS Franz Haniel & Cie. GmbH G2 Venture Partners Norrsken VC

Aeronesaerones.com in 𝕏Dec 2022

Aerones provides robotic inspection, cleaning, coating, and repair services for wind turbine blades.

Advanced ManufacturingCleantechClimate TechDeep TechEnergyRoboticsRiga, LV

Dainis Kruze(Founder/CEO)inJanis Putrams(Founder/CTO)in

BoardPHILIPP GOEHRE(Director)ANDRIS BERZINS(Director)NIGEL MCCLEAVE(Director)

Co-investorsACTIVATE CAPITAL PARTNERS Ahren Innovation Capital Change Ventures Evergy Ventures Franz Haniel & Cie. GmbH Future Positive Capital +5 more

Ampd Energyampd.energy in

Ampd Energy makes the Enertainer, a connected battery energy storage system designed to replace diesel generators for power on construction sites and other demanding environments.

CleantechConstruction TechEnergySingapore, SG

Brandon Ng(Founder)in

Co-investorsParticle

Asset Coolassetcool.com in

AssetCool builds robotic systems, including its Capacity-1 line robots, that apply capacity-enhancing coatings to existing overhead power lines to increase grid capacity without lengthy outages or reconductoring.

CleantechEnergyNew MaterialsRobotics

Jasmin Stewart(Head of People)inWinter Wilson(Head of Marketing)inNiall Coogan(CEO)in

Co-investorsEnergy Impact Partners Kero Development Partners Mercia Ventures Northern Gritstone Extantia Capital

Ayr Energyayr.energy in

Ayr Energy designs, manufactures, and tests custom power transformers for medium and high voltage applications, serving utilities and electrical infrastructure customers.

Advanced ManufacturingCleantechEnergyHardware

Anirudh Reddy(Founder)in

Co-investorsEnergy Impact Partners General Catalyst 3one4 Capital

Belenergiabelenergia.com in

Belenergia is a European renewable energy group that develops, builds and operates solar photovoltaic, wind, and biomass power assets, applying a circular economy approach across the value chain.

Circular EconomyCleantechEnergy

Vincent BartininJacques Edouard-Lévyin

Biomasonbiomason.com in 𝕏

Biomason uses biotechnology to grow biocement, producing concrete and tile products by using bacteria to bind natural materials as an alternative to Portland cement, aimed at concrete producers and the construction industry.

BiotechClimate TechConstruction TechNew MaterialsResearch Triangle Park, US

Ginger K. Dosier(Executive Officer, Director)inMichael F. Noel(Director)John M. Dosier(Executive Officer)

Co-investorsNovo Holdings Celesta Capital Celesta Capital

Blue Frontierbluefrontierac.com in 𝕏Dec 2023

Blue Frontier manufactures energy-efficient, sustainable air conditioning systems (DOAS units) that reduce electricity consumption and eliminate high-GWP refrigerants.

Advanced ManufacturingCleantechClimate TechHardwareBoca Raton, US

Daniel Betts(Director, President, and CEO)inMatthew Graham(Director and VP of Engineering)inGreg Tropsa(EVP Business Development)inMatthew Tilghman(Director and Chief Technology Officer)John Hingley(VP of Operations)in

BoardChristian Hernandez(Director)

Co-investorsBreakthrough Energy Ventures Tech Square Ventures VoLo Earth Ventures

Bnewablebnewable.com in

Bnewable is a Belgian provider of behind-the-meter battery energy storage (BESS) projects for businesses, handling financing, development, and operation of battery installations.

CleantechClimate TechEnergy

Christophe Degrez(Founder)in

Carbon Cure Technologiescarboncure.com in 𝕏

CarbonCure develops technologies that inject captured CO₂ into fresh concrete during mixing, where it mineralizes and permanently embeds in the material while reducing the amount of cement needed.

CleantechClimate TechNew MaterialsHalifax

Robert Niven(Executive Officer, Director)in

Co-investorsBreakthrough Energy Ventures Foresight Pangaea Ventures Us Inc.MaRS

CI-Aeroseal-full-logo-2023aeroseal.com

Co-investorsBaruch Future Ventures Breakthrough Energy Ventures Climate Investment Energy Impact Partners Aramco Ventures

Crusoe Energycrusoe.ai in 𝕏

Crusoe builds energy-first AI infrastructure, using innovative and renewable energy sources to power hyperscale AI factories and a cloud platform for AI workloads.

AI & Machine LearningCloud ComputingEnergyDenver, US

Cully Cavness(Co-founder, President and Chief Strategy Officer)inChase Lochmiller(Co-founder, CEO and Chairman of the Board of Directors)in

Co-investorsAbstract Ventures ACTIVATE CAPITAL PARTNERS Advaita Capital Air Street Capital Alkeon Innovation Avenir Growth Capital +34 more

Dispersedisperse.io in 𝕏acquired by OpenSpace

AI & Machine LearningConstruction TechSaaS

Felix Neufeld(Founder)in

Co-investorsFrontline Ventures Kindred Capital Northzone

Econergyeconergytech.com in

EEDENeeden.world in

Eeden converts textile waste into high-quality raw materials for virgin-grade textile fibers through chemical recycling technology.

Circular EconomyCleantechNew MaterialsMünster, DE

Steffen Gerlach(Founder)in

Co-investorsD11Z TechVision Fonds

Emberember.to in 𝕏

Ember operates an all-electric intercity bus service in Scotland, running routes between cities including Dundee, Aberdeen, Edinburgh, Glasgow, Oban, Fort William and Inverness with airport connections.

CleantechClimate TechMobility & Transportation

Dave Jones(Founder)inPhil MacDonald(Founder)in

Co-investorsContrarian Ventures Inven Capital

Emerald AIemeraldai.co in 𝕏

Emerald AI develops software to enable power flexibility in data centers by orchestrating power demand in response to grid needs.

AI & Machine LearningCloud ComputingData & InfrastructureDeep TechEnergyBoston, US

Varun Sivaram(Co-founder)inAyse Coskun(Chief Scientist)in

BoardRob Toews(Director)inMarkus Specks(Director)

Co-investorsCongruent Ventures Energy Impact Partners Neotribe Ventures NVentures NVIDIA Radical Ventures +3 more

Enkaenka-energy.com

ENKA Energy Transition develops and operates advanced battery energy storage systems to enhance grid flexibility across Europe.

CleantechClimate TechEnergyRotterdam, NL

Fervo

Building the world's largest enhanced geothermal plant.

Co-investorsCongruent Ventures Khosla Ventures

Form Energyformenergy.com in 𝕏

Form Energy develops and manufactures low-cost, multi-day iron-air battery systems for long-duration energy storage on the electric grid, serving utilities and project developers primarily in the United States.

Advanced ManufacturingCleantechEnergyHardware

Mateo Jaramillo(Founder & CEO)inTed Wiley(Founder)inYet-Ming Chiang(Founder)inMarco Ferrara(Founder)inWilliam Woodford(Founder)in

Co-investors2045 Ventures Blindspot Ventures Management Co Breakthrough Energy Ventures Coatue Management Congruent Ventures Energy Impact Partners +12 more

Genominesgenomines.com in

Genomines uses biological systems to extract battery-grade nickel from low-grade soils, producing critical metals at lower cost and environmental impact than traditional mining.

BiotechCleantechEnergyNew MaterialsParis, FR

Fabien Koutchekian(CEO)inDali Rashid(CTO)in

Co-investorsDeepTech & Climate Fonds Entrepreneur First Forbion LOWERCARBON Lowercarbon Capital STATION F +6 more

Graphytegraphyte.com in 𝕏Jul 2024 · $30M

Graphyte develops Carbon Casting, a carbon dioxide removal method that dries and compresses biomass such as timber and crop residues into dense carbon blocks wrapped in an impermeable barrier and stores them in monitored underground sites.

Circular EconomyCleantechClimate TechDeep TechNew MaterialsMemphis, US

Barclay Rogers(Founder and CEO)in

BoardChris Rivest(Director)Matthew Eggers(Director)in

Co-investorsBreakthrough Energy Ventures Prelude Ventures Overture Climate

Harbinger Motorsharbingermotors.com in 𝕏

Harbinger Motors designs and manufactures electric vehicles built on medium-duty platforms for commercial and industrial transportation.

CleantechHardwareMobility & TransportationGarden Grove, US

John Harris(Chief Executive Officer & CoFounder)inPhillip Weicker(Executive Officer, Director, Promoter)inBenjamin Dusastre(Executive Officer)Ryan Clinton(Director)inWilliam Eberts(Executive Officer, Director, Promoter)

BoardGilbert Passin(Director)

Co-investorsAcequia Capital (AceCap)Greycroft Ground Up Ventures In-Q-Tel Lakewest Venture Partners Leitmotif +9 more

Hometreehometree.co.uk in 𝕏

Hometree provides energy services and solutions to help homeowners and landlords decarbonise their residential properties in the UK.

CleantechEnergyInsurTechPropTechUK, GB

Simon Phelan(Founder & CEO)in

Co-investorsDN Capital Energy Impact Partners AENU FJ Labs LocalGlobe Frontline Ventures +2 more

Humbleroboticshumblerobotics.ai in

Humble develops vision-first autonomous driving technology on a low-cost, flexible platform designed to haul freight.

AI & Machine LearningLogistics & Supply ChainMobility & TransportationRobotics

Eyal Cohen(Founder)in

Co-investorsEnergy Impact Partners Eclipse

Infravisioninfravisioninc.com in 𝕏

Infravision builds power grid infrastructure using aerial robotics, including drones for power line stringing and automated grid construction.

Construction TechEnergyRoboticsBuda, US

Christopher C.(Founder)inCameron Van Der Berg(Founder)in

Co-investorsGIC

ION Clean Energyioncleanenergy.com inApr 2024

ION Clean Energy develops post-combustion carbon capture systems for natural gas and biomass power generation, enabling clean, firm ("Blue Power") energy and CO₂ removal credits.

CleantechClimate TechEnergyBoulder, US

Buz Brown(Founder & Executive Chairman)inTim Vail(Chief Executive Officer)inSteve Hirsh(President & CFO)inBen Gurtler(Chief Operating Officer)inJenn Atcheson(SVP, Product)inAlice Chebabi(SVP, Corporate Development & Finance)in

Jetson Homejetsonhome.com in

Jetson helps North American homeowners replace fossil-fuel heating and cooling systems with electric heat pumps, handling the installation process directly rather than through traditional contractors.

CleantechClimate TechConsumerEnergyHardwareIoTNorth Vancouver, CA

Aaron Grant(Founder)inMatthew Bailey(Founder)inStephen Lake(Founder)in

Co-investorsACTIVATE CAPITAL PARTNERS Afore Capital 8VC ACTivate Capital Active Impact Investments Eclipse +1 more

Kelvin Systems, Inc.kel.vin in

Kelvin builds products to modernize legacy radiator-heated buildings, including a smart radiator cover (the Cozy) and an Adaptive Electrification platform that replaces window ACs with smart heat pumps.

CleantechEnergyPropTech

Co-investorsDorm Room MetaProp MetaProp Ventures Partnership Fund for NYC Red Bear Ventures Third Sphere

KoBold

Uses AI to find critical minerals; made Zambia's largest copper discovery in a century.

Co-investorsPrelude Ventures

Kraken

Machine-learning operating system used by 40+ global energy companies to manage customers, batteries, solar panels and EV chargers; a spin-out from Octopus Energy.

Luxwall_vertical_tag_luxwall.com in 𝕏

LuxWall manufactures transparent insulation products for buildings that enhance daylighting, regulate indoor temperatures, and reduce noise.

Advanced ManufacturingCleantechConstruction TechEnergyPropTechYpsilanti, US

Scott V. Thomsen(Executive Officer, Director)inDominic Casinelli(Executive Officer)inJay Rothenberg(Executive Officer)Jose Nunez-Regueiro(Executive Officer)in

BoardSteven Poulter(Director)Cindi Bough(Director)in

Co-investorsBaruch Future Ventures Breakthrough Energy Ventures Climate Investment Congruent Ventures Prelude Ventures

Muon Spacemuonspace.com in 𝕏May 2022

Muon Space designs, builds, and operates satellite constellations using its proprietary Halo technology stack, which integrates spacecraft platforms, payload integration, and software-defined orchestration to deliver data and enable real-time computation in space.

Deep TechHardwareSpace TechSilicon Valley, US

Jonny Dyer(Founder & CEO)inDaniel McCleese(Executive Officer, Director)Pascal Stang(Founder)inPaul Day(Executive Officer, Director)in

BoardJohn Cowgill(Director)inRob Toews(Director)in

Co-investorsACME Capital ACTIVATE CAPITAL PARTNERS Air Street Capital Climactic Congruent Ventures I Squared Capital +6 more

Nabrnabr.com

Direct to consumer housing solution

Co-investorsZigg Capital DivcoWest

NatureMetricsnaturemetrics.co.uk

NatureMetrics provides a nature risk screening platform that assigns every site in a portfolio a 0–1 risk score based on ecosystem condition, business dependencies on nature, and environmental impact, helping organizations across mining, energy, infrastructure, agriculture, and financial services identify and manage biodiversity-related threats to permits, financing, and operations.

AgTechAI & Machine LearningData & InfrastructureEnterprise SoftwareImpact & Social GoodLondon, GB

Dr. Kat Bruce(Founder Director)

Nodes & Linksnodeslinks.com in

Nodes & Links builds AI-powered project management software that helps teams understand and proactively manage project schedules and plans.

AI & Machine LearningConstruction TechSaaSLondon, GB

Greg Lawton(Co-founder)inDr. Christos Ellinas(Co-founder)inChristos Ellinas(CTO)in

Co-investorsEntrepreneur First Niya Partners Red Bear Ventures Westerly Winds Zigg Capital ADV +6 more

Normativenormative.io in 𝕏

Normative offers science-based carbon removal and climate investment products to help companies compensate for emissions they cannot reduce and reach net zero.

AI & Machine LearningCleantechClimate TechSaaSStockholm, SE

Adam Wamai Egesa(Co-founder)inKristian Rönn(Co-founder)inRobin Undall-Behrend(Co-founder)

Co-investorsbyFounders HAWKTAIL Horizons Ventures Luminar Ventures Wave Ventures Blume Equity +1 more

Novameatnovameat.com in

NovaMeat develops plant-based protein food products, positioning them as part of a new culinary tradition.

FoodTech

Giuseppe Scionti(Founder)in

Co-investorsAurum Venture Partners Sofinnova Partners Unovis Asset Management VU Venture Partners Forbion Rubio Impact Ventures

NW Stormnw-groupe.com in

NW designs, develops, finances, installs and operates energy technology solutions for electricity production, storage, grid injection/withdrawal and EV charging, positioning itself as a battery energy storage system (BESS) operator.

CleantechClimate TechEnergy

OpenSolaropensolar.com in 𝕏

OpenSolar provides a free, AI-powered software platform designed to help solar installers streamline operations, connect with customers, and grow their businesses.

CleantechEnergySaaS

Adam Pryor(CEO and Co-founder)inAndrew Birch(CTO and Co-founder)in

Co-investorsTitanium Ventures Telstra Ventures

Pactpact.earth in

PACT develops earth-positive biomaterials for the fashion industry, scaling them up for supply to partner brands.

BiotechCircular EconomyClimate TechNew MaterialsLondon, GB

Yudi Ding(Founder & CEO)inNiels Ramay(Founder)in

Co-investorsEntrepreneur First Hoxton Ventures Polytechnique Ventures

Palmettopalmetto.com

Palmetto is a company focused on advancing clean energy solutions and contributing to a global transition towards renewable energy.

CleantechClimate TechEnergySaaSCharleston, US

Co-investorsEnergy Impact Partners Evergy Ventures Greycroft Lerer Hippeau MKB Valkyrie

Pathfinder Clean Energypathfinderce.com

PACE develops and finances utility-scale solar and energy storage projects across global markets, serving investors and corporate energy users.

CleantechClimate TechEnergyEnterprise SoftwareLondon, GB

Rob Denman(Managing Director, PACE)inAlex Ross(Global Development Director, PACE)Aitor Larrucea(Technical Director, PACE)

Powescopowesco.fr in

Powesco delivers energy performance optimization and building management services for commercial real estate, focusing on reducing operational costs and improving efficiency through advanced building management systems and HVAC optimization.

CleantechEnergyEnterprise SoftwarePropTechParis, FR

Radiantradiantnuclear.com in 𝕏

Radiant Nuclear develops Kaleidos, a portable nuclear microreactor designed to replace diesel generators for remote locations and provide resilient backup power to hospitals, datacenters, and military installations.

Deep TechEnergyHardwareEl Segundo, US

Doug Bernauer(Founder & CEO)in

Co-investorsAcequia Capital (AceCap)Andreessen Horowitz Beyond Capital Cantos Ventures Crosscut Ventures DCVC (Data Collective)+14 more

Renalfa Power Clustersrenalfa.com

Renalfa develops and operates renewable energy assets, including solar, wind, and grid-scale battery storage systems across Eastern Europe.

CleantechClimate TechEnergy

Ivo Prokopiev(Co-founder)in

Reverionreverion.com in

Reverion develops reversible solid-oxide fuel cell power plants that generate climate-positive power and provide energy storage, offered as containerized units scaling from 10 kW to 500 kW.

CleantechClimate TechEnergyEresing, DE

Luis Poblotzki(Co-Founder & CDO)inStephan Herrmann(Co-Founder & CEO)inFelix Fischer(Co-Founder & COO)inJeremias Weinrich(Co-Founder & CPO)inMaximilian Hauck(Co-Founder & CTO)in

Co-investorsEnergy Impact Partners GGF Green Generation Fund SpinLab TechFounders UVC Partners +2 more

SiTrationsitration.com in

SiTration develops silicon-based electro-extraction (SEE) and nano-filtration (SNF) technologies that recover metals and critical minerals from mining waste, leachate, and recycled material using electricity and no added chemicals.

CleantechDeep TechNew MaterialsCambridge, US

Brendan Smith(Executive Officer, Director)inJeffrey Grossman(Director)

BoardJacob Bro(Director)inMatthew Nordan(Director)in

Co-investorsAzolla Ventures The E14 Fund Working Capital Fund BHP Ventures Extantia Capital Orion Industrial Ventures

Solasta Biosolastabio.com in

SOLASTA Bio develops peptide-based, precision-targeted biological insecticides that control specific pest insects while remaining non-toxic to non-target species such as pollinators, wildlife and humans.

AgTechBiotechCleantech

Shireen Davies(CEO)in

Co-investorsCavallo Ventures Future Planet Capital UK Innovation & Science Seed Fund The Yield Lab The Yield Lab Europe

Solugensolugen.com in 𝕏Sep 2021 · $357M

Solugen develops a biomanufacturing platform using fermentation and bioprocessing technology to produce specialty chemicals at scale.

Advanced ManufacturingBiotechCleantechClimate TechHealthtechHouston, US

Sean Hunt(Founder/CTO)inGaurab Chakrabarti(Founder)in

BoardSeth Bannon(Director)in

Co-investorsFifty Years Founders Fund Lowercarbon Capital Y Combinator Baillie Gifford GIC +22 more

Starfish Spacestarfishspace.com in 𝕏

Starfish Space develops Otter, an autonomous satellite servicing vehicle that uses electric propulsion to dock with satellites for life extension and disposal.

Deep TechHardwareSpace TechTukwila, US

Trevor Bennett(Co-founder)inAustin Link(Co-founder)in

BoardMorgan Beller(Director)inPeter Ortez(Director)Letitia Long(Director)

Co-investorsACTIVATE CAPITAL PARTNERS Booz Allen Ventures Denver Ventures Hypothesis Industrious Ventures MaC Venture Capital +14 more

Swishswish-charge.com in

Swish provides turnkey EV charging stations for businesses, handling site survey, installation, grid connection, maintenance, and supervision.

CleantechEnergyMobility & Transportation

Syzygy Plasmonicsplasmonics.tech inNov 2022

Syzygy Plasmonics converts waste biogas and renewable electricity into sustainable aviation fuel using proprietary photocatalytic technology.

CleantechClimate TechEnergyHouston, US

Suman Khatiwada(Director, Executive Officer)inTrevor Best(Executive Officer, Director)in

BoardPatrick Poon(Director)Ann DeWitt(Director)Michael Biddle(Director)inMatthew Hill(Director)

Co-investorsClimate Impact Capital Evok Innovations Horizons Ventures Lotte Ventures New Climate Ventures Aramco Ventures +4 more

Transizionawhitesummitcap.com

White Summit Capital is a mid-market infrastructure investment firm that funds and scales companies into energy infrastructure platforms, focused on the energy transition and reaching net zero.

CleantechClimate TechEnergy

Tropic Biosciencestropic.bio in

Tropic develops improved varieties of tropical crops using gene editing and gene silencing technologies to enhance yield, disease resistance, and climate resilience.

AgTechBiotechNorwich, GB

Co-investorsAgronomics Aliment Capital Blue Horizon Corporation Canaan Partners Emerald Technology Ventures Ag Five Seasons Ventures +6 more

Urban Footprinturbanfootprint.com in 𝕏

UrbanFootprint provides granular data and risk-intelligence tools to energy utilities, financial institutions, government agencies, and corporations for planning climate-resilient infrastructure investments.

Climate TechData & InfrastructureMobility & TransportationPropTechSaaS

Joe DiStefano(Founder)in

Co-investorsDcode Capital Valo Ventures noa

Vammovammo.com in

Vammo offers electric motorcycles on a subscription model with a battery-swapping network, letting riders exchange a depleted battery for a charged one in under a minute and providing preventive maintenance and 24-hour support.

CleantechEnergyMobility & TransportationSão Paulo, BR

Billy Blaustein(Founder)inJack Sarvary(Founder)in

Co-investorsAvila Construct Capital Ecosystem Integrity Fund K50 Ventures Latitud Ventures Maniv Mobility +2 more

Velocysvelocys.com inFeb 2024 · $40M

Velocys licenses advanced Fischer-Tropsch reactor technology and catalysts for the commercial production of sustainable aviation fuel, renewable diesel, and synthetic eFuels.

CleantechDeep TechEnergyAbingdon

Roy Lipski(Executive Officer, Director)inSusan Robertson(Executive Officer, Director)inPaul F. Schubert(Executive Officer, Director)in

BoardPierre Jungels(Director)Jan Verloop(Director)Andrew Jamieson(Director)

Co-investorsAhren Innovation Capital

Exits · 2

IPOs and acquisitions across the tracked portfolio

Fervo EnergyNASDAQ: FRVODisperseacq. by OpenSpace

Portfolio news

latest coverage across their companies

The ASEAN Power Grid꞉ Why every year of delay matters | Ember

Ember · ember-energy.org · Aug 20, 2026

The U.S. Department of Energy provides $162 million for 9 projects to tackle the recovery of critical minerals from mining waste. - ChemNet

SiTration · news.chemnet.com · Aug 19, 2026

Specter Monitor #241

Vammo · insights.tryspecter.com · Aug 19, 2026

Form Energy Raises $750 Million for Multi-Day Energy Storage Solution - ESG Today

Form Energy · esgtoday.com · Aug 13, 2026

Emerald AI seeks $100M to challenge Nvidia's grip on AI infrastructure

Emerald AI · cryptobriefing.com · Aug 3, 2026

Ayr Energy counters Zetwerk over transformer tech dispute in US ITC dispute - The HinduBusinessLine

Ayr Energy · thehindubusinessline.com · Jul 22, 2026

BofA upgrades Fervo Energy stock rating on drilling progress By Investing.com

Fervo Energy · investing.com · Jul 17, 2026

Pact Labs Raises $7M in Series A Funding

Pact · finsmes.com · Jul 14, 2026

Fund performance · per public LP disclosures · 3

as of Jun 2024

Fund	Vintage	Committed	Net IRR	TVPI	DPI
Carbon Capital VI LPLPs: Florida State Board of Administration	2016	—	10.0%	1.00x	0.84x
Carbon Capital V IncLPs: Florida State Board of Administration	2013	—	6.1%	1.20x	1.20x
Carbon Capital III IncLPs: Florida State Board of Administration, Annie E. Casey Foundation	2009	—	9.3%	1.26x	1.26x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

How many investments has Carbon made?: Carbon has 56 tracked investments, 1 of which have exited via acquisition or IPO.
What stage does Carbon invest at?: Carbon invests at the Seed, Series A, Series B, Growth, Late Stage stages.
What is Carbon's typical check size?: Carbon typically writes checks of $100K.
What sectors does Carbon focus on?: Carbon focuses on AI & Machine Learning, Cleantech, Climate Tech, Energy, Impact & Social Good, New Materials, Robotics.
Where is Carbon located?: Carbon is headquartered in Amsterdam, NL.
Does Carbon lead rounds?: Carbon has led 3 of the 5 rounds where its role is on record.
Who does Carbon co-invest with?: Carbon most often shares deals with 2150, Energy Impact Partners, ACTIVATE CAPITAL PARTNERS, among 200 tracked co-investors.

Media · Podcasts & interviews

featuring the team

Jacqueline van den Ende (Carbon Equity): Rewiring capital for climate impact

EUVC · Jacqueline van den Ende

"Videocontent op socials creëert vertrouwen en conversie" - Jacqueline van den Ende (Carbon Equity)

Young Ones Media · Jacqueline van den Ende

“90% van de klimaatproblemen kunnen we al oplossen" – Jacqueline van den Ende (Carbon Equity)

Young Ones Media · Jacqueline van den Ende

🌍 COP28, emissions and Carbon Equity with CEO Jacqueline Van Den Ende

Charles Cormier Podcast - CEO Wisdom · Jacqueline van den Ende

'Mobilising capital to help solve climate change': Q&A w/ Carbon Equity CEO Jacqueline van den Ende

EIC Scaling Club · Jacqueline van den Ende

Jacqueline van den Ende en Albert van Zadelhoff - Investeren in klimaattechnologie bij Carbon Equity

Carbon Equity · Jacqueline van den Ende

Images

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