What stage does Climentum Capital invest at?

Climentum Capital invests at the Seed, Series A stages.

What is Climentum Capital's typical check size?

Climentum Capital typically writes checks of $1.1M – $5.4M.

Where is Climentum Capital located?

Climentum Capital is headquartered in Copenhagen, DK.

Does Climentum Capital lead rounds?

Climentum Capital typically participates in rounds rather than leading them.

Climentum Capital

Venture capital

Copenhagen · Seed–Series A · 7 people tracked

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✨ Fox Verdict

Investment thesis

Climentum Capital backs early-stage, industrial hard tech that supports Europe's resilience, competitiveness, and independence while decarbonizing its highest-emitting sectors. The firm focuses on B2B hardware and deep-tech solutions with genuine decarbonization potential, targeting under-hyped companies that can build the industrial backbone of a resilient Europe. It invests across Europe with a core focus on the Nordics as a climate innovation hub and the DACH region as Europe's industrial heartland. As an Article 9 fund operating a dual carry model, it ties returns to verified climate impact and strict performance criteria, and brings experience scaling hard tech financially, operationally, and commercially.

Invests inAdvanced Manufacturing Circular Economy Cleantech Climate Tech Deep Tech Energy Hardware Impact & Social Good New Materials Copenhagen Europe

Source: firm website, verified Aug 3, 2026.

Stage

Seed–Series A

Check

$1.1M – $5.4M

Copenhagen, DK

Leads rounds

Follows

Instruments

Equity

Founded

2020

Tracked investments

Team · 7 people

from the firm's website & public directories

Morten Halborg· Managing Partner· Copenhagen, Denmarkin

Co-founder leading fund formation, finance and operational activities, with experience in investment management, sustainability, and board governance.

m•••@climentum.comreveal

Doerte Hirschberg· General Partner· Berlin, Germanyin

Doerte Hirschberg is a General Partner at Climentum Capital, focused on climate technology and impact startups. She has previous experience at McKinsey and Rocket Internet, where she held business development and people-focused roles scaling multiple companies. Hirschberg also works as an investor, founder, and advisor to climate technology companies.

Stefan Maard· General Partner· Copenhagen, Denmarkin 𝕏

Claudius Bleicher· Junior Analyst· Copenhagen, Denmarkin

Supports sourcing and screening with a focus on reporting and portfolio monitoring.

Jonas Neyer· Junior Analyst· Copenhagen, Denmarkin

Handles communication and portfolio reporting, contributing to overall portfolio management.

Marc Leduc· Advisor· Germanyin

Marc Leduc is a Senior Investment Manager at BASF Venture Capital GmbH with a Ph.D. in Chemistry and over 20 years of industrial experience, including more than 8 years in corporate venture capital. He focuses on identifying and evaluating investment opportunities in chemistry and related technologies, with core competencies in R&D, product development, and technology incubation.

Praneeta Pakalapati· Francein 𝕏

Pakalapati has experience in venture capital and climate technology, including operational work with startups on fundraising and go-to-market strategy. She has conducted due diligence on companies across climate tech, education technology, and deep tech sectors, and maintains an analytical background through education and early career experience.

What they invest in

from 1 of 3 portfolio companies

Cleantech ×1Climate Tech ×1Energy ×1

HQs:Norway×1Sweden×1

Investments · 3 tracked

founders shown can be your intro path

Accelerate offshore wind deployment with software, data and intelligence

Enerinenerin.no in

Enerin develops high-temperature industrial heat pumps based on a reverse Stirling cycle (HoegTemp) that recover waste heat to deliver hot water, steam, and thermal oil up to 250°C, replacing fossil fuel boilers.

Asker, NO

Co-investorsMomentum Move Energy PSV The Footprint Firm

Qvantumqvantum.com in

Qvantum builds residential heat pumps with grid-flexibility features, including a "flexready" range whose accumulator tank doubles as a thermal battery to provide balancing services to the energy grid.

CleantechClimate TechEnergy

Ghislain Bouillet(Managing Director, France)

BoardPeter Nilsson(Chairperson of the Board)

Portfolio news

latest coverage across their companies

🇳🇴 Enerin raises €15 million in Series A funding round - ArcticToday

Enerin · arctictoday.com · Dec 11, 2025

Frequently asked questions

What stage does Climentum Capital invest at?: Climentum Capital invests at the Seed, Series A stages.
What is Climentum Capital's typical check size?: Climentum Capital typically writes checks of $1.1M – $5.4M.
What sectors does Climentum Capital focus on?: Climentum Capital focuses on Advanced Manufacturing, Circular Economy, Cleantech, Climate Tech, Deep Tech, Energy, Hardware, Impact & Social Good, New Materials.
Where is Climentum Capital located?: Climentum Capital is headquartered in Copenhagen, DK.
Does Climentum Capital lead rounds?: Climentum Capital typically participates in rounds rather than leading them.

Media · Podcasts & interviews

featuring the team

Why invest in Oslo? Morten Halborg, Climentum Capital

Oslo Business Region · Morten Halborg

Excerpt from Leaders In Cleantech #146 Malin Carlstrom – Climentum Capital 2

Leaders in Cleantech podcast · Malin Carlstrom

Co-investors · 5

Inovia Capital

Inovia Capital is a full-stack venture capital firm based in Canada with a presence in the EU, partnering with founders to build global technology companies.

$250K – $8M

Construct Capital

Construct Capital is an early-stage venture capital firm backing founders rebuilding foundational industries such as manufacturing, logistics, defense, and energy.

$2M – $6M

Root Ventures Manager, Llc

Root Ventures is a San Francisco-based deep tech seed fund led by engineers, focusing on leading initial funding rounds for founders pursuing new technical opportunities.

$3M – $5M

Third Sphere

Third Sphere is an early-stage investor that deploys capital to upgrade systems across sectors such as infrastructure and supply chains, focusing on climate resilience beyond carbon reduction.

$250K – $1M

Auxxo

Auxxo backs and connects the strongest pre-seed and seed female-(co-)founded startups across Europe.

Firms observed investing alongside Climentum Capital, from public investor directories. Shared companies are the overlap with Climentum Capital's recorded portfolio.

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